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The owners of these businesses are most likely to default on their home loan

Michael Read
Michael ReadEconomics correspondent

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Retailers, builders and cafe owners are more likely than other company directors to default on their credit cards and home loans, missing payments to keep their embattled businesses afloat.

Research from credit bureau Illion, released to The Australian Financial Review, found that 9 per cent of business owners in the food services sector, 6 per cent of construction firm operators and 5 per cent of retailers were at high risk of defaulting on their personal credit.

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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com

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    Original URL: https://www.afr.com/policy/economy/caf-owners-and-builders-the-most-likely-to-default-on-their-home-loan-20230822-p5dydp