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Over 4,000 new companies and businesses formed in October

Written by Robert McHugh, on 2nd Nov 2015. Posted in Ireland

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The latest figures from business and credit risk analyst, Vision-net.ie, show that 4,106 new companies and businesses were formed in October—an average of 146 every day. 

The data showed that professional services, wholesale and retail, and social and personal services were the three industry sectors that saw the highest level of new company start-ups. 

New wholesale and retail start-ups increased by 74% to 240 from 138 in the same period last year; social and personal services start-ups increased by 38% to 171 from 124.

Furthermore, IT and construction companies also received a significant boost in numbers compared to the same period last year, up 36% and 35% respectively.

Dublin, Cork and Limerick were the three most popular centres for new business. Cork start-up numbers grew by 45%, from 139 to 202, while Limerick's were boosted by 66%, from 35 to 58.

Managing Director of Vision-net.ie, Christine Cullen commented, "Ireland’s economic recovery is feeling ever more tangible, with clear numbers demonstrating burgeoning start-up environments across nearly every sector, and insolvencies dropping overall. 

"A drop in insolvencies in the real estate sector, and a rise in start-up numbers in the wholesale and retail sectors, indicate an increasing propensity to spend and invest in assets."

Source: www.businessworld.ie

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