NZ small business sales shrink but 'middle of the pack' globally, says Xero

The last time small business sales growth shrank was the Auckland lockdown. (Image: Getty)

Thu, 26 Oct 2023

Sales by small businesses have plunged into negative territory for the first time in two years, while Australia’s have surged ahead, Xero says its data shows.Small business sales revenue last month decreased by 1.5% compared with the same month last year. Xero said the last time this happened was when Auckland’s small businesses were in lockdown. Across the Ditch in Australia, monthly small business sales grew by 5.5% over the same period year-on-year.There was also a 5.4% drop in small business sales within the agriculture sec...

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