Issue 633 (Week ending 12/06/2024)

How well do you know the geography of Ireland's business? Can you name the counties with the most company start-ups in 2024 so far, or of 2023? What factors influence the decision the location of a new business? Read on for the facts, and a quote from Christine Cullen, Managing Director of CRIFVision-net.

In 2024 so far, we have recorded 8,792 company start-ups. 21.6% of these, and the top choice to start a new business, is Dublin, the capital. With long-standing infrastructure, a young, well-educated workforce, and a lively hub of international business, it is no surprise this is a top-choice for most industries.

Taking second place, with 9.7% of company start-ups in 2024 so far, is Cork. For many if not all of the same reasons as Dublin, second only in population size, and scale of infrastructure.

Third place is Galway, at 4.7%. It is not surprising yet again, that second and third place are also the two largest counties in Ireland by area, missing first only to the capital.

When comparing this to 2023, the top 3 counties remain the same, and as it was in 2022 also. So, 2024 is tracking to perform the same as the 2 years previous, noting a consistency to the motivations people feel when choosing where to start their businesses. However, it does not paint a full picture.

If the number of company start-ups increases in 2024 the same way it did in 2023, then it may be wise to anticipate the similar trend of more businesses surging in smaller community and rural areas of Ireland. Christine Cullen, Managing Director of CRIFVision-net said of the 2023 surge, "this trend may be influenced by prevailing housing crisis coupled with low unemployment rates and resource constraints."

It will be fascinating over the remainder of 2024 to witness the progression of these trends, and perhaps even prepare ourselves for a surprising turn of the consistent top-performing counties for new company start-ups.