Small Business Cashflow Scheme Loans in Default Reach 10,000
Wednesday 13 December 2023, 5:48AM
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Data from the IRD shows that the number of Small Business Cashflow Scheme loans in default has reached 10,000, with debt totalling $177m.
Buy NZ Made Executive Director, Dane Ambler, said that whilst the scheme helped businesses stay afloat during Covid, the current trading environment is proving to be exceptionally tough, with liquidations up 40% on last year.
The quarterly sales volumes for 13 of the 15 retail industries are down on last year, reinforcing the need for shoppers to support local businesses. Buy NZ Made is urging people to buy New Zealand-made gifts this Christmas in a bid to support local jobs and the local economy.