Construction industry collapses surge as sector battles inflation, cash flow limitations and the COVID hangover
Construction company collapses have surged over the last 12 months, as Australian builders battle the end of COVID-era economic stimulus, vulnerabilities in long-established payment models and the impact of rapid inflation and interest rate rises.
Home furnishing innovator DIY Blinds secures $15 million investment from Australian Business Growth Fund
DIY Blinds has received a $15 million investment from the Australian Business Growth Fund after winning over the public-private partnership with its plan to reboot the window furnishing sector.
Contracts, cashflow and equity: Five signs a building company might collapse
The last year has been tough on the building industry with around eight in 10 construction companies forced to use their own funds in order to complete a client's home.
Innovation in industry: Real approaches to change and transformation
Innovation can take many forms, from new technology and changes to product and process improvements. These offer many important advantages to businesses and are often key to business growth.
Metricon to cut workforce by 9% as inflationary pressures and a building backlog weigh on the sector
Hardship continues for Australia's largest home-builder Metricon, which is set to reduce its 2500-strong headcount as the sector is buffeted by economic headwinds.
ABCC has powers wound back as federal government prepares its abolition
The government this week will take the first step in killing off the controversial Australian Building and Construction Commission by stripping back its powers “to the bare legal minimum”.
Cash-in-hand leniency is well and truly over, ATO says, after receiving 43,000 ‘shadow economy’ tip-offs
The ATO has unveiled new data on its 'shadow economy' enforcement activities, as it cracks down on unregulated transactions estimated to keep $11 billion from the taxpayer each year.
“Hard economic landing”: Builders urge RBA to take its time on another interest rate hike as construction faces the brink
The construction industry is weighing the need to combat inflation against the likelihood rising interest rates will deter new home buyers.
Victorian homebuilder Waterford Homes the latest constructor to call in the liquidators
The Geelong-based company is the latest construction firm to struggle as material costs and fixed-price contacts dig into the sector.
“Canary down the inflationary coalmine”: Government support needed to shield construction, industry group says
Canberra should use all the tools at its disposal to shield the construction sector from inflationary pain, Master Builders Australia says.
Construction leader Metricon plays down solvency concerns amid reported meetings with Victorian government
Housing giant Metricon has denied experiencing solvency issues, amid media reports that company leaders are meeting with creditors.
Construction industry “culture” is keeping small businesses from stepping forward with complaints: Victorian Small Business Commission
Construction sector complaints are underrepresented as a share of calls for assistance, the Victorian small business commissioner says.
