Small Business Restructure: how the Small Business Restructure supports Australian economic recovery
Australia’s small business sector has long been the backbone of the nation’s economy. With over 2.5 million small businesses in operation, these enterprises account for nearly half of all employment and over a third of the country’s GDP. However, challenges such as rising costs, changing market conditions, and unexpected global events have tested their resilience in recent years. Enter the Small Business Restructure (SBR) framework—a government-backed initiative designed to help struggling businesses regain stability while contributing to broader economic recovery.
Is the Small Business Restructure right for your business?
The Australian Small Business Restructure (SBR) process was introduced to support small businesses facing financial difficulties, offering a streamlined way to restructure debt and avoid insolvency. This initiative provides struggling businesses with a chance to get back on their feet while maintaining control of operations. But how do you know if the SBR process is the right option for your business? In this blog, we’ll explore the key considerations and signs that suggest restructuring might be the right path.
