Almost 1,600 new Irish companies were formed last month, however, this figure was down approximately 10% on July 2015's total.
While this year has been an excellent one for company start-ups - figures for the first seven months of 2016 show a 13% overall rise in start-ups - July bucked the trend with fewer companies being formed than in 2015.
1,597 companies were formed last month - an average of over 51 per day - this is down 10% from the 1,774 start-ups recorded last year.
Of the new companies formed this July, 19% operate within the professional services sector. The next most popular sectors for start-ups are finance, wholesale & retail and social & personal services which accounted for 14.5%, 11.5% and 9% of newly formed companies.
Dublin was the most popular location for start-ups with 47% setting up there. Cork accounted for a further 10% of new companies with Galway in third place with 5%.
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The number of companies that have collapsed this year. This figure is up 50% 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.
- 22 Companies
E8 (Notice Of Appointment Of Receiver)
- 3 Companies
- 0 Company
The number of companies that have closed this week.
- 306 Companies
- 376 Businesses
- 670 Companies
HIGH COURT NOTICES
- 5 Companies
- 338 Companies
- 0 Company