122 new companies, operating in the I.T. sector were formed this April making it the fourth most popular industry for start-ups during the month behind professional services, social & personal services and wholesale & retail.

This represents an increase of 33% on April 2012 when 92 I.T. companies were formed and an increase of 47% on April 2013 (89 I.T. start-ups).

This April was a good month for company start-ups with 1,502 being incorporated - up almost 25% on April 2013. It's the second time this year that monthly start-ups have exceeded 1,500. The last time we saw figures reach this level, previous to 2014, was April 2008 (1,541).

April 2014 also saw 145 companies be declared insolvent - down 8% on the figure for the same month in 2013 (157). Just over 53% of insolvent companies this April have a registered address in Dublin with Meath and Kildare both accounting for a further 11% of insolvencies (5.5% each).

The wholesale and retail sector was worst affected and accounted for just over a fifth of insolvencies recorded. 17 companies in the construction sector were declared insolvent - a drop of 41% on the previous April.