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.