Skills shortage driving SMEs to the brink, says Insolvency Australia

The Public Accountant reports on the skills shortage, highlighted by Insolvency Australia.

“The nationwide skills shortage is becoming a key factor in forcing businesses into insolvency with SMEs hardest hit, said Insolvency Australia.

Director Gareth Gammon said the hospitality, tourism and construction sectors were especially vulnerable.

“We’re in uncharted waters, staff shortages are endemic across multiple industries and the unemployment rate at a record low of 3.5 per cent,” said Mr Gammon.

“This is one of the greatest challenges being faced by businesses, particularly SMEs.”