Final figures for Quarter 3 of this year revealed a 24% drop in Irish company insolvencies and a 15% increase in company start-ups.
382 Irish companies were declared insolvent in the third quarter of 2013 - an average of approximately four per day - this represents a drop of 24% on the figure for the same period in 2012 (505).
Dublin and Cork accounted for just over 50% of these insolvencies between them - 37% and 15% respectively.
In terms of industry, the construction sector was hardest hit and accounted for one in five insolvent companies. Real estate, professional services and manufacturing were next hardest hit making up a further 36% of insolvencies.
3,795 Irish company start-ups were recorded in Quarter 3 this year - an average of 41 per day. This is an increase of 15% on Q3 - 2012 where 3,310 new companies were incorporated.
The most popular industry for start-ups this quarter was the professional services sector which accounted for a quarter of all new companies.
A further 35% of start-ups chose to operate in one of the following industries - wholesale & retail, social & personal services, IT or hospitality.
The number of companies that have collapsed this year. This figure is up 17% 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.
- 52 Companies
E8 (Notice Of Appointment Of Receiver)
- 2 Companies
- 2 Companies
The number of companies that have closed this week.
- 343 Companies
- 489 Businesses
- 975 Companies
HIGH COURT NOTICES
- 1 Company
- 312 Companies
- 0 Company