Over 1,900 company start-ups formed last month.
1,922 new Irish companies were formed in May 2016 - an average of 62 per day - this represents a 34% increase on the figure recorded during the same period last year (1,432).
This is also the second time this year that a monthly company start-up figure has been above 1,900 - this has only happened once in the previous 9 years in Ireland (Dec 2015 - 2,173 new companies formed).
The professional services sector remains the most popular industry for start-ups - 30% (571) of new companies formed last month chose to operate there. The wholesale & retail and social & personal services sectors are the second and third most popular for start-ups accounting for 11% and 10% of new companies respectively.
855 (44.5%) of the new companies are based in Dublin with the next most popular region being Cork (273 start-ups). There is then a sizeable gap to the next three most popular locations (Galway, Limerick and Kildare) which account for another 10% of new companies between them.
86 Irish companies were declared insolvent in May 2016 - an average of an average of just under three insolvencies per day - this figure is in line with what we saw in May 2015 when 84 insolvencies were recorded.
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The number of companies that have collapsed this year. This figure is down 48% 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.
- 38 Companies
E8 (Notice Of Appointment Of Receiver)
- 7 Companies
- 1 Company
The number of companies that have closed this week.
- 436 Companies
- 658 Businesses
- 658 Companies
HIGH COURT NOTICES
- 0 Company
- 352 Companies
- 156 Companies