An increase in new company formations is leading to a shortage of office space and playing a part in boosting construction and real estate sector start-ups.
Figures from a recent report published by Savills indicated that Ireland is experiencing an increased demand for commercial office space. One factor in this increase is the rise in company start-ups we've experienced so far this year.
According to our figures a surge of 4,438 new companies were started in Q1 this year, a figure up 21% on the average number of start-ups seen in Q1 over the previous 5 years (3,657).
These new companies are driving an increase in demand for commercial space which is influencing a measured revival of both the construction and real estate sectors.
There were 332 start-ups in the construction sector in Q1, a 16% increase on the average number of construction industry start-ups in Q1 over the 5 years since the recession began. A further 209 of the quarter's start-ups operate in the real estate sector - this is up 70% on the average number of real estate start-ups in Q1 over the previous 5 years (123).
The number of companies that have collapsed this year. This figure is down 34% 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.
- 28 Companies
E8 (Notice Of Appointment Of Receiver)
- 27 Companies
- 0 Company
The number of companies that have closed this week.
- 363 Companies
- 634 Businesses
- 566 Companies
HIGH COURT NOTICES
- 3 Companies
- 211 Companies
- 0 Company