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born survivors

Can you guess what Ireland's most recession-proof industry is?

The clue is in the picture…

WE REPORTED YESTERDAY that nearly 15% of all Ireland’s small businesses failed during the recession.

But what was the most robust industry?

An analysis by risk analysts shows that Agriculture and Fishing start ups that were founded in 2007 were most likely to survive the downturn, while start-ups in the hospitality, construction and IT sectors had the highest rates of failure.

The survival rate for agriculture and fishing start-ups was 74.7%, some distance ahead of the average of 48.4%.

The second most successful sector was utilities, with 65.7% of start-ups surviving the worst of the down turn.

Vision-net managing director Christine Cullen said: “Our data confirms the strength of the Irish food industry and the important role it is playing in our economic recovery.”

“The CSO’s data also shows that Ireland’s business start-up culture remains strong, despite the difficulty recessionary trading conditions of recent years. The CSO findings…are very positive and matches what our own data has consistently highlighted.”

Read: Recovering from the rains: Fishing industry battles on>

Read: Atlantic mackerel deal thrashed out but Iceland holds firm and doesn’t sign>

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