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Irish startups peak

Irish startups peak

The number of new Irish startups reached its highest level in almost two decades last year.

In 2016, over 20,000 new companies were registered – an 8% increase on 2015 and the biggest year of activity since 1998.

With the establishment of over 4,000 firms, professional services emerged as the most common industrial sector. The finance sector was second, with 44% more new entrants than 2015.

The number of new firms getting down to business in Dublin was up a massive 45.5%, way ahead of second-placed Cork, which saw a 12% increase. The difference elsewhere around the country was much more marginal.

During the same time, there was a 10% decrease in insolvencies. There were 984 startups unable to pay their debts. The sectors of wholesale and retail, as well as manufacturing, were the most badly affected.

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