The number of start-up companies in Ireland reached its highest level in July since before the recession in 2007, new figures from credit and business risk analysis company Vision-net.ie suggest.
In a sign the Irish economy is on the rebound, 1,518 start-ups set up shop in Ireland in July, which is the equivalent of 49 new companies being established every day. The 1,518 figure is an increase of 11pc since the same time last year.
Most start-ups (22pc) set up in the professional services sector, with wholesale and retail coming in as the second most popular sector for Irish start-ups at 10pc, followed by construction at 9pc.
Christine Cullen, managing director of Vision-net.ie, said last month’s figures were “further positive signs of economic renewal”.
“July’s company start-up figures are the highest seen in that month in seven years and are indicative of greater business confidence,” said Cullen.
“The strong increase in start-ups will also have a knock-on effect in the wider economy, such as in job creation or improving B2B trading.”
Start Ireland keyboard image via Shutterstock