Over 50,000 NZ businesses shut in 2010

55,000 businesses have closed over the year.

Statistics New Zealand says this is the first time since 2001 that business closures have exceeded business start-ups.

There were 44,000 new businesses, down 20 per cent on the previous year.

The largest number of business to close their doors were in the rental, hiring and real estate services industry, followed by construction and professional services.

The total number of businesses in the country is down 1.7 per cent to 470,000.

- NEWSTALK ZB