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.
AN AVERAGE OF 143 new start-ups were established every day in February, according to new figures out today.
That’s an increase of 7 per cent on the same month last year – and it’s the first time since 2007 that over 1,500 new companies have been formed in the first two months of the year.
The professional services sector was the most popular industry for start-ups, accounting for just over 23% of new firms.
Almost half of all the new start-ups were in Dublin – followed by Cork (10%). Limerick, Galway, Kildare and Meath accounted for a further 16% between them.
Meanwhile, insolvencies dropped by a quarter in February, compared to the same period last year, according to the figures from credit risk analysts vision-net.ie.
96 Irish companies were made insolvent last month, compared to 120 in the same month last year.
Managing Director of Vision-net Christine Cullen said the increase in start-ups was encouraging, and showed there was “greater consistency in the number of companies starting up”.
“While the professional services industry remains the most popular sector for new start-ups, last month was also a positive one for the agriculture and construction sectors – key drivers of economic recovery.”
Meanwhile, the drop in insolvencies is also an”encouraging sign,” she said.
It suggests that the overall success rate of companies is improving “particularly in the manufacturing, construction and real estate sectors”.
To embed this post, copy the code below on your site
Registering a company is no indicator of success.
Running a profitable, sustainable one is; one that creates and keeps jobs
They’re start ups. The clue is in the title. What’s your point exactly?
His point is that this is being presented as an indicator of economic recovery, rather than mere exuberance. Not a bad thing mind, but even a dead cat bounces. Best of luck to all involved.
Stop with the further evidence of a recovering economy.
Cue the SF spinnerbots:
I’m not feeling
No one I speak to is feeling it
Yaaaawn. Too early for me, back to bed I go, wake me up in the afternoon!
Jobsbridge
Exactly PIR
But the recovery is an illusion created by government spin.
Yawn
Can’t face the truth PIR? The real recovery doesn’t fit with the Spin Feign narrative of terrible governance, but the the facts seldom bother Spin Feign in their efforts to rewrite history… As a real Republican I find your politics despicable.
Sinn Fein /IRA sympathisers won’t be happy with a good news story about business. They’re too busy shouting WE WON’T PAY hand in hand with Paul Gollum Murphy to notice (or acknowledge) things are improving.
They’ll be much happier to hail Gersus Christ’s abolish water and household charges and replace them with a wealth tax idea. They’re mostly unemployed anyway, so it’d suit them down to the ground.
More bad news… Oh wait it’s good :)
Staying in business is the challenge, especially when there is ZERO help, red tape, taxes galore, anyone can start. But best of luck to all, you will need it.
More jobs for the yellow packs
Start ups, sorry I thought you meant businesses creating work, as the DSP are trying to have as many people as possible set up their own businesses but many fail, mores the pity.
Where are they as I do not see any near me…
have your say