double-dip recession

PHOTO: The double-dip recession could coincide with a slew of business failures. Credits: Newshub | Getty

Economists are predicting a double-dip recession in New Zealand’s COVID-19 economic recovery; first, the country will see a dip in the economy followed by a rebound and now there’s a new warning a second dip will be seen.

The second dip is predicted to come early next year. Infometrics predicts up to 180,000 jobs will be lost by June 2021, dragging spending down. The dip could coincide with a slew of business failures.

David Osbourne lost his job as a retail manager due to COVID-19, so he bought two Barbershop Co. franchises.

“It’s been a year of great things that happened for me and yeah, ups and downs, a rollercoaster ride,” he says.

He’s never owned a business before, nor does he know how to handle a razor.

“I did try to cut my son’s hair the other day and it was… absolutely terrible.”

He’s not the only fresh business owner trying to find their way around the tools.