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AN AVERAGE OF 135 new businesses were registered every day last month, while just 2.5 went insolvent according to new figures.
The stats were complied by analysts at Vision-net.ie who say that “a natural balance and normality is starting to return to the Irish economy.”
In total, May 2015 saw 3,653 business start-ups recorded, a 24% rise on the same month in 2014. Sole traders accounted for 59% of all new registered business names.
In terms of company start-ups, close to a third of the total are described as ‘professional services’ with retail and wholesale accounting for 10%
Unsurprisingly, Dublin is listed as the main hub of most of the new company registrations, 50% of the total according to Vision-net.ie.
Limerick and Cork both saw a jump in the number of businesses registered compared to last year. Limerick especially which saw a 71% increase, Cork comes in at an increase of 32%.
Going under
On the other side of the coin, insolvencies down are significantly compared to last year. Figures show that 79 insolvencies were registered last month, a 38% drop on the same month last year.
Wholesale and retail businesses accounted for 16.5% of all insolvencies, followed by hospitality (15%) and manufacturing (14%).
Mirroring their rise in new start-ups, the construction industry saw a 48% decrease in insolvencies when compared to last year.
“Our data is highlighting growing numbers of new businesses opening up and established businesses becoming less vulnerable to collapse,” according to Vision-net.ie’s Christine Cullen.
“This increase in start-ups at one end and the decrease in business failures at the other, indicates that a natural balance and normality is starting to return to the Irish economy.”
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Long may it continue, nothing wrong with good news. Well unless you’re a miserable ba$tard.
What interest rates do these start ups typically pay on their loans …
Depends on the type of loan and the quality of the of the collateral.
or on their access to funds at prefrential rates from a bank rescued by taxpayers
Oh no. Job creation. This will not go down well here…
Expect an influx of red thumbs around 11am.
Siteserv.
DOB
HSBC 350
etc
enjoy
Awful news.
In no way should this type of story be reported on The a Journal. It does not support the views of most of the posters on these forums.
Unless the story is about DOB, IW, DOB, job losses and/or evictions, DOB or IW, it should not be allowed to be published.
Oh, by the way, freedom of speech is very important (as long as it supports the thinking of the posters on these forums).
Wouldn’t go glamorising it a forum, boaeds.ie is a forum, more like where the drum bashers get up on their soap boxes & heckle,
great news for the economy nonetheless
And judging by his latest nepoleonic tantrum, Blueshirt Guru Denis would be reporting the unemployment figure at a mere 1.25% give or take a few vallium!!
Forget your tin foil again Credit?
This is great news!
Completely overshadowed by the Siteserv, DOB, censorship issue tho.
Re Dinny in the Times
Poor auld Dinny.
My heart is bleeding for him.
Dinny, can you cut the horse with the whole ‘Personal Banking Affairs’ routine? its getting tiresome. IHMO ‘personal banking’ is the accounts you hold monies in AFTER you pay tax. As you pay no personal tax here, that doesn’t effect you.
Any companies financial arrangement should be FULLY transparent. Especially when they could have been supported by the taxes I have paid.
Well done to the government, credit where credit is due :)
Congrats to all the budding Blueshirts on their start-ups and write-downs etc etc!!
Yes, I’ll give credit to the entrepreneurial spirit that the Irish people have…. in spite of the challanges they have face of the past 8 years.
As for this government, I must give them credit for their absolute SILENCE on the whole Siteserv & Catherine Murphy issue. Their backing of Dinny over the people of this country is spectacular.
Yep …and 95% of them haven’t got a clue what they’ve let themself in for….Good luck with that…. :-)
The vast majority of these are self-employed individuals who got hammered during the ‘bust’, & had to turn to welfare just to get by. Now they are being forced back into self-employment with full welfare payment for the 1st year, then half for the 2nd year, – then probably back to poverty, since most of their work was mopped up by cheap imported labour.
Self employed people don’t get dole.
Such a shower of miserable people on here.. this is great news!
have your say