We are led to believe that the ATO will not resume recovery activity through statutory demands until early 2022. Therefore, we now believe that construction industry insolvencies will remain relatively low until the end of 2021. Forecast insolvencies for 2020/2021 financial year may reach 971.
When being interviewed by Nathan McQuade and speaking about upcoming insolvencies, it really came to light just how much an organisation like Building Industry Credit Bureau can really help businesses supplying the Building & Construction Industry to successfully navigate credit management.
Please read this insightful interview by Nathan McQuade, Sales Manager, QLD at NCI of Wayne Clark as he shares what he is seeing in the market and what he believes will unfold in the future for the building & construction industry..
Wayne Clark was a guest writer for the Australian Institute of Credit Management’s (AICM) April 21 credit management issue. He wrote specifically about the Construction Industry.
Construction is the third largest industry in Australia for the number of people it employs and its GDP (Gross Domestic Product) contribution. However, it is the second largest industry when it comes to corporate insolvencies, with an average of 1,552 per annum.
Security over Personal Property. Utilising the Personal Property Securities Registration (PPSR) can be an effective recovery tool. But you have to get it right.
Nicholas Boyce of Results Legal spoke at recent BICB seminar on, 'Understanding the small business insolvency reforms and how this impacts you, the creditor.' Important information for every business.
After a year of unprecedented change we have seen various legislative changes and the introduction of the small business insolvency reforms. As creditors it is important that we understand the impact this has on you and your customers.