Treasury is considering an increase to the current Statutory Demand Threshold
The impact of the covid-19 pandemic has forced the government to make a huge number of changes to Australia’s insolvency framework. The Treasury is now deliberating about whether or not the current monetary threshold at which a statutory demand can be issued by a creditor should remain at $2,000 or should be permanently raised to […]
‘Ahead for Business’ – Supporting the Mental Health of Small Business Owners in The Age of Covid-19
The effects of the covid-19 pandemic have taken a huge toll on the mental health of many small business owners and their employees. The ongoing possibility of having to suddenly close whenever a new outbreak of covid-19 occurs means that many businesses are struggling to make a profit and are facing an uncertain future. As […]
Victorian Government Announces Support for Businesses Impacted by Covid-19 Lockdown
The Victorian Government has announced new support for small businesses, including sole traders which have been impacted by the covid-19 circuit-breaker action. Operators from businesses in industries such as; hospitality, events, tourism and the creative industries are all set to benefit from these grants. The $143 million Circuit Breaker Support Package is expected to help […]
Zombie Businesses in The Age of Covid-19
Running a successful business takes a lot of hard work and with the covid-19 pandemic many Australian businesses are facing an uncertain future. Sudden lockdowns and social distancing rules have made it difficult for businesses to generate the amount of revenue that they used to make in a world before covid-19. Once the governments covid-19 […]
New Shopfront Grants Introduced by The Brisbane City Council
In November 2020, The Brisbane City Council introduced a Suburban Shopfront Improvement Grant to support local businesses. Applications for businesses looking to advantage of this initiate closed on 23rd December 2020. In this current month of February 2021, the Brisbane businesses that applied to receive funding from the city council to upgrade their shopfront are […]
Tips for Growing Your Business In 2021
Develop A Deeper and More Personal Relationship with Your Customers – Satisfying your customers should be a top priority of every business. It is crucial to understand your customers desires and to offer services and products that add value and exceed their expectations. You can gain insight into your customers by personalising your services and […]
Small Business Insolvency Reforms Introduced to Help Struggling Businesses
Thousands of Australian businesses impacted by the covid-19 pandemic have been thrown a lifeline following the Federal Government’s decision to introduce small business restructuring reforms on 1st January 2021. The Federal Government’s insolvency reform package was passed by Federal Parliament on 11th December 2020. The new rules will offer a debt restructuring process intended to […]
Small Business in The Age of Covid-19
Small businesses are crucial to sustaining a healthy economy as they employ almost half of all Australians currently in the workforce. The covid-19 pandemic has caused huge disruption to the way small businesses operate. After being forced to close overnight in March 2020 and then re-open to limited capacity two months later restaurants, gyms and […]
The New “Simplified Liquidation Process” Introduced On 1st January 2021
A new Simplified Liquidation process was one of the key components of the Federal Governments recent changes made to Australia’s corporate insolvency framework. The changes were introduced on 1st January 2021, the Simplified Liquidation process aims to be a streamlined Creditors Voluntary Liquidation (“CVL”) for companies that are insolvent and have liabilities of less than […]
An Overview of the Small Business Insolvency Reforms Introduced on 1st January 2021
On 1st January 2021 the Australian federal government’s small business insolvency reforms came into effect thus replacing the temporary insolvency protections which were introduced on 25th March 2020 during the peak of the covid-19 pandemic. The reforms in the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 were passed through federal parliament on Friday 11th […]
