First Time Administrations May 2025

In May FY25, 1,308 businesses entered external administration for the first time—more than double the five-year average of 611.0, and higher than May FY24’s 1,249.

Although slightly down from April’s 1,225, the figures remain significantly elevated, suggesting that financial stress across the economy is far from easing. Expectations of a slowdown following March’s peak have not materialized, reinforcing the unpredictable nature of current market conditions.

In this environment, trade credit insurance continues to be a vital tool for businesses. It helps safeguard against payment defaults, supports cash flow, and enables companies to trade with confidence despite ongoing volatility.

As FY25 draws to a close, resilience and risk management remain top priorities for businesses navigating uncertain terrain.