Spike in business failures
The number of new businesses opening their doors has declined, while the number of business failures is on the rise, Dun & Bradstreet reports.The number of business failures rose 42.4 per cent in the third quarter of the year - up from 10,600 in the June quarter to 15,100 in the September quarter.The number of new business formed fell by 13.7 per cent over the same period - down from 72,000 in the June quarter to 62,100 in the September quarter.D&B said business starts in the September quarter were down 2.3 per cent from the same period last year.The Australian Capital Territory, Western Australia and the Northern Territory all reported increases in business failures of more than 50 per cent.The number of new business starts fell in all states and territories.