CreditorWatch releases January Business Risk Index

CreditorWatch has released the January results for its Business Risk Index (BRI), which indicates positive signs for Australian businesses at the end of 2024 and early 2025. 

At the industry level, CreditorWatch’s data shows the Food and Beverage Services sector is most significantly bearing the brunt of cost-of-living pressures with 9.2 per cent of businesses becoming insolvent, closing voluntarily or being struck off by ASIC in the 12 months to 31 January – a record high. 

CreditorWatch Chief Economist, Ivan Colhoun said, ‘positive developments in recent months include a strengthening in retail sales and consumer confidence, likely reflecting the continuing flow-through of the 1 July 2024 tax cuts to the economy, cost of living support and an ongoing strong labour market.’