Galway one of twelve counties to record double-digit growth in new arrivals

Analysis...Christine Cullen, Managing Director of Vision-net.
Analysis...Christine Cullen, Managing Director of Vision-net.

Galway was one of twelve counties across Ireland to enjoy double-digit growth in start-ups over the first quarter of 2019 – with the third highest county figure in the country.

That’s according to new figures from business and credit risk analyst CRIF Vision-Net, which also reveal that the country as a whole has just recorded its highest start-up figures in 13 years.

A total of 71 new companies were formed every day over the first three months of the year – and despite Brexit uncertainty, Galway was one of a dozen counties that saw double digit start-up growth.

In all, 6,413 new companies were created between January 1 and March 31 – up almost 14% for the same period in 2018.

Dublin recorded the highest number of start-ups with 3,089 established in the capital in the first quarter of the year, amounting to almost 50% of the total number of start-ups established.

Cork followed with 690 new companies in the first quarter – up 13.3% on Q1 2018, with Galway coming in third with 236 new start-ups – down by just 1.2% on Q1 2018.  Limerick saw 210 new start-ups created, representing a 7.7% increase on the same period last year.

Professional services was the biggest contributor, with 1,448 new start-ups in the first three months of the year – a 22% increase on this time last year.

Social and personal services grew by 50% (945 new companies). The third largest sector was financial services, however it decreased by one percent to 708 new start-up companies (compared to 715 in Q1 2018).

For more, read this week’s Connacht Tribune.

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