Small Business

Mr TELFER (Flinders) (15:22): My question is to the Minister for Small Business. Have business failures hit their highest level since the COVID pandemic? If so, what is the Minister for Small Business doing about it? With your leave, sir, and that of the house, I will explain.

Leave granted.

Mr TELFER: The latest CreditorWatch report indicates that business failures have hit their highest level since October 2020.

The Hon. A. MICHAELS (Enfield—Minister for Small and Family Business, Minister for Consumer and Business Affairs, Minister for Arts) (15:22): I thank the member for the question. I don't have the report in front of me but my recollection is that South Australia has one of the lowest rates in the country for business failures. I think Norwood, from my recollection—I will correct it if it's not right—has the lowest rate of failures in any suburb in the whole country.

Mr Telfer interjecting:

The SPEAKER: Member for Flinders, if you want another question, you will stop interrupting the answer to your previous question.

The Hon. A. MICHAELS: From the stats that are coming through, this state is actually doing quite well economically. Our small businesses are doing well. We are certainly providing supports to small business owners at various stages of their journey to make sure they are not only surviving but growing. We are seeing very much reduced rates of insolvencies here in South Australia.