While wages have stalled and big business done well in recent years, this reality is not universal as many SME have been decimated by forced government lockdowns, essentially sacrificed, so as to protect under-funded and resourced hospitals.There is now a quiet resignation of failed businesses, liquidating after failing to navigate 2 years of forced business closure where some businesses were government mandated to incur losses in the hundred of thousands, while attracting subsidies of less than 20% of losses. SME with turnover less than $10 mill had to qualify for Jobkeeper via quarterly statements. These failed businesses are now largely ignored, swept aside and bundled with the carnage of regular business failure. Auctions houses are running a brisk trade selling off hard won assets and businesses built over decades of toil, business that in many cases have been forced to fail through no fault of their own!
While wages have stalled and big business done well in recent years, this reality is not universal as many SME have been decimated by forced government lockdowns, essentially sacrificed, so as to protect under-funded and resourced hospitals.There is now a quiet resignation of failed businesses, liquidating after failing to navigate 2 years of forced business closure where some businesses were government mandated to incur losses in the hundred of thousands, while attracting subsidies of less than 20% of losses. SME with turnover less than $10 mill had to qualify for Jobkeeper via quarterly statements. These failed businesses are now largely ignored, swept aside and bundled with the carnage of regular business failure. Auctions houses are running a brisk trade selling off hard won assets and businesses built over decades of toil, business that in many cases have been forced to fail through no fault of their own!