Issue 662 (Week ending 28/01/2025)

In 2024 the majority of industries experienced an increase in start-up activity across Ireland. Most regions showed their entrepreneurial potential, with Dublin, unsurprisingly, leading the way, and contributing nearly half of all new businesses with 10,680 start-ups.

Within the city, certain areas outperformed others, such as Dublin 3 (+40%) and Dublin 22 (+27%), reflecting the vibrancy of its business landscape. Cork also made a significant impact, with over 2,200 new businesses established, proving its continued role as a key player in Ireland's economic story.

Ireland's start-up activity also mirrored broader economic trends, with sectors such as motor (+20%), real estate (+18%), transport and communication (+17%), and IT (+14%), saw significant growth.

These industries are integral to Ireland's economy, and their growth reflects strong consumer demand and the increasing importance of technology and logistics. At the same time, sectors such as agriculture (-18%) and hospitality (-2%) faced challenges, a reminder of the pressures that persist in specific parts of the economy.

While these figures are encouraging, they must be viewed alongside the rise in business insolvencies, which increased by 25% in 2024 compared to the previous year. For many small businesses, higher costs and operational pressures have proven difficult to overcome.

December alone saw 114 insolvencies, the highest for any month last year. It's a stark reminder that while the start-up ecosystem is thriving, challenges persist, and support for small businesses remains critical.

Looking for the latest real-time details on these companies? We've got you covered! Simply call us on (01) 906 2330 or email us at solutions.vision-net@crif.com.