Issue 622 (Week ending 07/02/2024)

Have you noticed the emergence of more start-ups in your industry?

CRIFVision-net has recorded valuable data and insights from 2023, that records a total of 22,582 new company start-ups in 2023, a 4% year-on-year increase.

Where are these start-ups establishing themselves?

Well, Offaly experienced the largest percentage increase, whereas Leitrim saw the highest percentage decrease.

Dublin had the highest number of start-ups in Ireland in 2023, with 9,883 businesses establishing themselves in the capital. In contrast, 2022 witnessed only 9,433, meaning the capital saw a 4.6% increase still.

This data is significant, to inform where the business landscape is developing, stalling, or even declining, across the island of Ireland.

What may be even more noteworthy, is that in 2022, 23 out of 26 counties recorded a decrease in new company start-ups. In 2023, however, of the 26 counties in the Republic of Ireland, a total of 19 recorded an increase in new company start-ups.

Moreover, CRIFVision-net MD Christine Cullen has noted "a growing trend in the establishment of start-ups outside the major urban centres could be influcned by the ongoing housing crisis, coupled with low unemployment rates and resource constraints."

This regional overview of Ireland's start-up landscape is important to inform a proactive approach to the challenges faced by new companies, and where efforts can be focused to help nurture economic growth and resilience across the island.

CRIFVision-net is one of Ireland's leading providers of credit risk, KYC, and compliance data on businesses and individuals.

To learn more on how we can help your business, call us today on Tel: (01) 903 2660, or email us at solutions.vision-net@crif.com.