Share on facebook
Share on linkedin
Share on email

Experts predict economic ‘bloodbath’ when JobKeeper, JobSeeker ends - Business owners need to protect what they are owed

Experts predict economic ‘bloodbath’ when JobKeeper, JobSeeker ends - Business owners need to protect what they are owed

Experts predict economic ‘bloodbath’ when JobKeeper, JobSeeker ends In April, the number of businesses going bust actually decreased. But in roughly 100 days, an economic bloodbath will commence. This recession just got weirder: Despite hard times, companies are somehow not going broke. Everything is topsy-turvy. But are we just saving up pain for later? I keep an eye on the ASIC insolvency database, and when I opened it to check the April statistics, I couldn’t believe my eyes. April 2020 was a month of insane economic uncertainty and gross financial turbulence. But the number of businesses going broke went down. Not up. Down. April was a record. Not only is it lower than April last year, it’s lower than each April before that back to 2013. In fact, the number of businesses going bust in April this year is the third lowest month in the whole database, which goes back to 2013. We not only managed to prevent a bloodbath, we’ve kept more businesses alive than would usually go broke. The economy is in recession. Things are supposed to be going to hell in a hand basket. So how come businesses aren’t going broke? JobKeeper is a big reason for the high survival rate. Instead of paying their employees, suffering businesses can get the government to pay, up to $1500 a fortnight. That dramatically relaxes their financial situation.

Tim K. Dean, Credi Founder | Commentator & Expert on Family Lending, Bank of Mum & Dad and Neo-Credit Scores is available for media interviews and appearances. More…

Tell people about  Credi.com

Share on facebook
Share on linkedin
Share on email

Tell people about Credi.com

Share on facebook
Share on linkedin
Share on email

Credi is the World’s #1 loan management platform for private lenders.

  • Formalise your loan agreements online
  • eSignature functionality means no paperwork needed
  • Trusted by over 7,000 people worldwide
  • Takes minutes to setup
  • Track repayments online or through the Credi mobile track app
  • Option to secure your loan with borrower assets (PPSR registration, for Australian users only)

Credi the #1 lending management platform for friends family & their business

Formalise and manage your loan agreements online with Credi. Trusted by over 7,000 people worldwide. Takes minutes to set up

Use Credi for FREE – for all loans up to  A$5000, $5000, €5000,  £5000 . Loans over cost A$20, $20, €20,  £20  or other other local currency amounts (sales tax may apply)

Credi the #1 lending management platform for friends family & their business

Formalise and manage your loan agreements online with Credi. Trusted by over 7,000 people worldwide. Takes minutes to set up

Use Credi for FREE – for all loans up to  A$5000, $5000 / €5000,  £5000 . Loans over cost A$20, $20, €20,  £20  or other other local currency amounts (sales tax may apply).

Key Features

Credi Free

For loans up to A$5000
FREE
  • For loans up to AUD $5000
  • Create loan agreements in minutes
  • Multi currency support
  • Share agreements
  • Negotiate Loans
  • eSignature
  • Track Payments
Popular

Credi Premium

For loans over AUD $5000
$AU 20 Per Loan Document ex GST
  • Every feature in FREE
  • Loans over AUD $5000
  • Premium Support

Small Biz Owners Secured

Secured Loan Agreement. General Purpose PPSR Secured loan agreement
$AU 399 Per Loan Document ex GST
  • Loan Agreement set up done for you
  • Registered Security interest
  • Available in Australia only

Does Your Business Owe You Money? Don't be last in line to be repaid if things get Tough