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Working capital problems experienced by 24 percent of building contractors
28 Oct 2009
In the past 12 months the proportion of contractors assessed that were rated as ‘unsatisfactory’ for failing to meet the minimum financial criteria has reached 24%, a 5% increase from previous years. Read More...
20% of all insolvencies are in the construction sector : ASIC
26 Oct 2009
Each week in Australia over 200 companies enter into some form of external administration. In July 2009 there were 876 such companies, an upward trend since April this year.
According to the latest ASIC data shown in Figure 1, in July 2009 New South Wales experienced the highest number of companies entering external administration (363) almost twice as many as Victoria (203) and Queensland (196). Read More...