4 June 2015
By David O’Sullivan
Cork has seen a 32% year-on-year rise in start-ups, Insolvencies dropped by 85% in May, compared to the same period last year.
This sounds like good news, and it comes compliments of Vision-Net.ie, a Dublin based website which aggregates data from the Companies Registration Office and other sources.
Vision-Net.ie says “Professional services, construction and social and personal services most popular sectors for new start-ups”
Other figures are:
- Cork construction sector saw 233% rise in new start-ups.
- Cork company start-ups rose by 32% in May compared to the same period last year, according to new figures from I
- 145 company start-ups were formed in May. Professional services, construction and social and personal services were the three most popular sectors for all new start-ups.
- Cork construction start-ups rose by 233% compared to the same period last year, from 6 to 20.
- Cork remains the second most popular county in Ireland for new business.
There was a large drop of 85% in company insolvencies in May, compared to the same period last year. Only 2 Cork companies were declared insolvent, compared to 13 in May 2014.
Commenting on this month’s figures, Christine Cullen, Managing Director of Vision-net.ie, said the rise in new start-up business and drop in insolvencies show the economy is “on a consistent road to recovery”.
Follow TheCork.ie (The Online Newspaper for Cork, Ireland) on social media
“Our data is highlighting growing numbers of new businesses opening up and established businesses becoming less vulnerable to collapse. 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.
“Furthermore, the increasing popularity of locations outside of Dublin, like Cork, for new start-ups indicate that business environments are now becoming less hostile outside the capital city. It bodes well for a resurgence within our regional business centres,”