Start-up formations are at a record high so far this year

CRIFVision-net managing director Christine Cullen  said the figures show that company start-ups 'remained robust during the first nine months of 2026, reflecting the resilience of the Irish business landscape'.

The number of start-ups increased by 8% during the first nine months of this year reaching a new record high of just under 22,000, data from CRIFVision-net shows.

As of the end of September, there have been 21,921 start-ups formed — the highest on record. 

Across the country, 18 counties saw an increase in start-up formations during the third quarter of 2026 compared to the same period last year.

Sligo and Kilkenny saw the largest increase, up 20% each, while Laois recorded a 19% increase, and Offaly recorded an 18% increase.

The IT sector recorded the strongest growth during Q3 with company formation increasing by 54% year-on-year.

The company said this reflects “continued activity within Ireland’s technology and digital economy”.

The motor sector also saw significant growth, with startups increasing by 23%, while construction recorded a 15% increase, and manufacturing rose by 11%.

July was the busiest month for company startups in the last quarter, with 2,800 new companies registered.

Managing director of CRIFVision-net Christine Cullen said the figures show that company start-ups “remained robust during the first nine months of 2026, reflecting the resilience of the Irish business landscape”.

Ms Cullen said the spread of start-up growth across various sectors is “particularly encouraging”.

“Sectors including IT, motor, manufacturing, and construction all recorded increased levels of company formation, while 18 counties saw year-on-year growth” she said.

“This points to healthy entrepreneurial activity across a diverse range of industries and regions, extending well beyond the major urban centres.”

Snapshot of business resilience

Ms Cullen said while start-up numbers alone do not provide a complete picture of the health of the economy, the “combination of record company formation and falling judgement activity provides an important snapshot of business resilience”.

“It suggests that, despite the cost pressure, uncertainty, and challenges facing many businesses, the Irish entrepreneurial ambition remains as strong as ever.

“We are seeing record numbers of entrepreneurs continuing to invest, expand and pursue opportunities for growth and innovation.”

CRIFVision-net said the increase in company formation follows a significant reduction in recorded commercial and consumer judgements.

The value of commercial judgements fell by 21% year-on-year to €31m, while the volume of commercial judgements declined by 20%. 

The volume of consumer judgements also recorded a substantial decline, falling by 24% year-on-year.

“The simultaneous increase in new business formation and decline in judgements presents an encouraging picture of the current trading environment,” CRIFVision-net said.

“While startup numbers reflect entrepreneurial activity and confidence to establish new businesses, judgment data provides an important indicator of financial pressure and the ability of businesses and consumers to meet their obligations.”

Company insolvencies

Last week, Deloitte Ireland published data which shows that between January and September, there were 632 company insolvencies recorded with the retail sector experiencing the biggest jump in the year to date.

There were 618 insolvencies recorded during this period in 2025 and 650 in 2024.

In total, there were 103 retail insolvencies during the first nine months of the year compared with 69 for the same period in 2025. 

High profile retail insolvencies this year included Harvey Nichols and the Born Clothing group.

The IT sector has also seen a surge in insolvency activity from 10 in the first nine months of 2025 to 39 in the first nine months this year — a 290% increase. 

The services sector had the highest number of insolvencies at 219 so far this year.