Number of businesses in New Zealand up 2 percent

The number of businesses increased 2 percent in February 2007 compared with February 2006, StatisticsNew Zealand said today.

In February 2007, there were about 463,000 businesses in New Zealand.

Property and business services continued to be the industry with the largest number of businesses, representing 32 percent of allenterprises in New Zealand.

The increase in business numbers resulted mainly from property and business services (up 6,900), followed by finance and insurance (up 1,900).

The majority of the new businesses inthese industries were non-employing (88 percent in property and business services, and 92 percent infinance and insurance).

Ninety-seven percent of businesses had fewer than 20 employees, but in total this group accounted for less than a third of all New Zealand employees.

Ninety-six percent of the annual growth in business numbers comes from businesses with fewer than 10 employees.

Business numbers increased in all regional council areas in February 2007 compared with February 2006.

More than three-quarters of New Zealand businesses were located in the North Island, with 31 percent inthe Auckland region.

The number of businesses increased by 2 percent in both the North Island and the South Island.

This is the first official publication of an improved set of business demography statistics based on a recentlydeveloped statistical resource, the Longitudinal Business Frame.

The new series, which has been releasedon a provisional basis, has been backcast until February 2000 and includes expanded industry coverage.

Further statistics on business birth, death, and survival rates will be published on 26 March 2008.