
usiness orders are at a record low as Australians cut spending, but some industries are more at risk than others.
CreditorWatch has released data showing which businesses are struggling the most, and the least.
The average predicted business failure rate in the next 12 months is 5.1 per cent, but some industries well outstrip that.
5. Administration and support services
These businesses are on surer ground again – the failure rate forecast to drop from 5.47 per cent to 5.34 per cent. Still above the average.
4. Education and Training
The failure rate for these businesses is forecast to rise from 4.57 per cent to 5.39 per cent.
3. Transportation, postal, and warehousing
Here, the failure rate is set to rise from 5.05 per cent to 5.45 per cent.
17 of 18Attribution: Getty
2. Arts and recreation
Businesses in arts and rec are forecast to have a failure rate of 5.67 per cent in the next 12 months, compared to 5.35 per cent now.
But that pales in comparison to number one.
1. Food and beverage
The hospitality industry has been hit hardest. Its current business failure rate is forecast to rise from 7.51 per cent to 9.08 per cent – or one in every 11.