More Businesses Closed Than Opened in 2020

According to BusinessNZ more businesses closed than opened in NZ last year.

Normally around 60,000 businesses are created each year and about 50,000 closes, a net increase of about 10,000. But in 2020 nearly 64,500 were created and nearly 65,000 closed - a net decline of around 300 firms. The last time there was a net decline was after the Global Financial Crisis. And fewer businesses have been listed for sale in recent months, according to ABC Business Sales, with hospitality business sales “non-existent,” but IT and property maintenance firms and supermarket suppliers selling strongly.