Rate of company start-ups jumps 5% in first quarter

THE number of companies formed jumped 5% in the first quarter of this year to 3,543 as people who lost jobs looked to go it alone.

The number of business names registered in the first quarter of the year surged by 17% to 8,124. The figures from visionnet.ie also found the number of companies that appointed a liquidator fell by 3% in the period to 521.

Entrepreneur Elaine Larkin of the Rising Tide Centre, New Ross, said the increase in business registrations compared to company registrations could be attributed to sole traders testing the water before forming a company.

“Whether a person leaves a job because they want to, through redundancy or simply because a contract has come to a natural end, many feel they don’t have the same opportunities as in previous years. This time out gives people the breathing space to reassess what they want to do with their lives and explore becoming their own boss.

“Hunger, of course, is the driving factor in many other cases. If you can’t get PAYE employment in your area, sometimes there’s nobody only yourself to create the work and provide a steady stream of income.”

The Rising Tide Centre, which is jointly promoted by the JFK Trust and Wexford Local Development, was set up to assist start-up businesses.

JFK Trust chief executive Sean Reidy said: “The Rising Tide Centre was established to assist entrepreneurs and start-up businesses in the New Ross area and to promote the spirit of entrepreneurship in New Ross.

“The fully fitted offices means that all an entrepreneur needs to work is their own computer and mobile phone.

“Each desk space is equipped with a desk and chair, high speed broadband access, a telephone connection point and secure storage,” said Mr Reidy.