Turning the tide together
Backing local business is the key to economic recovery.
New Zealand has a powerful opportunity to turn the tide on rising business closures simply by choosing to support local. That’s the message from Buy NZ Made, which is calling on Kiwis to unite behind homegrown businesses during a time of economic pressure and change.
“Right now, we have a real opportunity to steady the ship through collective action,” says Dane Ambler, executive director of Buy NZ Made. “By backing local now, New Zealanders can help businesses weather the storm, protect jobs, and lay the foundation for a stronger economy.”
The call comes as new data from Centrix shows a 26% increase in company liquidations year-on-year. The construction sector remains the hardest hit, with 765 closures (+46%), followed by hospitality, with 297 closures (+49%). Hospitality businesses are now more than two times as likely to fail as the typical New Zealand business.
Meanwhile, unemployment has risen to 5.2%, the highest since 2020, with 158,000 people unemployed and underutilisation at 12.8%, highlighting the strain on both workers and employers. Despite these figures, Buy NZ Made believes the road ahead can be brighter if communities, businesses, and consumers work together. As well, there are signs of relief. Interest rates are softening, and economic conditions are gradually shifting to create a more supportive environment for recovery. Dane says these changes give New Zealanders a vital window to act.
“With lower interest rates and community-driven support, we can help businesses not just survive but come out of this stronger,” he says.
“Every local purchase counts. Every time you choose NZ-made, you’re casting a vote for a resilient, self-sustaining economy.”
Buy NZ Made is encouraging consumers, retailers, and corporates alike to prioritise New Zealand-made goods and services, especially heading into the busy summer season.
“We are heading into a more positive trading period over the next few months with Black Friday on 28 November, Cyber Monday on 1 December, and then the Christmas trading period coming up, followed by New Year’s sales events. Hopefully, that is enough to keep many retailers afloat,” Dane says.
“This is more than a campaign, it’s a movement,” Dane says. “If we want thriving towns, strong employment, and a stable economy, we all have a part to play. And the good news is it starts with something as simple as choosing local.”
