Personal liability for unincorporated businesses

Published 3 Aug 2020

Sole traders and partnerships, unlike companies, are personally responsible for debts incurred on their business credit card. If the business runs into trouble and cannot meet its debts, the card issuer will pursue you as an individual for debt recovery, and your personal credit score could be badly damaged.

As seen on

Media - The Sydney Morning Herald
Media - Yahoo Finance
Media - News.com.au
Media - Daily Mail Australia
Media - Australian Fintech
Media - Dynamic Business