The opening three months of 2014 revealed further positive economic indicators that built on the improvements experienced last year.
During the period 1st January to 25th March 2014, 10,741 company and business start-ups were recorded in Ireland - an average of 127 per day - this is up approximately 6% on the same period in 2013 (10,164).
3,989 of the start-ups in Q1 this year were companies - up 8% on the same period in 2013 (3,701) - this is the third highest figure recorded for start-ups, during that period, in the last 10 years.
The most popular industry for company start-ups was the professional services sector which accounted for 25% of new companies. The construction sector was the fifth most popular industry and saw 304 new entrants - this is up almost 29% on the same period last year.
While start-ups continued to rise, Irish company insolvencies continued to fall. 302 insolvencies were recorded between 1st Jan and 25th Mar 2014 - down 23% on the same period in 2013 (395).
Almost 44% of insolvent companies had an address registered in Dublin with Cork and Wexford accounting for a further 8.6% and 6.6% of insolvencies respectively.
The construction sector was hardest hit, accounting for 55 (18%) of insolvencies. That figure represents a 25% drop in insolvencies affecting that industry compared to the same period in 2013.
The next most affected industries were professional services and wholesale & retail which accounted for 14.9% and 14.6% of insolvencies respectively.
The number of companies that have collapsed this year. This figure is up 23% 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.
- 34 Companies
E8 (Notice Of Appointment Of Receiver)
- 19 Companies
- 0 Company
The number of companies that have closed this week.
- 491 Companies
- 571 Businesses
- 275 Companies
HIGH COURT NOTICES
- 1 Company
- 74 Companies
- 0 Company