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”.
“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,”