Contractor bankruptcies in the Australian construction industry : causes and impacts

Research output: Chapter in Book / Conference PaperConference Paperpeer-review

Abstract

![CDATA[The construction industry has one of the highest rates of organisational bankruptcy in Australia. Recently, several building firms have sought legal protection from creditors. This paper examines the impacts of construction company failures, including the economic and societal costs. Several studies conclude that entrepreneurs who suffer from business liquidation have an elevated rate of personal problems than the general population. Additionally, these bankruptcies have significant effects on their families and communities. In the long term, a robust construction industry is required to meet the construction needs of rapid urbanisation and climate-change-related repair and expand the built environment. A better understanding of construction organisations' strategic and operational dynamics should lead to effective initiatives and create a less arbitrary and capricious system that currently causes unnecessary contractor insolvencies. This paper argues that Australia has not paid enough attention to the problem of declining construction capacity despite the predicted fast-growing demand for construction from rapid urbanisation and climate change.]]
Original languageEnglish
Title of host publicationThe 45th Australasian Universities Building Education Association Conference: Global Challenges in a Disrupted World: Smart, Sustainable and Resilient Approaches in the Built Environment, Conference Proceedings, 23 - 25 November 2022, Western Sydney University, Kingswood Campus, Sydney, Australia
PublisherWestern Sydney University
Pages696-705
Number of pages10
Publication statusPublished - 2022
EventAustralasian Universities Building Education Association. Conference -
Duration: 23 Nov 2022 → …

Conference

ConferenceAustralasian Universities Building Education Association. Conference
Period23/11/22 → …

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