Wednesday 26 April 2017

Number of new businesses up by 10pc in Q1

Agriculture saw the largest percentage increase in start-ups, with a 45pc year-on-year increase. Stock photo
Agriculture saw the largest percentage increase in start-ups, with a 45pc year-on-year increase. Stock photo
Dearbhail McDonald

Dearbhail McDonald

More than 12,500 new companies were formed in the first three months of the year, a 10.3pc increase on the same period last year.

However, new figures from business and credit risk analysts Vision Net also indicate an uneasy path to growth, with a 22pc increase in the number of insolvencies between January and March, compared to the same period last year.

Dublin accounts for 43pc of new companies registered, raising further concerns over the country's continued over- reliance on the capital to generate economic growth.

Agriculture saw the largest percentage increase in start-ups, with a 45pc year-on-year increase.

Some 547 new start-ups were registered in the construction sector in Q1, compared with 501 during the same period last year.

Irish Independent

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