A new report released by Vision-net today shows that Limerick saw significant growth in the number of new company start-ups established in the city and county, rising by +23.2% in the first half of 2018 compared to the same period last year.
 
This growth increase translated into 440 new start-ups in Limerick in the first half of 2018. 5,214 were founded in Dublin (growth of +3.2%), followed by Cork (1,168 start-ups, +3.5%) and Galway (466, +1.3%). 
 
In terms of new company start-ups by industry, professional services was the most prolific, growing by +8.6% year-on-year (2,228 to 2,419). The construction industry grew by +13.7%, from 1,118 new company start-ups in the first half of 2017 to 1,271 in the same period this year. Real estate also demonstrated strong growth (7.3%), growing from 491 new companies to 527.

The education sector had one of the most significant increases, growing by +28.9% for the first half of 2018, from 142 to 183 new companies.
 
Commenting on the data, Managing Director of CRIF Vision-net, Christine Cullen said, "The large increase in the number of start-ups in Limerick indicates that the cities and counties outside of Dublin are increasingly benefiting from the economic recovery. This is a welcome development and an indicator that Ireland’s other regions can provide a counterweight to Dublin. The growth of start-ups outside of the capital needs to be encouraged. Targeted investments, such as the M20 Cork-Limerick motorway, should enable sustained regional development for the years ahead."

She added, "Ireland’s continued economic growth is allowing more companies to thrive. Consumer spending is rising consistently, business opportunities are plentiful, and banks and other financial services companies are lending more to companies and start-ups."

Source: www.businessworld.ie