Telecoms, health and social sectors see new firms hike

THERE was a surge in the number of firms established in the telecommunications, health and social sectors in the first three months of the year.

Every other sector saw a drop in the number of new companies established in the period meaning overall company formations were down 22.5% in the first quarter of the year, compared with the same period last year.

The housing sector saw the biggest drop, falling 63% according to figures released by ICC Formations. Construction firms formed were down 35%.