The number of businesses in New Zealand has surpassed the half-a-million mark for the first time.

Statistics New Zealand has just released the latest data on national companies.

It shows there were just over half a million firms earlier this year, up almost 2% on last year.

The number of paid employees within the country has also increased, to more than two million.

Growth is being led by the construction industry, with a large increase in the number of residential builds.

Otago's growth is in line with the rest of the country.