Company start-ups increase by 21% while corporate insolvencies fall by 12% in the first six months of this year.
Our statistics reveal that between the 1st January and 28th June 2016, 10,490 Irish companies had been set-up - an increase of 21% on the same period in 2015 (8,667). A further 116 companies were formed in the last two days of June bringing the number of company start-ups to 10,606.
With the exception of January, every other month in the first half 2016 saw an increase in start-ups when compared to the corresponding month in 2015 - the average number of monthly start-ups was 1,748 - up considerably on 2015's average of 1,445.
The professional services sector remains the most popular industry for company start-ups in 2016, accounting for one in five new companies.
However, financial services was the sector with the greatest increase in start-ups when compared with the same period last year, with 1,337 new financial services start-ups or 886 more than the first six months of 2015.
Wexford, Cork and Donegal were the counties with the highest increase in start-ups when compared with Q1 and Q2, 2016; indicative of a spreading regional recovery.
Insolvencies across Ireland fell by 12% when compared with the same period last year, with 486 insolvencies compared with 555 during Q1 and Q2, 2015. These insolvency figures comprise 318 liquidations (65% of the total); 159 receiverships (33%); and 9 examinerships (2%).
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The number of companies that have collapsed this year. This figure is up 4% 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.
- 24 Companies
E8 (Notice Of Appointment Of Receiver)
- 9 Companies
- 0 Company
The number of companies that have closed this week.
- 484 Companies
- 462 Businesses
- 455 Companies
HIGH COURT NOTICES
- 6 Companies
- 353 Companies
- 0 Company