Buy NZ Made urges New Zealanders to prioritise homegrown products and businesses.
A fresh Centrix data shows company liquidations hitting a 14-year peak, despite emerging signs of broader economic confidence.
Buy NZ Made said the data underscores the challenges confronting numerous New Zealand-owned businesses, especially small and medium enterprises (SMEs) that are crucial to the local manufacturing, retail, and service industries.
In October, there were 327 business liquidations. The construction sector was the hardest hit, with 753 companies liquidated over the past year. Hospitality followed, experiencing 318 liquidations in the same period.
“Every liquidation represents jobs lost, capability lost, and part of our local supply chain disappearing. We are not out of the woods yet,” Buy NZ Made executive director Dane Ambler said.
Even though consumer arrears are stabilising and confidence among both businesses and consumers is improving, the recovery remains delicate. Industries with significant New Zealand ownership—construction, manufacturing, hospitality, and retail—tend to be most severely impacted.
“This is exactly why supporting New Zealand-made products and services matters,” Ambler said.
“When consumers choose local, more money circulates within our economy, helping businesses stay afloat, protecting jobs, and strengthening regional communities.”
“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.”