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Visit our dedicated small business restructuring site for small business owners facing financial distress.
If your business is currently facing financial difficulty, it's important to act with urgency. The Australian Financial Security Authority (AFSA) offers guidance for small business owners facing these challenges. This resource covers recognising your financial position, opening lines of communication with creditors, and understanding the personal stakes involved with business debts. It points to reliable advice sources, ensuring you have the support needed to work through the difficulty.
Further Reading
Title | Short Summary |
|---|---|
ATO's Directors Penalty Notice Information | An explanation of the Director Penalty Regime, how directors can become personally liable for unpaid company tax debts, and why acting early matters. |
AFSA's Guide on Personal Bankruptcy and Company Liquidation | This guide, created jointly by AFSA in collaboration with ASIC and ARITA, offers essential insights into how personal bankruptcy and company liquidation interact. |
AFSA's Dealing with Debt | AFSA provides strategies and insights for small businesses grappling with debt management and the implications of bankruptcy. |
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