Source: Buy NZ Made
Buy NZ Made is calling for renewed support for homegrown businesses as new Centrix data reveals liquidations have surged to a 14-year high, even as overall confidence across the economy shows signs of improvement.
The latest figures highlight the pressure facing many New Zealand-owned companies, particularly small and medium enterprises (SMEs) that form the backbone of local manufacturing, retail, and services. Rising operating costs, tighter cashflow, and a slow post-inflation recovery continue to challenge Kiwi businesses-despite indicators that sentiment is improving.
There were 327 business liquidations in October. Construction remains the most affected industry, with 753 firms liquidated during the past year, followed by hospitality with 318 liquidations in the past year, up 45% year-on-year.
Buy NZ Made Executive Director Dane Ambler says while confidence is improving, the latest liquidation numbers show how tough the economic environment still is for New Zealand businesses.
“Every liquidation represents jobs lost, capability lost, and part of our local supply chain disappearing. We are not out of the woods yet.”
Although consumer arrears are levelling off and both business and consumer confidence is picking up, the recovery remains fragile. Sectors with strong New Zealand ownership; construction, manufacturing, hospitality, and retail are usually among the hardest hit.
“This is exactly why supporting New Zealand-made products and services matters,” Ambler says.
“When consumers choose local, more money circulates within our economy, helping businesses stay afloat, protecting jobs, and strengthening regional communities.”
Buy NZ Made says the combination of rising liquidations and improving confidence sends a clear message: the economy is turning a corner, but momentum is fragile.
“We’re cautiously optimistic about 2026. The resilience of Kiwi businesses is remarkable, but they need our support now more than ever. Every local purchase is a vote of confidence in New Zealand’s future.”
Buy NZ Made encourages consumers and procurement teams, both public and private, to prioritise locally made goods and services to help stabilise and grow the domestic economy.
