September cliff: Why business experts are preparing for a flood of insolvencies when JobKeeper ends

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Referred to by some economists as the 'September cliff', business owners who are struggling with cash flow are being urged to balance their books now while there is still time. 9News

Coronavirus Victoria: Third Black Lives Matter protester tests positive, closing H&M at Northland Shopping Centre"They're just starting to open up now but there is some concern with parents about going back and for the business owners, they've effectively gone three months without customers."

"We don't have a crystal ball to know, but I liken it to a dam wall. The dam's been built but generally speaking you've got to release the pressure when it rains, and the rain is still falling," said Mr Spring. "We're experiencing an economic event that's both macro and micro in nature and company directors need to be proactive about assessing the impact on their business and the changes required to get back on the right course," Mr Spring said.

"In actual fact I think those people should be encouraged because it takes a lot of intestinal fortitude to say I'm going to have a go.

 

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