The real cost of business collapses

The many thousands of Australian businesses that fall over the cliff each year impact the economy by billions of dollars. The social consequences are also severe, including bankruptcies, stress, layoffs, unemployment, and even suicides. Michael Fingland, CEO of Vantage Performance, says businesses should regularly assess their financials, identify critical KPIs, and confront the brutal facts to avoid collapse. He insists that directors seek outside help and that stakeholders nudge them towards seeking assistance.

 

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