Coronavirus stimulus measures like JobKeeper are keeping zombie businesses alive, warn insolvency practitioners – ABC News

Glasses and a calculator on accounting documents.

Why Covid-19 in Victoria is rife stimulus is not going to individual survival and anxiety is contagious. Universal benefit not companty benefits are required, (ODT)

Key points:

  • When economic conditions are relatively favourable, the number of businesses going into administration is about 8,000 a year
  • Despite the COVID crisis, the latest number of businesses folding is below that, raising fears that stimulus measures may be keeping zombie businesses afloat
  • There are calls for regulators to be given greater funding to go after companies that may be trading while insolvent

via Coronavirus stimulus measures like JobKeeper are keeping zombie businesses alive, warn insolvency practitioners – ABC News

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