Analysis and Studies - Country Analysis

Crif vision-net study: Ireland's Company Start-Ups Decrease 12% Year-On-Year In Q1

Q1 2022 data shows that the number of company start-ups decreased by 12% year-on-year in the first three months of 2022 part of a national trend seen across 16 counties.

 The figures suggest that economic tailwinds like supply chain vulnerabilities exposed by the pandemic, combined with cost-of-living inflation, may be impacting individuals wishing to begin their own venture.

 Urban hubs such as Dublin, Cork, Galway, and Limerick all recorded declining numbers in company start-ups, but rural counties such as Leitrim, Longford, Laois, and Wexford saw an increase.

 There was a 19% increase in the number of companies dissolved compared to the same period last year (Q1 2022 vs Q1 2021).

 Growth was seen in some sectors weakened through Covid-19 public health restrictions, with hotels and restaurants rebounding by 14% and construction by 5% during the period.

 A rise of 26% in the number of green start-ups in areas like recycling, solar and wind energy was seen during the period in the utilities sector, fuelled by the drive to meet sustainability targets.

While the return to the workplace post-Covid signalled a 7% increase in the educational sector, with a rise in start-ups related to childcare education and professional services around hybrid working and workplace wellbeing.

Click here to read the full report.