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ALMOST 40 IRISH companies were dissolved each working day of June this year.
The figure was released by Vision-net.ie today, who reports that companies between 2 – 3.9 years old were the most affected.
Vision-net showed that 13 per cent of those dissolved were under two years old; 21 per cent were 2 – 3.9 years old; 17 per cent were 4 – 5.9 years old; 10 per cent were 6 – 7.9 per cent years old and 10 per cent were 8 – 9.9 years old.
This shows that both established companies and newer companies are experiencing difficulties in the current climate.
Liquidators have been appointed to 47 Irish companies this week, while receivers were appointed to 24 companies.
So far this week, 363 companies have been dissolved around the country.
However, there have been 304 new company set ups during the same period.
It should be put into perspective with number of new companies starting up all the time. Otherwise it tells nothing.
Since recession started, many people who lost their jobs are starting up new businesses, often without proper preparation and business plan. This will result in increase number of failed ventures than it did in the past…
What you are saying is quite correct, does not give a true picture.
Good news doesn’t sell. That’s why we only hear the doom and gloom stories. I’d like the journal to do a section purely related to good news stories in the economy. Would be a nice change.
I love your idea Aaron.
Danny
Nobody seems to be interested in any good news on the economic front, just want to keep selling the bad news!
It’s really difficult out there , many are barely existing hopping to ride out this depression , sadly others have given up !
Proper business planning would drastically lower the market entrants – let them learn in the school of hard knocks and hopefully a few will flourish.
have your say