Irish start-ups remained strong between July and September this year; insolvencies for the quarter were up on 2015 but the figure for the year was more encouraging.
Research that we published last week, which covered the majority of Q3-2016 (1st July - 27th September) - revealed that 10,998 Irish companies and businesses were formed - further analysis, which covers the quarter as a whole, shows that this figure rose to 11,493 (up 2% on the same period last year).
Finance was one of Ireland's fastest growing industries for new company start-ups during the quarter with 758 being formed - up 17% on Q3-2015 (647). Professional services remained the most popular industry for new companies and accounted for 18% of these, with finance and wholesale & retail in second and third place respectively (14.6% and 11%).
Dublin remained the most popular location with 47% of new companies being based there, followed by a further 11% in Cork and just over 4% in Galway.
232 insolvencies were recorded for the period 1st July to 27th September this year - up 14% on the same period in 2015 (204). The professional services industry was the most insolvent in Q3 2016, with 44 insolvencies, although this figure was a 4 percent decrease year-on-year. Construction and real estate accounted for a further 18% of insolvencies each.
While the rise in insolvencies was slightly disappointing, figure for the first 9 months of the year revealed that they were down 5% on the same period in 2015.
To view further details about these or any other companies, businesses or directors in Ireland or the UK, simply login to your account today.
The number of companies that have collapsed this year. This figure is down 2% compared to last year
Click here to view the list
PREDICTIVE CREDIT REPORTS
Our Credit Reports are predicting over 80% of insolvencies at up to 6 months in advance.
- 26 Companies
E8 (Notice Of Appointment Of Receiver)
- 3 Companies
- 1 Company
The number of companies that have closed this week.
- 370 Companies
- 557 Businesses
- 702 Companies
HIGH COURT NOTICES
- 1 Company
- 252 Companies
- 179 Companies