accountants
Much has been made in the media about Australia surviving the global financial crisis (GFC) or ‘Eurogeddon' as some of the finance crowd labelled it. On the ground however, the headlines concealed the reality of a patchwork economy where some industries pushed ahead while others were flailing in a sea of weakening consumer confidence, heavy discounting, tight lending conditions, and billowing debt cycles.
Insolvency specialists will tell you that business failures don't show for months if not years after an economic downturn as business owners struggle to hang on. A business can go broke for many reasons but one consistent factor is the owner's fail to recognise the warning signs and take appropriate action. Here are a few of the key indicators:
You might have heard the advertising about the Personal Property Securities Act (PPS Act) and the national register that opened on 30 January 2012. But with a title like that it's easy to think that the Act and the register are not something that the majority of us need to worry about. Think again!