July saw the highest number of start-ups since the end of 2007

6 Aug 201590 Shares

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July 2015 saw a 15pc rise in company start-ups compared with July 2014

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July 2015 saw the highest number of start-ups since the end of 2007, with a total of 1,764 new companies formed, according to data from Vision-net.ie/Company Formations International.

According to Vision-net.ie, there were 1,674 companies formed in July 2015, with an average of 77 new entities established each working day.

According to The Irish Times, this made it the second busiest July of the past 25 years.

July 2015 saw a 15pc rise in company start-ups compared with July 2014.

The professional services sector provided the largest proportion of new firms at 23pc.

The social and personal services sector and the wholesale and retail sector each accounted for 10pc of new start-ups formed in July 2015.

Start-up fever takes hold in Ireland

Last year the Irish Government revealed a new plan aimed at generating 93,000 extra jobs from start-up companies over the next five years.

Jobs Minister Richard Bruton TD said that two-thirds of all new jobs across the Irish economy are created by start-ups in their first five years of existence.

In recent months, the Government introduced the SURE scheme, which refunds 41pc of income tax paid by the person starting a business in the six years prior to the business being started.

Starting up image via Shutterstock

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com