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Tough times for business as failures increase and startups flounder
By administrator | 22 August 2018
Data provided exclusively to Fairfax Media by data registry and analytics business Illion (formerly Dun & Bradstreet) shows the pace of failures rose sharply during the final three months of the financial year. A total of 250,242 entities were deregistered from the Australian Securities and Investments Commission by June 30. The majority of these were small businesses, with 86.9 per cent of failures in the past financial year businesses having fewer than 20 employees. The number of startups launching is also down 2.7 per cent year-on-year, with many struggling to obtain finance.
Increased competition
Tania Walter, founder of mining and resources productivity platform Obzervr, has been able to raise funds in the tight market but says it is tough for startups as there is greater competition for finance. Read more
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