The Most & Least Risky Industries So Far In 2021.
Q1-Q3 2021 saw a 24% reduction in the number of insolvencies compared with the same period last year, a sure sign of the resilience of the Irish economy despite the ongoing harsh reality Covid has brought over the last 20 months.
The full economic impact and outcomes of COVID-19 still remain open and uncertain, we're taking a closer look at the 'risk levels' of top sectors of Ireland's economy, to see which industries are showing less risk and which are still displaying symptoms of higher risk. We have analysed credit scores of all industries from Agriculture to Hospitality to find out the percentage of companies in the High Risk category to give an overview of what are the most and least risky to do business with so far in 2021.
Top 5 Riskiest Industries(Percentage of Companies in High Risk)
- Transport, Storage & Communication
- Wholesale & Retail
With it's ongoing restrictions it may come as no surprise to see the hospitality industry at the top of the most risky industries in 2021 in the high risk category. Other industries in the Top 5 which saw harsh restrictions include Construction as well as the retail industry. Computers and Transport make up the remainder of the top 5.
Top 5 Least Risky Industries(Percentage of Companies in High Risk)
- Public Admin
- Community/Personal Services
On the other hand, the industries which were arguably less affected with Covid restrictions make up the top 5 least risky industries. Agriculture is the least risky with the least amount of companies in the high risk category. Fishing also makes an appearance in fifth. Essential services: Health and Public Admin take second and third least risky along with Community/Personal services which were allowed to open sooner than other industries.
Using this data as a guide, it's still vital that companies and individuals continue to remain vigilant and carry out ongoing tests on customers, potential clients and suppliers to help protect their business interests.
The Credit Reports on CRIFVision-net.ie, offer you an intuitive and user-friendly way of identifying potential issues, well ahead of time. These reports are highly analytical and are currently predicting over the majority of corporate insolvencies approximately 6 months in advance on average. Our credit reports are able to do this by utilising the very latest technology along with the key critical risk factors facing Irish businesses today, to continually monitor and evaluate every score every day (over 300 factors are analysed every day on every company).
To access Credit Checks on any company, business or individual you deal with simply login to your account or contact our team on
Phone: 01 903 2660
The number of companies that have collapsed this year. This figure is down 23% 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.
- 29 Companies
E8 (Notice Of Appointment Of Receiver)
- 2 Companies
- 0 Company
The number of companies that have closed this week.
- 460 Companies
- 177 Businesses
- 529 Companies
HIGH COURT NOTICES
- 0 Company
- 162 Companies
- 88 Companies