Assignment topic
"More often than not, entrepreneurs will fail several times before they make it and will usually learn a lot in the process. To help these entrepreneurs to succeed will require a cultural shift. We need to encourage Australians to take a risk, leave behind the fear of failure and be more innovative and ambitious. Concerns over inadvertent breaches of insolvent trading laws are frequently cited as reason early stage (angel) investors are reluctant to get involved in a startup. Our current insolvency laws put too much focus on penalising and stigmatising the failures..."
Australian Government, The National Innovation and Science Agenda, https://www.innovation.gov.au/
In relation to the current Australian law regarding a director's liability for insolvent trading, prepare a submission to the Australian Government that:
a) Critically analyses the statement that "our current insolvency laws put too much focus on penalising and stigmatising the failures"; and
b) Describes in detail how you would reform the current law and why.