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Increase in Irish start-up activity

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The number of new Irish start-up companies has risen 6pc so far this year, according to business information firm Vision Net.

Approximately 8,800 new companies have been registered so far in 2011 in Ireland.

The number of partnerships and sole trader business names registered so far this year is down 9pc on last year.

Companies in the education, health and medical, agriculture and manufacturing sectors have seen the most start-up activity, while activity in construction, hospitality and retail sectors are is down.

Despite this increase in start-up activity, the number of start-ups is lower than in previous years as 2005 saw 17,300 start-ups in total, while 18,200 new companies were registered in 2000.

However Vision Net MD Christine Cullen noted that while the number of start-up companies is lower, the number of operating companies stands at 195,000, up from 175,000 in 2001.

Companies are also now running for longer, she said.

“The average age of a business when it runs into difficulty is eight years. Five years ago it was five years. Effectively, companies are staying in business longer than they used to,” she added.

by Karina Corbett