BANKRUPT: The number of business related insolvencies had nearly doubled in the last quarter.
BANKRUPT: The number of business related insolvencies had nearly doubled in the last quarter. Barry Leddicoat

Business insolvencies in Bundaberg rise in March quarter

THE Australian Financial Security Authority has released its regional personal insolvency statistics for the March quarter with mixed news for the Bundaberg region.

The figures show the number of Bundaberg debtors with a non-business related insolvency dropped from 28 in the December 2018 quarter to 25.

However, for business the figure has almost doubled from four in the December quarter to seven.

Meanwhile, Bundaberg's total number of debtors remained at 32 in total.

Speaking from a business point of view, Bundaberg Chamber of Commerce president Yale Morgan said the figure was quite low.

"Whilst we have seen almost double the insolvencies in the March quarter over the December quarter, the figures are relatively low with only seven recorded,” Mr Morgan said.

"Whilst I don't know the specific circumstances for the businesses involved, business has been a little tougher in the March quarter, particularly for small business.

"Chamber continues to advocate for the reduction of penalty rates for small business, as well as increased funding for upskilling business owners and their staff.

"Chamber is still optimistic for business sustainability and growth in Bundaberg, particularly with the lifestyle choices our region has to offer.”

Bundaberg's figures sit substantially below other regional centres such as Rockhampton where there has been a rise in non-business related insolvencies from 39 in the December quarter to 46 in March.



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