30 Oct 2009

New business numbers down

6:36 pm on 30 October 2009

The recession has hit the number of new businesses being created.

Statistics New Zealand says the number of start-ups in the year to February slumped by 15%, to hit a six-year low.

The number of businesses shutting their doors in the year to February rose 3% to 53,000.

The number of start-ups fell to 52,000, resulting in a 0.3% increase in the number of companies during the year.

Construction and hiring and real estate-related companies had the highest attrition rate.