Almost 11,000 new company start-ups so far in 2014
The Q1 figure represents a rise of 6% on the corresponding period last year, according to credit and business risk analyst Vision-net.
Encouragingly, the number of new companies registered in the construction industry rose 29% in the quarter, while the number of insolvencies in that sector fell by 25%.
The total number of company insolvencies fell by 23% compared to the first quarter of 2013.
With start-ups amounting to an average of 127 per day, Christine Cullen, managing director of Vision-net, says confidence is returning to the economy:
“The large number of new business start-ups, combined with the highest number of company incorporations in the first quarter since the crash, indicates that businesses are operating in a less hostile environment, where greater access to credit is improving.”
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