New business start-ups in Ireland hit a six-year low

Female directorships accounted for 18.06% of start-ups in 2022.

New company start-ups hit a six-year low last year as inflation and the cost-of-living crisis impacted appetites to start a new business.

Figures from CRIFVision-net show 21,637 new company start-ups in 2022, the lowest number on record since 2016 and a 16% drop compared to 2021. Business insolvencies were also up, increasing 17% on 2021. Last year also saw 105 firms enter bankruptcy, a 47% increase. The number of start-ups entering examinership was down 7% and those entering receivership also dropped by 9%.