2024 NZ small businesses face severe economic challenges, worse than 2008 GFC, with construction, retail, and hospitality hit hardest.
New Zealand's small businesses are facing severe economic challenges, worse than during the 2008 Global Financial Crisis. Company liquidations rose 40% in early 2024, with construction, retail, and hospitality hit hardest. High inflation and interest rates have reduced consumer spending, prompting government cutbacks. While some sectors report demand growth, rising costs and financial strain persist. A recent drop in interest rates has boosted business confidence, but future outcomes remain uncertain.
October 02, 2024
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