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A recently released report from ASIC confirms what Grant Thornton’s Restructuring Advisory team has been experiencing firsthand – the Small Business Restructure (SBR) process is making a real difference for Australian businesses doing it tough.
Introduced in 2021 to assist companies to bounce-back after the COVID pandemic, the SBR framework has enabled thousands of small businesses to reduce debt, retain control, keep their people employed, and continue trading.
The ASIC report shows a sharp rise in uptake of the SBR process recently, from just 82 appointments in its first 18 months to over 1,400 in 2023-24, with projections of over 3,000 for 2024-25. The report also found the Construction and Hospitality industries account for half of all appointments, reflecting the sectors most impacted by recent economic conditions and the cost-of-living crisis.
Key statistics from the ASIC report highlighting the SBR processes effectiveness in preserving viable businesses include:
Grant Thornton’s Restructuring Advisory team has played a key role in supporting clients through the SBR process and has assisted many of its clients to successfully reduce debt and keep their business running.
John McInerney, Partner – Restructuring Advisory at Grant Thornton said, “We’ve had a run of success helping clients restructure and keep their businesses running. One hospitality client was downsized from four cafés to three after the COVID period. By taking them through the SBR, we saved 70 jobs, restructured legacy debt, and now they have expanded and have six cafés highlighting the benefits of the SBR process.
“We continue to advocate for practical, forward-looking solutions that help Australian small (and some medium) businesses navigate financial distress and emerge stronger.”
Key success factors for directors considering an SBR include:
Importantly, the directors remain in control during the SBR process while working with the restructuring practitioner to develop a debt compromise plan. There is an opportunity for the company’s existing accountant to play an active role in supporting the restructure.
To explore your business’s eligibility for a SBR, read more here.
Read here for more information about the SBR process, and listen to a SBR podcast from Grant Thornton.
Press release
Small Business Restructures are saving Australian businesses
15 Jul 2025
A recently released report from ASIC confirms what Grant Thornton’s Restructuring Advisory team has been experiencing firsthand – the Small Business Restructure (SBR) process is making a real difference for Australian businesses doing it tough.
Introduced in 2021 to assist companies to bounce-back after the COVID pandemic, the SBR framework has enabled thousands of small businesses to reduce debt, retain control, keep their people employed, and continue trading.
The ASIC report shows a sharp rise in uptake of the SBR process recently, from just 82 appointments in its first 18 months to over 1,400 in 2023-24, with projections of over 3,000 for 2024-25. The report also found the Construction and Hospitality industries account for half of all appointments, reflecting the sectors most impacted by recent economic conditions and the cost-of-living crisis.
Key statistics from the ASIC report highlighting the SBR processes effectiveness in preserving viable businesses include:
Grant Thornton’s Restructuring Advisory team has played a key role in supporting clients through the SBR process and has assisted many of its clients to successfully reduce debt and keep their business running.
John McInerney, Partner – Restructuring Advisory at Grant Thornton said, “We’ve had a run of success helping clients restructure and keep their businesses running. One hospitality client was downsized from four cafés to three after the COVID period. By taking them through the SBR, we saved 70 jobs, restructured legacy debt, and now they have expanded and have six cafés highlighting the benefits of the SBR process.
“We continue to advocate for practical, forward-looking solutions that help Australian small (and some medium) businesses navigate financial distress and emerge stronger.”
Key success factors for directors considering an SBR include:
Importantly, the directors remain in control during the SBR process while working with the restructuring practitioner to develop a debt compromise plan. There is an opportunity for the company’s existing accountant to play an active role in supporting the restructure.
To explore your business’s eligibility for a SBR, read more here.
Read here for more information about the SBR process, and listen to a SBR podcast from Grant Thornton.
Experts / Authors
Carla van den Hoorn
Communications Manager
