We’ll Go Under
Source: Herald Sun
Journalist: Shannon Deery
Bill Lang’s information featured in the Herald Sun article:
Small Business Australia is pushing for federal legislative changes to protect small business owners from legal bankruptcy due to losing their business due to the COVID response.
Mr Lang said It was too easy for creditors to bankrupt struggling businesses, making it hard for them to get back on their feet. He said recent insolvency law reforms didn’t go far enough and excluded 68 per cent of businesses.
“Through no fault of their own, business owners are being put out fo business,” he said. “They may well have lost everything, and now they’re going to be prevented from getting going again in some way.
“They have the skills and the mindset to be able to operate businesses; they were operating good businesses as of March of 2020, but they’re going to be severely restricted from doing that. Most Australians I think will find it quite unfair what’s happening; we’re not all in it together. And there’s got to be some things that can be done around this.”
At a state level Mr Lang has called for a pro-rated commercial rent solution to keep small businesses afloat.
Small Business Australia urges the government to implement fast action needed for a fairer solution for those businesses forced to close due to the COVID-19 restrictions. Learn more about COVID Business Closure.