Hope On the Horizon for Start-ups in Ireland.
In the ever-evolving landscape of Irish entrepreneurship, the trajectory of start-ups over the past few years has been nothing short of intriguing. From 2017 to 2020, Ireland witnessed a period of remarkable consistency in the number of company start-ups. However, in 2021, there was a dramatic peak that caught the attention of both investors and aspiring entrepreneurs. But, as we delve into 2022 and 2023, we find ourselves in a phase where the number of start-ups has decreased, though there are promising signs of growth.
The Consistent Years (2017-2020)
From 2017 to 2020, Ireland's start-up scene was characterized by a steady flow of new businesses entering the market. This period was marked by a sense of stability and predictability. During these years, the entrepreneurial spirit thrived, and was upheld by a favourable and sustainable business environment.
Here's a breakdown of the figures during this time...
- 2017: 22,408 new start-ups
- 2018:22,518 new start-ups
- 2019:22,796 new start-ups
- 2020:21,928 new start-ups
The Pinnacle of 2021
Then came 2021 a total of 25,693 new companies were formed in that year, marking a significant increase from the previous years. This surge could be attributed to various factors such as innovative ideas, increased demand for digital services, and pent-up and forced entrepreneurial energy that emerged after the challenges of the pandemic.
The Current Landscape (2022-2023)
However, as we transitioned into 2022, the start-up scene took a different turn. 2022 experienced a plateau in company start-ups, with a total of 21,637 for the whole year. A significant dip from the previous year.
But there's hope on the horizon. In 2023, the trend seems to be increasing. So far in 2023, there have been 16,445 company start-ups in Ireland. We predict a further 5,800 will be formed in Q4 of 2023, making the overall total of company start-ups 23,201 for the whole year. This will mean there will be an overall 7% increase in company start-ups in Ireland from 2022 to 2023.
These figures suggest that, although the total of company start-ups in Ireland have seen a significant decrease since the pinnacle year of 2021, the number is beginning to grow overall, providing a prosperous and promising future for the Irish economy.
In the end the decrease in company start-ups in Ireland since 2021 is most likely a multifaceted issue influenced by global and local factors. The upcoming budget is likely to play a key role, with the right support, including government initiatives, access to funding, and a favourable regulatory environment, Ireland can continue to be a hub for innovation and entrepreneurship. The entrepreneurial spirit remains alive, ready to contribute to Ireland's economic growth and prosperity.
The number of companies that have collapsed this year. This figure is up 24% 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)
- 2 Companies
- 0 Company
The number of companies that have closed this week.
- 395 Companies
- 4 Businesses
- 446 Companies
HIGH COURT NOTICES
- 6 Companies
- 222 Companies
- 0 Company