Issue 289 (Week ending 01/06/2016)

1,922 new Irish companies were formed in May 2016 - an average of 62 per day - this represents a 34% increase on the figure recorded during the same period last year (1,432).

This is also the second time this year that a monthly company start-up figure has been above 1,900 - this has only happened once in the previous 9 years in Ireland (Dec 2015 - 2,173 new companies formed).

The professional services sector remains the most popular industry for start-ups - 30% (571) of new companies formed last month chose to operate there. The wholesale & retail and social & personal services sectors are the second and third most popular for start-ups accounting for 11% and 10% of new companies respectively.

855 (44.5%) of the new companies are based in Dublin with the next most popular region being Cork (273 start-ups). There is then a sizeable gap to the next three most popular locations (Galway, Limerick and Kildare) which account for another 10% of new companies between them.

86 Irish companies were declared insolvent in May 2016 - an average of an average of just under three insolvencies per day - this figure is in line with what we saw in May 2015 when 84 insolvencies were recorded.

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