Irish start-up figures remaining resilient

New figures suggest that more than 5,000 start-up businesses were launched across Ireland in Q3 2019, taking the overall number of start-ups in Ireland to more than 17,000 this year.

That’s according to data from business and credit risk analyst, CRIF Vision-net, which confirmed that 5,010 start-ups formed in the last quarter despite the uncertainty surrounding the UK’s impending departure from the European Union (EU).

Some 55 new start-up businesses have been formed each day so far in the first three quarters of 2019, with Dublin home to more than two-fifths (41.5%) of these start-ups, followed by Cork (8.7%), Galway (3.5%) and Limerick (3%).

The highest concentration of start-up businesses this year was found in the Dublin 2 region, with 1,652 of the 17,160 new firms registered here, equating to almost a tenth of all new business ventures.

That is followed by Dublin 4, which has recorded 518 start-ups so far this year, as well as Dublin 1 (502) and Dublin 3 (421) respectively.

In terms of new start-ups registered in Ireland per industry, business and management consultancy firms experienced the biggest growth, amounting to 8% of all new start-ups thus far in 2019.

Sara Costantini, regional director for the UK and Ireland, CRIF, said: “The continued growth of business start-ups in Ireland is an encouraging development, particularly against the current backdrop of global economic cautiousness.

“Ireland’s start-up growth is spurring increasing opportunity for entrepreneurship both within and outside the capital, and it is important that we protect this as trends suggest that businesses may approach some difficult times.”

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Date published 30 Oct 2019 | Last updated 30 Oct 2019