1 Dec 2021

Businesses closing at faster rate than new ones opening

From Morning Report, 7:20 am on 1 December 2021

For the first time in nearly a decade, businesses are closing at a faster rate than new ones are opening.

The data from Stats NZ shows that close to 65,000 firms closed their doors in the year ended February, well above the annual long term average of 50,000.

A small business expert says the pandemic is to blame.

But as business reporter Nicholas Pointon finds, that hasn't stopped some budding entrepreneurs.