Retail and service-based startups fall dramatically as failures rise

Business failures rose 25 percent during the June quarter to reach their highest level in 12 months. Smaller businesses and those in the retail, finance and service sectors recorded the highest failure rates, indicating firms in troubled sectors of the economy are struggling to stay afloat during periods of reduced cash flow. According to the latest Dun & Bradstreet Business Failures and Start-ups Analysis, almost 3000 firms failed in the second quarter of 2011.

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Source: Dun & Bradstreet Australia