Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
Click here for a larger version
OVER ONE HUNDRED companies were started every day during May, a new study by vision-net.ie has found.
A total of 2,783 companies were started during May this year, which breaks down to 107 start-ups every day. This is a slight drop on last May’s figures, when 3,151 companies were established.
The nascent recovery in the building sector is reflected in a near-doubling of construction start-ups when compared to May 2013. A total of 93 new companies were established in the building sector last month.
Professional services companies led the field in start-ups, with 289 established, while 150 wholesale and retail companies came out of the blocks.
Dublin has just under half of the country’s start-ups, with 48 per cent choosing to locate in there.
The capital’s share of the start-up pie has grown over the last ten years from 39.5 per cent in 2004.
Insolvencies
112 companies were declared insolvent in May, up slightly on the 89 placed into liquidation, examinership or receivership last year. Both years are significantly down on the figure of 126 insolvencies in 2012.
34 per cent on insolvencies were in Dublin, with nine per cent in Cork, eight in Galway and seven in Wexford.
Judgements
The amount awarded against consumers in judgments fell during April, with 226 findings against individuals adding up to a total of €14.6 million. The number of these judgements fell by 35 per cent and the value fell by 53 per cent.
Commenting on the drop in judgements, vision-net managing director Christine Cullen said:
“The reduction in both the number and value of judgments awarded against consumers is good news. As consumer debts fall, sectors heavily reliant on discretionary spending such as the retail or hospitality sectors may benefit with a bounce in sales.”
To embed this post, copy the code below on your site
People that start up a small business and make it something for a time where they employ people and contribute to the economy should have the security of having something to fall back on like unemployment benefits if the company fails. This would help to push more people to start jobs and others to come legit.
Over a 100 startups per day is a surprisingly high number in my view. Good to see Paddy hasn’t lost his appetite for making it happen.
Sad to think that of those who are successful SF plan to tax the life out of em, to line the pockets of those who contribute least of all.
There is a (welcome) scheme at the moment whereby if a long term unemployed starts a business they get to keep all or part of their JSA for a period of time to help ease them into business.
They also have a PAYE exception for 2 years.
Good idea & hopefully many startups will thrive.
James please actually read sf 2011 platform and you’ll see that’s not true. No I’m not a shinner I just care about facts.
Besides France and Germany are overflowing with taxes inc wealth tax and they’re booming.
What’s killing Irish smes isn’t CGT its rent and rates the very kind of regressive taxation only right wing, not left wing, parties support.
I consider myself center left on economics and I was to eliminate and simplify SME regs and replace rates with an old skool % of profits, you’ll find short of the full blown socialists smes would b far better off under a social democratic govt for many reasons than a ff fg one
Ryan
Firstly don’t worry about no thumbs up as the SF brigade here don’t read the positive stories.
CGT isn’t crippling Irish SME’s, but small business need require enough drawings to support the owners, if these owners are reasonably successful SF plan to tax them at 50% rate.
So much for rewarding the risk takers and the employers of tomorrow.
They’re economic policies are populist and will kill any recovery
After three years out of work & being a stay at home dad – not out of choice), I’m registering my company this week.
My brother is in the same boat for two years & we have a great idea & are going for it.
Hope to be able to employ a couple of people along the way too.
Best of luck with it.
On these figures that’s about 10 companies a week opening outside of Dublin. But how many are closing? Elsewhere in the journal today there is another article citing the hardships of austerity on sme’s and how badly they are struggling. Seems to me there is a lot of confused statistics coming out and going in uncoordinated directions. And whatever else I definitely do not have a buzz of a feel good factor. Sorry
The Stats just don’t suit ur SF propaganda George. They’re not confusing really.
Enda is getting Ireland back working
SF promised to borrow €13bn at an unknown rate to create jobs.
FG are delivering same at a fraction of the cost while at the same time, closing the deficit.
Bring on the red thumbs Shinners, don’t let facts get in the way of your impotent anger.
FG are stealing their monies from the national pension fund, which will cause greater problems down the line. And also who gave them the right to steal monies from my private pension fund? fcuk FG theiving Ba3tards
Hard luck john try again with that bulls#$ t some other time.
More companies would start up if they were better incentivised. Our government can incentivise tax reduction to big multinationals yet won’t dis-incentivise residential property speculation, which leaves our citizens struggling financially for life.
Where there is a will they find a way. Be imaginative and creative when it comes to homes for people.
have your say