The Hidden Struggles of Female Entrepreneurs in New Zealand

New Zealand is witnessing a significant rise in business closures, with 10,662 companies shutting down in 2024. Female entrepreneurs are disproportionately affected, often exiting their businesses due to personal and family demands. This trend highlights the struggles women face in balancing entrepreneurship and household responsibilities.

New Zealand is experiencing an unprecedented wave of business closures, marking the highest rate since 2015. In the second quarter of 2024 alone, 10,662 companies were struck off the Company's Office quarterly register, a 35.6% spike compared to the previous year.

Particularly hard-hit are female entrepreneurs, with several high-profile women-owned businesses such as Supy, Sunfed, and Mina closing down. A global report underscores that family commitments and the lasting impacts of the pandemic have posed greater challenges for women entrepreneurs than for men.

In-depth research reveals that many women exit their businesses not due to financial issues but to preserve a viable home life. Interviews with women founders highlight the gendered responsibilities that often force them to prioritize family over business, casting a shadow on the notion that entrepreneurship guarantees work-life balance.

(With inputs from agencies.)