Companies
Increase in newly-registered businesses despite 56 per cent rise in insolvencies
The increase in newly-registered hospitality firms indicated that entrepreneurs are ‘undeterred’ by the cost of operating in the sector
The number of new companies registered in Ireland was almost ten per cent higher in the first quarter of 2024 compared to a year previously, according to new figures.
Data from CRIFVision-net, the credit risk analysis website, indicated a 9.8 per cent annual increase in the number of newly-registered companies in the first three months of the year.
Despite the growth in new firms, CRIFVision-net noted the “challenging” circumstances for businesses, with the number of insolvencies recorded increasing by 55.6 per cent year-on-year.