Over 1,500 Irish company start-ups were formed last month - the highest for new companies in July since 2007.
Company start-ups rose 11% (1,518) in July 2014 when compared to the same month last year (1,371) - this is an average of 49 new companies being formed daily last month.
Dublin was home to 51% of the new company start-ups, followed by Cork (8%) and Limerick (4%).
The professional services sector was the most popular industry for start-ups and accounted for 22% of new companies. It was followed by wholesale & retail (10%) and construction (9%).
This was the first time construction was in the top 3 most popular industries for start-ups since March 2010 and the sector also recorded a 47% drop in insolvencies compared to July 2013.
There were positive signs for other industries that struggled during the recession with drops in insolvencies of 86% and 29% for the motor and hospitality sectors respectively.
In total, 166 company insolvencies were recorded last month with 46% of them being based in Dublin, a further 13% were in Cork and 6% in Galway.
The number of companies that have collapsed this year. This figure is down 13% compared to last year
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PREDICTIVE CREDIT REPORTS
Our Credit Reports are predicting over 80% of insolvencies at up to 6 months in advance.
- 19 Companies
E8 (Notice Of Appointment Of Receiver)
- 14 Companies
- 0 Companies
The number of companies that have closed this week.
- 94 Companies
- 457 Businesses
- 706 Companies
HIGH COURT NOTICES
- 1 Companies
- 184 Companies
- 0 Companies