Start-up companies up 6% on last year

SOME 8,800 start-up companies have been registered so far this year in Ireland, 6 per cent higher than in the same period last year, according to data from visionnet.ie.

However, the number of partnerships and sole trader business names registered so far this year stands at 16,728, down 9 per cent on last year.

Companies in the field of education, health and medical, agriculture and manufacturing have seen the most start-up activity, according to visionnet, an online service which provides information on businesses. The construction, hospitality and retail sectors are showing more negative activity.

Despite the increase in start-up activity so far this year, the number of start-ups is lower than in previous years. 2005 saw 17,300 start-ups in total, while in 2000, 18,200 new companies were registered.

Managing director of visionnet.ie, Christine Cullen said that while the number of start-up businesses is lower than in previous years, the number of operating companies stands at 195,000, up from 175,000 in 2001.

Companies are also now running for longer, she says. “The average age of a business when it runs into difficulty is eight years. Five years ago it was five years. Effectively, companies are staying in business longer than they used to.”

Visionnet.ie shows the average age of a company director is 49. There are now 311,000 company directors registered in Ireland, compared to 177,000 in 2001.