Number of insolvent companies drops by 18pc so far this year
There has been an 18pc fall in the number of insolvent firms so far this year, new research shows.
The number of company and business start-ups has grown 9.4pc compared with the same period in 2012, according to data from credit risk analyst Vision-net.
Five companies became insolvent in November with 58pc of those companies coming from Dublin. Galway and Cork accounted for 6.9pc and 4.6pc of insolvencies respectively.
November saw 2,550 business start-ups or an average of 102 each day.
"Data from November brings further good news on Ireland's economic recovery," said Vision-net's Christine Cullen. "The fall in the number of insolvencies and increase in number of company and business start-ups are both strong signs of economic growth."
The hotel/restaurant industry remains vulnerable, she added.