Issue 294 (Week ending 06/07/2016)

Our statistics reveal that between the 1st January and 28th June 2016, 10,490 Irish companies had been set-up - an increase of 21% on the same period in 2015 (8,667). A further 116 companies were formed in the last two days of June bringing the number of company start-ups to 10,606.

With the exception of January, every other month in the first half 2016 saw an increase in start-ups when compared to the corresponding month in 2015 - the average number of monthly start-ups was 1,748 - up considerably on 2015's average of 1,445.

The professional services sector remains the most popular industry for company start-ups in 2016, accounting for one in five new companies.

However, financial services was the sector with the greatest increase in start-ups when compared with the same period last year, with 1,337 new financial services start-ups or 886 more than the first six months of 2015.

Wexford, Cork and Donegal were the counties with the highest increase in start-ups when compared with Q1 and Q2, 2016; indicative of a spreading regional recovery.

Insolvencies across Ireland fell by 12% when compared with the same period last year, with 486 insolvencies compared with 555 during Q1 and Q2, 2015. These insolvency figures comprise 318 liquidations (65% of the total); 159 receiverships (33%); and 9 examinerships (2%).

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