Thursday, January 11, 2007

The number of companies set up last year was up 11% at 19,221 compared with the same period last year, according to a survey from Bank of Ireland

Irish Times:

The bank's business start-up barometer said that larger cities remain the most popular sites for start-ups.

Last year, over 7,000 of the new firms were based in Dublin, with 1,524 in Cork and 1,93 in Galway. More than 600 companies registered in Limerick last year.

The busiest month for start-ups was June.

Dr Dan McLaughlin, B of I chief economist: "The strong level of business start-ups is testimony to two factors. The first reflects the buoyant nature of economic activity in Ireland - GDP growth last year exceeded 6 per cent, and 2007 looks set to deliver something similar, which is supportive of business confidence.

"The second point is that the Irish tax system is now much more conducive to risk-taking than it was, thus encouraging entrepreneurial activity".

Property dominates the start-up sector with the construction and civil engineering sectors accounting for the most new firms.

Last year was saw real estate management firms opening their doors in this sector. A further 1,131 real estate development and sales companies were set up last year.

New Irish company registrations rose 11% in 2006 but level of early-stage entrepreneurial start-ups fell

Irelandian economics


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