Australia’s insolvency landscape is changing in response to new economic conditions. NAB examines the latest data to help you best position your professional services business for what’s to come.

Visit nab.com.au/insolvency  to find out how our Professional Services Bankers can help your Insolvency business.

Sources:

2022 insolvencies: ASIC’s Insolvency Statistics series 1.

The fall and rise of insolvencies: ASIC’s Insolvency Statistics series 1.

Cumulative lost Australian GDP growth since pre-pandemic projections: Australian Bureau of Statistics, Australian National Accounts: National Income, Expenditure and

Product, June 2022.

Total amount of Australian COVID-related direct fiscal stimulus, Q3 FY 2019-20 to Q3 FY 2021-22: Australian Bureau of Statistics, Australian National Accounts: National

Income, Expenditure and Product, March 2022.

Cash rate target 2018-2022: Reserve Bank of Australia.

Companies entering administration by industry – figure and proportion of all insolvencies, CY 2022: ASIC’s Insolvency Statistics series 1.

Companies entering administration by industry – figure and proportion of all insolvencies, CY 2022 – inputs rising by over 16% in 2022: ABS Producer Price Index.

Companies entering administration by industry – figure and proportion of all insolvencies, CY 2022 – visitor figures remain below half of pre-pandemic inbound tourism

levels: ABS Short-term Visitor Arrivals.

Companies entering administration by jurisdiction, CY 2022: ASIC’s Insolvency Statistics series 1.

59.6%, 37.4% and 90%: NAB Strategic Business Services.

How insolvency practitioners are adapting: 59.6%, 37.4% and 90%: NAB Strategic Business Services.

How insolvency practitioners are adapting: 2.2%, 50%: NAB Master Account Opening Service.