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2026\u5e74\uff0c\u60c5\u51b5\u5df2\u7ecf\u5f00\u59cb\u51fa\u73b0\u4e00\u4e9b\u6539\u5584\u8ff9\u8c61\u3002\u9910\u996e\u884c\u4e1a\u7684\u9500\u552e\u989d\u6b63\u5728\u6062\u590d\uff0c\u6d88\u8d39\u8005\u4fe1\u5fc3\u4e5f\u8f83\u524d\u671f\u6709\u6240\u6539\u5584\uff0c\u5229\u7387\u4e0b\u964d\u540c\u6837\u6709\u52a9\u4e8e\u7f13\u89e3\u5bb6\u5ead\u538b\u529b\u3002<\/p>\n\n\n\n

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SPQR\u7684\u5173\u95ed\u3001The Grove\u7684\u544a\u522b\u3001Vivace\u7684\u6e05\u76d8\uff0c\u4ee5\u53caDragonboat\u7b49\u8001\u724c\u4e2d\u9910\u5385\u9000\u51fa\u5e02\u573a\uff0c\u8bf4\u660e\u7684\u5e76\u4e0d\u4ec5\u4ec5\u662f\u201c\u67d0\u4e2a\u8001\u677f\u7ecf\u8425\u5931\u8d25\u201d\u3002<\/p>\n\n\n\n

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<\/p>\n\n\n\n

From SPQR to Dragonboat: Restaurants Are Closing One by One \u2014 What Does This Say About New Zealand\u2019s Consumer Economy and Business Environment?<\/h1>\n\n\n\n

<\/p>\n\n\n\n

The past two or three years have been difficult for New Zealand\u2019s hospitality industry.<\/p>\n\n\n\n

From the long-established SPQR in Ponsonby to city-centre institutions such as Vivace and The Grove, and from the more than 30-year-old Chinese restaurant Dragonboat to familiar names in Auckland\u2019s Chinese community such as Sun World Seafood, a growing number of restaurants have closed, entered liquidation or withdrawn from the market.<\/p>\n\n\n\n

Behind these closures lies an increasingly familiar story across New Zealand hospitality: customers are becoming more reluctant to spend, while labour, rents, food, electricity and insurance costs remain stubbornly high. For small restaurants operating on thin margins, even a modest decline in revenue can quickly wipe out profitability.<\/p>\n\n\n\n

Centrix data show that 376 hospitality businesses entered liquidation in 2025, an increase of around 50 per cent from the previous year. The pressure has not fully eased in 2026. Earlier rolling 12-month figures put hospitality liquidations at around 380.<\/p>\n\n\n\n

This is no longer simply a matter of a handful of poorly run restaurants.<\/p>\n\n\n\n

The more important question is why an industry once regarded as relatively accessible to entrepreneurs, and capable of supporting large numbers of jobs, is seeing so many owners decide that it is no longer worth continuing.<\/p>\n\n\n\n

The pandemic is certainly part of the explanation. Global inflation, higher interest rates, mortgage pressures and weaker consumer spending are also factors that no New Zealand government can resolve on its own.<\/p>\n\n\n\n

But there is a political point that cannot be avoided. Since the National-led coalition government came to office in November 2023, it cannot indefinitely attribute every difficulty to the previous government, the pandemic or international conditions.<\/p>\n\n\n\n

With government comes responsibility.<\/strong><\/p>\n\n\n\n

The Government can point to an economy that is gradually recovering. For a restaurant owner, however, an economic recovery does not necessarily mean that business has recovered.<\/p>\n\n\n\n

A restaurant is less concerned with the headline GDP growth rate than with how many tables are occupied on a Friday night, whether customers order a second drink, and whether families still feel comfortable going out for dinner.<\/p>\n\n\n\n

That is why hospitality provides such a useful lens through which to view the wider New Zealand economy.<\/p>\n\n\n\n

The cost-of-living crisis has changed consumer behaviour. A family meal out that was once an ordinary weekend expense has become something many households now consider carefully. Lunches are replaced by takeaway or meals at home; a daily coffee becomes an occasional purchase; and expensive restaurants are often among the first discretionary expenses to be cut.<\/p>\n\n\n\n

For restaurants, the economics move in the opposite direction.<\/p>\n\n\n\n

Wages cannot simply be reduced. Commercial rents do not automatically fall when customer numbers decline. Food prices have not returned to pre-pandemic levels. Yet if restaurants raise menu prices to protect their margins, they risk driving away even more price-sensitive customers.<\/p>\n\n\n\n

The result is a difficult cycle:<\/p>\n\n\n\n

Consumers spend less, restaurants raise prices; higher prices make consumers more cautious; falling foot traffic forces restaurants to cut staff and opening hours.<\/strong><\/p>\n\n\n\n

Eventually, some businesses have no choice but to leave the market.<\/p>\n\n\n\n

The National, ACT and New Zealand First coalition can reasonably argue that many of these problems were already developing before 2023. That is true.<\/p>\n\n\n\n

But political responsibility cannot belong to the government when the news is good and to its predecessor when the news is bad.<\/p>\n\n\n\n

If economic growth, falling inflation and improving employment are presented as evidence of successful government policy, then rising business failures, weak consumption and strained small-business cash flow must also be part of the political conversation.<\/p>\n\n\n\n

One particularly awkward fact for the Government is that it did not formally launch its review of the hospitality sector\u2019s regulatory environment until October 2025. The Government itself acknowledged that businesses had been dealing with outdated, overlapping and confusing rules.<\/p>\n\n\n\n

The review is welcome.<\/p>\n\n\n\n

But it is fair to ask why a systematic examination of these rules came only after a substantial number of hospitality businesses had already disappeared.<\/p>\n\n\n\n

For a large corporation, another administrative requirement may be an inconvenience. For a small restaurant employing a dozen people, another licence, compliance obligation, inspection or unexpected cost can have a direct impact on cash flow.<\/p>\n\n\n\n

Governments often talk about reducing regulation and lowering the burden on business. What businesses ultimately need, however, is not another policy statement. They need lower costs and a more workable operating environment.<\/p>\n\n\n\n

Tax policy raises a similar question.<\/p>\n\n\n\n

In recent years, Inland Revenue has intensified the recovery of overdue tax and the use of liquidation proceedings. In the 2024\/25 financial year, IRD referred 650 cases to the courts seeking liquidation orders, an increase of 49 per cent. At the end of June 2025, total tax and related debt stood at approximately NZ$9.3 billion.<\/p>\n\n\n\n

From the Government\u2019s perspective, collecting tax that is legally owed is entirely legitimate. Businesses that repeatedly fail to meet their tax obligations cannot simply expect compliant businesses to carry the cost.<\/p>\n\n\n\n

But during a period of weak demand, how the Government deals with small businesses that have viable operations, assets and customers but temporarily lack sufficient cash flow is also a test of policy judgement.<\/p>\n\n\n\n

If a restaurant is facing a short-term cash-flow crisis but still has a realistic prospect of recovery, should the response be immediate enforcement and liquidation, or should there be greater scope for restructuring and repayment over time?<\/p>\n\n\n\n

This is not simply a question of whether taxes should be collected. It is a question of how a government balances fiscal discipline with the survival of otherwise viable small businesses.<\/p>\n\n\n\n

That is one of the more difficult issues for the National-led coalition to avoid.<\/p>\n\n\n\n

The Government cannot simultaneously emphasise entrepreneurship, small business and the private sector as the engines of the economy while leaving large numbers of small businesses to absorb the full impact of weak demand, high costs and fragile cash flow.<\/p>\n\n\n\n

That said, it would be unfair to attribute New Zealand hospitality\u2019s difficulties entirely to the National Party.<\/p>\n\n\n\n

Before 2023, the industry had already been hit by Covid restrictions, supply-chain disruption, rising wages and high inflation. The Reserve Bank\u2019s aggressive interest-rate increases to contain inflation subsequently placed additional pressure on household and business spending.<\/p>\n\n\n\n

None of these problems was created by National.<\/p>\n\n\n\n

The question for the National-led coalition is different: during its years in office, has it done enough, and done it quickly enough, to rebuild domestic demand?<\/strong><\/p>\n\n\n\n

That is what many business owners are ultimately interested in.<\/p>\n\n\n\n

For a restaurant, a tax cut does not automatically put more customers through the door. Cutting government spending does not, by itself, fill another ten tables on a Friday night.<\/p>\n\n\n\n

The hospitality industry needs consumers to regain confidence, employment to remain stable, mortgage pressures to ease, tourism to strengthen, and businesses to be able to hire, operate and invest without unnecessary cost and complexity.<\/p>\n\n\n\n

Ultimately, economic policy comes back to a very simple question:<\/p>\n\n\n\n

Do ordinary New Zealanders have enough money \u2014 and enough confidence \u2014 to walk into a restaurant and spend it?<\/strong><\/p>\n\n\n\n

There are signs of improvement in 2026. Hospitality sales have begun to recover, consumer sentiment has improved from its earlier lows, and lower interest rates are easing pressure on households.<\/p>\n\n\n\n

But that does not mean the scars of the previous few years have disappeared.<\/p>\n\n\n\n

When a restaurant that has operated for 20 or 30 years closes, it is not simply the owner who loses an income. Chefs, waiters, suppliers, landlords and neighbouring businesses can all lose revenue.<\/p>\n\n\n\n

More importantly, long-established restaurants are part of a city\u2019s commercial memory.<\/p>\n\n\n\n

The closure of SPQR, the farewell to The Grove, the liquidation of Vivace and the departure of long-standing Chinese restaurants such as Dragonboat represent more than the failure of individual businesses.<\/p>\n\n\n\n

They are economic barometers.<\/p>\n\n\n\n

When the temperature falls, it is often not the large listed companies that feel the coldest first. It is the caf\u00e9 on the corner, the family restaurant, the small retailer, the hairdresser and the independent business owner.<\/p>\n\n\n\n

That is why the issue deserves attention ahead of the 2026 general election.<\/p>\n\n\n\n

The Government can continue to argue that many of these problems were inherited. It can point to the pandemic, the international economy and the Reserve Bank\u2019s interest-rate policy.<\/p>\n\n\n\n

There is truth in all of those arguments.<\/p>\n\n\n\n

But voters ultimately judge governments by outcomes, not explanations.<\/p>\n\n\n\n

If National wants to retain the support of business owners, small traders and the middle class, it cannot simply tell them that the economy is getting better. It needs them to feel that running a business is genuinely easier than it was two years ago \u2014 not merely less difficult than it was at the worst point of the downturn.<\/p>\n\n\n\n

For hospitality, the political judgement is ultimately straightforward.<\/p>\n\n\n\n

When one restaurant closes, it would be simplistic to blame the Government. But when hundreds of businesses are failing in succession, the Government cannot pretend that this is simply the market taking its course.<\/p>\n\n\n\n

The market determines which businesses survive. Government determines, to a significant extent, the environment in which they compete.<\/strong><\/p>\n\n\n\n

That is the question the National-led coalition government needs to answer before the 2026 election.<\/p>\n\n\n\n

A restaurant closing is not a vote.<\/p>\n\n\n\n

But if an increasing number of small-business owners conclude that the economic environment is becoming harder rather than easier, that sentiment will eventually find its way into the ballot box.<\/p>\n\n\n\n

And that is what any government seeking re-election should be watching most closely.<\/p>\n","protected":false},"excerpt":{"rendered":"

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