Four-fifths of Aus businesses 'under pressure'

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Four-fifths of Australian businesses are currently feeling financial pressure, a new survey has revealed.

As reported by smartcompany.com.au, research from the accounting and legal network Black Ink shows that 80 per cent of clients are experiencing difficulty, while almost two-thirds have made insolvency enquiries over the last three months.

As a result, there is likely to be a surge in Australian firms turning to services such Ansarada's secure virtual data rooms, which allow for the swift sales of assets in an online setting.

Simon Cathro, a partner at Deloitte, which supports the Black Ink group, told smartcompany.com.au: "Directors need to make sure they've got proper forecasting and budgeting systems set up so they are tracking the business as closely as possible."

He added that unpredictability was a "big issue" for Australian firms at the moment, making these issues all the more important.

Figures published by the Australian Securities and Investments Commission last month showed that firms in Queensland were at the greatest risk of insolvency, the Courier Mail reported.