In New Zealand, there were:
+10,236 more businesses in the 2020 February year (pre-Covid lockdowns) = 60,519 enterprise births – 50,283 enterprise deaths
-321 fewer businesses in the 2021 February year = 64,488 enterprise births – 64,809 enterprise deaths
The last year enterprise deaths exceeded births was 2012
Since 2015:
60,000 enterprises have been created every year
50,000 enterprises have closed every year
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What has happened since February?
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Have your say
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NOTES:
- This data comes from Stats NZ’s annual Business Demography Statistics which shows March-February data. It started in 2000 and has measured enterprise births and deaths since 2001.
- In 2004, the method was improved and started to include more non-employing businesses. This is why 2005 onwards is the more accurate timeframe to measure enterprise births and deaths.
- The March-February 2022 data, which includes the March lockdowns and also the latest August-December 2021 lockdowns, will be released in October 2022.
- Stats NZ uses the terminology “enterprise births” and “enterprise deaths”.
- An “enterprise” is a business or service entity operating in New Zealand. It can be a company, partnership, trust, estate, incorporated society, producer board, local or central government organisation, voluntary organisation, or self-employed individual.
- The data only counts “economically significant enterprises” which are a) GST registered entities with turnover greater than $30,000 per year or b) non-GST registered entities who returned IR10 income forms showing revenue of $40,000 or more.
- All numbers are provisional and subject to revision.
- Companies Office data cannot be used to accurately illustrate business closures because a) many companies are not operating entities, e.g. parent companies, IP holding companies, inactive companies, and b) companies are only one type of business structure.
Thank you to the Factors who helped us pull this research together
SOURCES:
Custom 2000-2021 report produced by Stats NZ for theFacts
2012-2021 data can be found via https://www.stats.govt.nz/information-releases/new-zealand-business-demography-statistics-at-february-2021 (webpage) and New Zealand business demography statistics: At February 2021 (Excel file, table 3)
You might also be interested in the monthly “Enterprise Counts” data available via http://infoshare.stats.govt.nz/Default.aspx
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This work is based on/includes Stats NZ’s data which are licensed by Stats NZ for reuse under the Creative Commons Attribution 4.0 International licence.
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