118 start-up firms launched every day

Entrepreneurship is on the rise, with 118 new start-ups a day launched last month but trading conditions remain challenging, according to figures from Vision-net.

The credit risk analysis firm recorded 3,080 start-ups from Apr 1 to 26, up 10% on 2011. Of these, 2,018 were registered business names, while 1,062 were company incorporations.

However, 149 companies — or six each day — declared insolvent last month. This is down 17% on same period last year.