A wave of business failings is expected on the horizon.

BWA Insolvency's latest report shows 20 percent more business fell in the third quarter of 2023, than in the same time last year.

Their managing director says more are inevitable, with the central Government attempting to drive down discretionary spending.

Bryan Williams says there are also an increase in costs and labour shortages.

"And there is a worldwide downturn of commercial activity. Add all those together, and the end of the rainbow doesn't look like gold."

LISTEN ABOVE

A wave of business failings is expected on the horizon.
BWA Insolvency's latest report shows 20 percent more business fell in the third quarter of 2023, than in the same time last year.
Their managing director says more are inevitable, with the central Government attempting to drive down discretionary spending.
Bryan Williams says there are also an increase in costs and labour shortages.
"And there is a worldwide downturn of commercial activity. Add all those together, and the end of the rainbow doesn't look like gold."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.