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Saturday 2 December 2023 Dublin: 2°C

# vision-net

All time
New companies topped 20,000 last year for the first time in almost two decades
There was an 8% increase in the number of new Irish firms registered with the CRO in 2016.
Every day last month, 135 new Irish businesses were set up
Insolvencies were also down.
Consumers ordered to pay €52 million back to banks so far this year
The average amount awarded to banks was €600,000.
These were the bumper industries for Irish startups last year
It was a big year for new businesses.
Almost 1,000 new companies were formed in Ireland last month
New figures for August out today contain some mixed news. Start-ups were up significantly – but there was also an increase in insolvencies last month.
Open for business: new company start-ups beat pre-recession levels
There were 49 companies founded every day last month.
Why are construction start-ups outpacing other sectors?
New company formation is outstripping all other sectors, with retail at the other end of the scale.
Moving on up: Construction start-ups rise by almost 40 per cent
Overall, company start-ups are up 14 per cent compared to the first six months of last year, according to business and credit analysts
There isn't enough office space in Dublin to fit all the new start-ups
It is also providing another boost to the construction sector.
Hospitality sector at risk of collapse while economy continues to improve
Figures from Vision-net also show an 18 per cent fall from last year in the number of businesses becoming insolvent.
Substantial decrease in failing businesses during third quarter
Start-ups were also on the increase with an average of 108 new companies registered every day during the quarter.
40 per cent decrease in number of businesses failing last month
New figures also showed that there was an average of 106 new businesses and companies established per day in August.
Consumers and firms ordered to pay over €44m to creditors last month
Vision-net figures show that banks accounted for over half the value of all court judgments awarded against consumers last month.
One in five company directors is a woman (and she's most likely to be called Mary)
Figures show that number of female directors has increased by 14 per cent since the start of the recession – but over half of all Irish PLCs have no women sitting on their boards.
Over 13,000 new companies set up in 2012
It was a bad year for businesses set up in 2008 though as one third of them failed.
Six companies collapsed each day this month
Figures show there was in increase in the number of start-ups this year but the net loss was still 480 businesses.
Five companies went bust each day of July, says Vision-net
Half of those stress-tested by the credit and risk analyst also showed signs of being on the brink of failure.
Over seven companies collapsed each day in February
Meanwhile, business and credit analysts at Vision-net say that three out of five hotels and restaurants are in danger of going out of business.
Five companies a day went out of business in 2011
The firms left unpaid debts of €1.2billion, which it’s feared could further hit economic recovery.
Utility firms recover €440,000 in unpaid bills
However, the number of legal actions against householders has dropped significantly since last year.
849 Irish companies dissolved in June
Statistics released this month show that liquidators have been appointed to 47 Irish companies this week alone.