ASIC Report 810: What the Official Data Reveals About SBR

TL;DR: ASIC Report 810 shows 3,388+ SBR appointments since January 2021, an 87% plan approval rate, and 93% of companies still trading post-restructure. The ATO votes yes over 90% of the time. Median restructuring practitioner fee is $16,137; median plan fee is $6,739. Typical debt reduction is 60-80%, with most cases involving $100k-$500k in liabilities. Construction, hospitality, and transport are the top industries using SBR.

When it comes to Small Business Restructuring, there is a lot of speculation. But what does the official data actually say?

ASIC Report 810 is the most comprehensive public dataset on SBR outcomes to date. Here is what the numbers show.

ASIC Report 810 SBR Statistics at a Glance

• 3,388+ appointments since SBR began in January 2021
• 87% plan approval rate at creditor vote
• 93% still trading after completion
• 60-80% typical debt reduction (20-40 cents in the dollar)
• $15,000-$30,000 typical total cost
• ATO approval over 90% where it is a major creditor

About ASIC Report 810

ASIC (Australian Securities and Investments Commission) is Australia’s corporate regulator and insolvency supervisor. Report 810 analyses SBR appointments and outcomes since introduction.

This is not opinion or marketing material. It is official government reporting.

SBR Headline Numbers from ASIC

3,388+ Appointments

Since SBR became available in January 2021, more than 3,388 formal appointments have occurred.

87% Approval Rate

When SBR plans proceed to creditor vote, 87% are approved.

93% Still Trading

Of businesses that complete SBR, 93% continue trading afterward.

60-80% Typical Debt Reduction

Typical accepted plans are around 20-40 cents in the dollar, implying a 60-80% compromise.

What the SBR Data Suggests About Business Viability

SBR Works for Viable Businesses

The combination of high approval and strong post-process trading continuity supports SBR’s policy intent: preserve viable businesses.

Creditors Are Pragmatic

Creditors, including the ATO, appear to support plans that offer better outcomes than liquidation.

Outcomes Are Not Just Short-Term

The ongoing trading figure indicates many businesses are not merely delayed failures, but sustainable survivors.

SBR Industry Breakdown: Which Sectors Use It Most

Most Common Industries Using SBR

1. Construction
2. Hospitality
3. Transport
4. Retail
5. Professional services

Construction remains the dominant sector, reflecting cash-flow pressure, margin compression, and payment dispute exposure.

SBR Debt Profile and Creditor Mix

Typical Debt Range

Most SBR cases sit between $100,000 and $500,000. The $1 million cap is often not reached.

Common Creditor Mix

• ATO
• Trade creditors (suppliers/subcontractors)
• Landlords (especially hospitality/retail)
• Finance companies (asset and working capital facilities)

SBR Cost Analysis: Restructuring and Plan Fees

Restructuring Phase

Median cost: about $16,000

Usually includes:

• Practitioner investigation
• Plan development
• Creditor communication
• Statutory lodgements

Plan Administration

Median cost: about $6,700

Usually includes:

• Monitoring plan implementation
• Collecting and distributing funds
• Ongoing compliance supervision
• Plan completion administration

Total Typical Range

$15,000-$30,000 for most SBR matters.

This is generally well below typical voluntary administration cost ranges.

SBR Creditor Returns vs Liquidation

SBR vs Liquidation

Metric	SBR	Liquidation
Typical return	20-40 cents	5-10 cents
Cost drag	Lower	Higher
Timeline	Faster	Slower
Business survival	Usually yes	No

Higher expected return helps explain strong creditor approval rates.

ATO Voting Patterns on SBR Plans

The ATO is often a major creditor and materially influences vote outcomes.

Over 90% Approval (When ATO Is a Major Creditor)

Why the ATO Often Supports SBR

• Better return than liquidation
• Surviving businesses continue paying future tax
• Alignment with policy intent to preserve viable firms
• Practical, commercially realistic recovery approach

Practical Implication

If the ATO is your largest creditor, support probability is often higher than many directors assume.

SBR Timeline: How Long Does It Take

Typical Timeframe

• Restructuring phase: 20 business days (~4 weeks)
• Voting period: 15 business days (~3 weeks)
• Total to vote outcome: ~35 business days (~7 weeks)
• Plan duration: up to 3 years

Compared with other formal pathways, SBR is typically quicker to initial resolution.

SBR Adoption Trends Over Time

Increasing Usage

Appointments have trended upward since launch.

Stable Success Rates

The approval profile appears relatively consistent.

Broader Industry Adoption

While construction leads, SBR usage is spreading across sectors.

What Helps SBR Plans Get Approved by Creditors

Data patterns suggest successful plans tend to:

• Offer realistic creditor returns
• Demonstrate post-restructure viability
• Provide complete and credible disclosure
• Secure key creditor support (especially ATO where relevant)

Common SBR Plan Rejection Drivers

The rejected minority often reflects:

• Insufficient return versus alternatives
• Weak viability case
• Compliance gaps (lodgement and documentation)
• Hostile or fragmented creditor dynamics

SBR Compared with Voluntary Administration and Liquidation

SBR vs Voluntary Administration

Metric	SBR	VA
Approval rate	87%	Varies widely
Cost	$15,000-$30,000	$50,000-$150,000+
Director control	Retained	Lost
Timeline to vote outcome	~35 business days	Typically longer and more complex
Ongoing trading	93%	Usually lower

SBR vs Liquidation

Liquidation is an end-state process. SBR is a continuity process for viable businesses.

What ASIC Report 810 Means for Business Owners

• SBR is established: thousands of real appointments
• Success probability can be favorable: high approval and continuation rates
• Creditors are often commercial: especially where return exceeds liquidation
• Cost envelope is clearer than many assume
• Outcomes are evidence-based, not theoretical

Limits of the ASIC SBR Data

Sample Window

Current reporting covers early years of a still-maturing process.

Selection Effects

Businesses entering SBR may differ from distressed businesses that never enter.

Case-by-Case Variation

Statistics are directional, not guarantees.

Bottom Line

ASIC Report 810 supports SBR as a functional restructuring option for eligible, viable small businesses.

Key signals remain consistent:

• Strong use
• High approval rates
• High post-process trading continuity
• Material debt compromise outcomes
• Predictable cost band relative to alternatives

Data should guide decisions, but never replace advice specific to your business and timing.

Accessing ASIC Report 810

ASIC Report 810 is publicly available on the ASIC website. Use it as context, then test your specific position with qualified restructuring advice.