Last month was best July for startups since the recession
Published 06/08/2015 | 02:30
The number of startup companies in Ireland reached its highest level in July since before the recession in 2007, new figures have shown.
According to a survey carried out by business and credit risk company Vision-net, 1,764 new limited companies were registered during the month, up from just over 1,500 during the same month last year. An additional 2,517 new businesses were registered, up by 24pc compared to July 2014.
The managing director of Vision-net.ie, Christine Cullen, inset, said that Ireland is now on course to hit 18,000 startups and 29,000 business registrations by the end of the year.
There were just under 9,000 company startups recorded and 14,300 registered business names in the first six months of 2015. Speaking to the Irish Independent, Ms Cullen said that based on July's figures that performance should be easily matched during the second half of the year.
"Based on the first six months of the year I would say that those figures are conservative. I would expect activity to pick up even more in September, October and November," she said.
There was also a sharp drop in the number of insolvencies, which fell 45pc year-on-year from 162 to 89. Insolvencies in construction fell from 18 to 10.