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13 Jul 2020 23:01
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  •   Home > News > Business

    An look into the initial impact of Covid-19 on small businesses

    An look into the initial impact of Covid-19 on small businesses


    Xero has released its Small Business Insights, showing a 10 percent fall in year-on-year revenue in March - then a 34 percent drop in April.

    New Zealand and Pacific Islands director Craig Hudson says revenue began to fall after New Zealand's first confirmed Covid-19 case.

    He says a four percent drop in small business jobs was surprising because of how quickly the wage subsidy scheme was introduced.

    Hudson says that equates to about 24-thousand jobs - and they went quite early in the process.

    © 2020 Newstalk ZB, NZCity


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