Insolvent trading
Australia has some of the harshest laws in the world when it comes to insolvent trading, but it is also bad business to be trading with cash flow problems. If you consistently pay creditors late they are less likely to give price discounts, key staff feel insecure and can leave, interest payments can cause a further squeeze on business cash flow. It is time to be honest with yourself, put together a realistic budget and consider if the business actually can be profitable. Then either work out how to fund a profitable business or plan what to do with an unprofitable one.