Wednesday 26 October 2016

Irish company formations jump past 19,200

Published 28/12/2015 | 02:30

Christine Cullen, Managing Director, Photo: Maxwells
Christine Cullen, Managing Director, Photo: Maxwells

The number of companies formed in Ireland in 2015 was over 19,200 - the first time in a decade that the annual figure has been so high.

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The number formed in 2006 was 19,305. Business and credit risk information group Vision-net reckons the 2006 record could still be beaten this year. While the figures reflect growing confidence in the economy, they still have to be viewed cautiously. Many companies are established as holding companies for foreign entities or for intellectual property; or as vehicles for the aviation leasing business, for instance.

"Wider consumer and economic confidence is also driving the trend toward new businesses," said Vision-net managing director Christine Cullen.

"The upward growth of new companies is an extremely positive way to end 2015."

Irish Independent

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