Australia, 19th Jun 2025, – Macmillan Lawyers and Advisors, a trusted legal advisory firm based in Brisbane, has confirmed its involvement in a growing number of formal small business restructuring (SBR) matters in the region over the past twelve months. The increase reflects a broader trend among small enterprises seeking legal and financial stability amid economic uncertainty.

Small business restructuring, a process formalised under Australian law, enables eligible companies to propose a plan to creditors while maintaining control of their operations. This mechanism is designed for entities with total liabilities under $1 million and provides an alternative to traditional insolvency proceedings such as voluntary administration or liquidation.

Macmillan Lawyers and Advisors, based in Brisbane’s central business district, has been engaged by various Queensland businesses to implement restructuring plans in compliance with federal legislation. The firm’s role includes conducting initial viability assessments, drafting restructuring proposals, and guiding directors through legal obligations throughout the process.

According to recent internal observations, many businesses across sectors including hospitality, retail, and professional services have opted for this route as a preventative measure rather than a reactive one. This reflects a broader shift in how small business operators address prolonged financial stress.

“Small business restructuring provides a lawful and structured approach for companies experiencing financial pressure,” said Kyle Macmillan, Principal at Macmillan Lawyers and Advisors. “The process allows directors to retain operational control while addressing legacy debt in a way that is fair to creditors and compliant with legal standards.”

Under the SBR process, an independent practitioner is appointed to review the proposed plan and manage creditor communications. If a majority of creditors by value vote in favour of the proposal, it becomes binding on all parties. This framework aims to balance the interests of creditors with the preservation of viable businesses.

Since the legislation was introduced, restructuring plans have gained traction for their potential to limit disruption to day-to-day operations and avoid the reputational impact associated with insolvency. However, success depends heavily on accurate financial reporting, timely action by company directors, and careful legal oversight.

Macmillan Lawyers and Advisors has reported that many clients pursuing SBR do so after extended periods of financial hardship stemming from supply chain disruptions, increased borrowing costs, or sector-specific downturns. In some cases, businesses had exhausted informal negotiation options before seeking formal restructuring assistance.

Despite ongoing challenges in the small business landscape, the restructuring process has offered a practical legal avenue for debt resolution. While not every proposal results in approval or long-term recovery, the process has provided a measure of certainty for both business operators and creditors in a complex environment.

“The coming financial year is likely to present continued pressures for small and medium-sized enterprises across Australia,” added Macmillan. “Formal restructuring will remain a relevant and important tool for companies seeking to manage obligations proactively and avoid more severe insolvency outcomes.”

Macmillan Lawyers and Advisors operates from Level 38, 71 Eagle Street in Brisbane. The firm provides legal services in areas including commercial law, contract law, intellectual property, insolvency, and corporate disputes. Engagements related to restructuring are handled with strict adherence to statutory requirements and informed by ongoing developments in regulatory policy.

The firm continues to monitor legislative updates and court decisions relevant to the small business sector and intends to remain engaged in discussions concerning the future direction of Australia’s corporate insolvency framework.

For further information or to request comment regarding the Small Business Restructuring Process, contact Macmillan Lawyers and Advisors at (07) 3518 8030, via email at admin@macmillan.law, or by visiting their office at Level 38/71 Eagle Street, Brisbane City QLD 4000.

Media Contact

Organization: Macmillan Lawyers and Advisors

Contact
Person: Kyle Macmillan

Website:

https://macmillan.law/

Email:

admin@macmillan.law

Contact Number: 61735188030

Address:Level 38/71 Eagle St

Address 2: Brisbane City QLD 4000

Country:Australia

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