Issue 623 (Week ending 14/02/2024)

The 2023 Annual Review of Business in Ireland is out, with insights into the ever-changing business landscape, taking closer looks at business start-ups, closures, and more.

Among the results found, it was noted that despite there being a substantial upswing in company start-ups when comparing 2022 and 2023, there was as decrease in the number of Director Appointments.

There was 51,383 directors appointed in 2023, compared to 54,161 recorded in 2022. 59% of Directors appointed in 2023 were first time directors, and 36% of the New Directors are Female, versus 24% of Existing Directors being Female.

This contrast between a resurgence of Start-Ups and a decline in Director Appointments highlights the topography of Ireland's current entrepreneurial landscape. Needless to say, there is a resilience seen in the entrepreneurial spirit, hinting at a renewed optimism within the Irish business ecosystem.

Over the course of the year, the Company Start-Ups story found its peak in May, with the expected usual dip across the Summer months, and a low point in November where trepidation seems to have stayed the entrepreneurial spirit. There were 11,898 companies formed in H1, compared to 10,683 companies formed in H2.

The 2023 Annual Review of Business in Ireland includes insights like these, and more.

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