Home > Ireland > Strong November for business as 147 new start-ups form every day

Strong November for business as 147 new start-ups form every day

Written by Kieran Flynn, on 1st Dec 2015. Posted in Ireland

article headline

Three thousand nine hundred and seventy eight new company and business start-ups were formed in November - an average of 147 a day - according to new figures from leading business and credit risk analyst, Vision-net.ie.

Of this number, 2,561 were new businesses and 1,417 were new companies. In total, this represents a 21% increase compared to the same period in 2014.

Last month, professional services, social and personal services, and wholesale and retail were the three most popular sectors for new start-ups.

Professional services accounted for almost 30% of all new start-ups in the country. Numbers in the sector rose 17.5% year-on-year, from 361 to 424. Social and personal services start-ups increased by 55%, from 115 to 178, while wholesale and retail increased by 6%, from 132 to 140. 

Continuing the sector's strong recovery, construction experienced another positive month, with start-up numbers increasing by 30% year-on-year, from 86 to 112. Education start-ups increased 54%, from 13 to 20; and utilities start-ups increased 280%, from 5 to 19.

Dublin, Cork and Kildare were the three most popular locations for start-ups this year. Kildare saw a significant 39% year-on-year rise in start-ups, from 44 to 61.

The fourth and fifth most popular locations, Galway and Meath, experienced small declines in start-up numbers, from 54 to 50 (-7%) and from 53 to 40 (-24.5%), respectively.

Christine Cullen, Managing Director of Vision-net.ie, said November’s strong figures demonstrate that economic recovery has now become a “broad-based recovery”.

“November’s figures repeats the consistently strong pattern of start-up growth which we have seen throughout the year, particularly construction and professional services. What is most encouraging is the significant increase in start-ups in other key growth areas of the economy such as retail and social and personal services. 

Source: www.businessworld.ie

 

More articles from Ireland

image Description

Slack set to triple staff numbers in Ireland

Read more
image Description

AIB set to strike pay deal with staff

Read more
image Description

Irish consumer prices remained flat throughout 2016

Read more
image Description

Irish Distillers to invest over 10m in production capacity at Midleton Distillery

Read more
image Description

Irish housing starts accelerating

Read more