Suggestions an IRD crackdown could be contributing to the increasing number of company liquidations

Credit specialist Centrix says liquidations are up 37 percent annually, with 263 liquidations in February compared with 192 in the same month last year.

Kare Johnstone from the Restructuring Insolvency and Turnaround Association says the IRD has been clear about its intention to increase enforcement.

Johnstone says the numbers aren't set to change anytime soon.

She says people's budgets are stretched, which decreases their demand, and in turn makes economic growth tricky for businesses.