At our recent seminar, it came to light about the stress the Building Industry is currently experiencing. The blowouts in costs and completion dates are significantly impacting new builds for the builder and homeowner.
Since July of last year, we have witnessed a period of rapid growth in domestic construction activity in Australia. This rapid growth has caused significant supply and demand issues within the Australian building & construction economy.
Patrick Schweizer, Alares Systems Pty Ltd and Wayne Clark, BICB, will provide an overview and practical demonstration of the new Insolvency Risk Factors Predictive Tool feature of the Court Search and Monitoring tool, which will be available to all members through the BICB online system.
Since March 2020, we have witnessed a significant period of change in all aspects of life, but more particularly, we have seen unprecedented legislative changes and Government support to curb the impact of COVID-19 on businesses.
One important credit management solution is providing an alert to members that a debtor is taking 60 days or more to pay their bills. This can be a precursor for that business heading to failure.
Our Executive Director, Wayne Clark made a contribution to an insightful article by Michael Chesterman at Helix Legal about the looming crisis of impending insolvencies in the construction industry.
Russ Stephens, cofounder of the Association of Professional Builders, spoke to Business Insider Australia about his concerns for the Home Building Industry in Australia.