Source: Buy NZ Made
Business closures are fast becoming a daily news story in New Zealand, with new data showing a sharp 26% rise in company liquidations across key industries.
Buy NZ Made is calling for urgent support for Kiwi businesses as closures mount.
“Every day we’re seeing another Kiwi business close its doors, and that’s devastating for owners, workers, and communities,” Buy NZ Made executive director Dane Ambler says.
“But with lower interest rates providing some relief, there’s also an opportunity to steady the ship – if we act collectively to back local.”
New Centrix data shows company liquidations up 26% year-on-year. The construction sector remains the hardest hit, with 765 closures (+46%), followed by hospitality, with 297 closures (+49%). Hospitality businesses are now more than two times likely to fail as the typical New Zealand business.
Meanwhile, unemployment has risen to 5.2%, the highest since 2020, with 158,000 people unemployed and underutilisation at 12.8%, highlighting the strain on workers and employers alike.
Buy NZ Made emphasises that the combination of supportive monetary policy and community-driven consumer choices can make a tangible difference to New Zealand’s recovery.
“The story doesn’t end with the challenges – there’s real opportunity here,” Ambler says.
“By backing local now, New Zealanders can help businesses weather the storm, protect jobs, and lay the foundation for a stronger economy.”
