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OVER ONE HUNDRED companies were started every day during May, a new study by vision-net.ie has found.
A total of 2,783 companies were started during May this year, which breaks down to 107 start-ups every day. This is a slight drop on last May’s figures, when 3,151 companies were established.
The nascent recovery in the building sector is reflected in a near-doubling of construction start-ups when compared to May 2013. A total of 93 new companies were established in the building sector last month.
Professional services companies led the field in start-ups, with 289 established, while 150 wholesale and retail companies came out of the blocks.
Dublin has just under half of the country’s start-ups, with 48 per cent choosing to locate in there.
The capital’s share of the start-up pie has grown over the last ten years from 39.5 per cent in 2004.
112 companies were declared insolvent in May, up slightly on the 89 placed into liquidation, examinership or receivership last year. Both years are significantly down on the figure of 126 insolvencies in 2012.
34 per cent on insolvencies were in Dublin, with nine per cent in Cork, eight in Galway and seven in Wexford.
The amount awarded against consumers in judgments fell during April, with 226 findings against individuals adding up to a total of €14.6 million. The number of these judgements fell by 35 per cent and the value fell by 53 per cent.
Commenting on the drop in judgements, vision-net managing director Christine Cullen said:
“The reduction in both the number and value of judgments awarded against consumers is good news. As consumer debts fall, sectors heavily reliant on discretionary spending such as the retail or hospitality sectors may benefit with a bounce in sales.”