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Zombie Companies on the Rise 🧟♂️
ASX-listed ‘zombie companies’ have risen 51% in the last 6 months from 84 to 127.
Maziar Foroudian
November 03, 2023
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In this week’s edition of Let’s Talk, our experts delve into and discuss ways for SMEs to effectively assess and minimise risks in their business operations.
KPMG that has found ASX-listed ‘zombie companies’ have risen 51% in the last 6 months from 84 to 127.
As the eagerly anticipated Black Friday and Cyber Monday sales events approach, new research suggests that retailers may experience a temporary slowdown in sales.
Insolvency Australia has introduced a national helpline, the first of its kind, aimed at providing insolvency guidance to businesses, individuals, and trusted advisers.
Commercial credit demand fell by 5.2% in Q3, marking the largest year-on-year drop in demand since 2021.
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Top stories
Australia’s national science agency, CSIRO, is expanding its Kick-Start program to benefit more SMEs and scale-ups in need of research and development funding and expertise. The program offers facilitation and dollar-matched funding, helping small businesses access CSIRO’s research capabilities.
Australia
New legal opinion holds company directors personally liable for not considering risks associated with nature. Similar to the impact of climate change opinion, this could drive changes in corporate behavior.
Australia's wine industry faces uncertainty as China reviews the tariffs placed on Australian wine. However, the review is not a quick fix for the oversupply problem and may only result in a sugar hit rather than a long-term solution.
Australian economy
The Australian Taxation Office has surprised small businesses by reviving dormant tax debts, including balances as low as 31 cents, leading to frustration and extra work for tax agents.
The National Disability Insurance Scheme (NDIS) in Australia has blown out by $11.4 billion since last year, provoking concerns about its sustainability and prompting calls for transparency. The scheme, which is expected to cost $41.3 billion this year, has a long history of exceeding its budget.
World
India's equities rally has led to a surge in small- and medium-sized companies going public, making it one of the world's busiest listings markets. However, political risk and disappointing earnings may pose challenges for future IPOs.
The US Treasury's announcement of its debt-issuance plans overshadowed the Federal Reserve's decision to hold interest rates. Yield in the bond market fell and stocks rose as a result.
The news of WeWork's looming bankruptcy highlights the impact the company had on millions of people across 39 countries, creating a shared work experience and fostering a unique atmosphere.
From a stable economy to attractive tax incentives, diverse investment opportunities, a strong financial services sector, and favorable exchange rates, the UK offers a secure and promising environment for profitable investments.
Tech
Sam Bankman-Fried, founder of FTX crypto exchange, is accused of building his empire on deceit and false promises, according to a federal prosecutor's closing statements. The case will have significant implications for both Bankman-Fried's business and the volatile crypto industry as a whole.
YouTube is cracking down on ad-blocking extensions, prompting users to either allow ads or subscribe to YouTube Premium, as the company seeks to protect its primary revenue source. Google's efforts to combat ad-blockers have sparked outrage from users.
Google has confirmed a bug with its October 2023 core update, causing issues with Google Discover traffic. If you've noticed a decrease or increase in traffic, this could be the reason.
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