Construction Insolvencies: Are Small Operators the Canary in The Coal Mine?
24th Jun 2022

Rising rates of construction industry insolvencies and cost of living pressures continue to place a heavy financial burden on sole traders and small business owners, who make up 97% of construction companies.

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Insolvencies drop in December 2019

Statistics released by the Australian Securities and Investment Commission (ASIC)1  shows that despite a drop in company insolvencies in December 2019, there were still 5% more insolvency appointments in Australia for the year ended December 2019.

In NSW, insolvency appointments were up 16% annually, and Victoria observed an annual increase of 12%1 . These increases were primarily driven from the construction sector, which experienced an annual increase of 18%2 of companies closing down (EXADs3).

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What's the best way to protect your business from a cyberattack?

You’ve heard the horror stories about cybercrime and the damage it can inflict. Now you want to know what to do. What’s the best way to protect your business from a cyberattack?

Preparedness is your best defence, advises Darren Hopkins, a digital forensics expert and Partner at McGrathNicol.

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What can happen when you don't background screen a candidate

If you’re ever in doubt about the benefits of background screening when hiring a candidate, you need only look at what can happen when you don’t. 

A former manager at a state government department is the latest in a line-up of executives to be found guilty of fraudulent behaviour in relation to their job applications. Sentenced to a non-parole period of 12 months in jail, the court heard that the high-paid officer fabricated her education, references and work background. 

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Find out how Chimu Adventures achieved ROI of 766% in 6 months

The specialist travel company, Chimu Adventures, wanted to understand the value of their online marketing activity on offline sales.

Their customer journey was fragmented across data silos, restricting their ability to track the user as they moved from online to offline. When a tour was booked on the phone or via an agent, there was no understanding or proper visibility as to which marketing channel had driven the sale.

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Equifax Quarterly Consumer Credit Demand Index: Dec 2019

Overall consumer credit applications down -7.3% (vs Dec quarter 2018). Credit card applications declined by -9.9% (vs Dec quarter 2018) and personal loan applications dropped by -5.3% (vs Dec quarter 2018)

Mortgage enquiries increased by +12.6% (Vs Dec quarter 2018), continuing trend from previous quarter.

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Materials company recovers millions by registering on the PPSR

A materials handling company believed they were doing the right thing. They protected their interests in the company's valuable equipment assets by registering on the Personal Property Securities Register (PPSR). Then two customers went broke, and administrators were appointed. They found out the hard way their PPS registrations were not up to scratch when they had great difficulties recovering their rented equipment.

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The new Design and Distribution Obligations (DDO) for financial and credit products comes into force by the 5th of October 2021 and requires you to publicly document and justify why a product is consistent with the likely objectives, financial situation and needs of a class of consumers.

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Leonardo da Vinci is said to have created the first curriculum vitae (CV) in 1482. It was a letter to the Regent of Milan, introducing himself and explaining his many skills. While the concept of a CV and cover letter may not have changed much over the centuries, advances in technology and products such as fit2work mean it can be much easier to spot a fraud.

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Do you really understand why credit customers choose one brand over another? Switching decisions are challenging to predict and can vary according to customer age and product type.

The Equifax Australian Consumer Credit Pulse 2019 report reveals surprising trends that will be of interest to marketers looking to target financial services customers.

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It's time for HR to ditch their 'set and forget' approach to background screening

Less than a decade ago, background checks were only undertaken for certain roles. These days it's the norm.

Dylan John, Executive General Manager - HR Solutions at Equifax, says "Most businesses in Australia do a background check on employees at the point of hire, and never do it again. If they do, it's usually once every three to five years. A lot can happen during that time."

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