Number of new companies in Limerick on the rise, according to report

THE number of new companies starting up in Limerick rose by 15% in the first nine months of the year, new figures have shown.

Statistics released by business and credit risk analyst www.vision-net.ie show the county is bucking the trend. Nationally, the number of new companies was down by seven per cent up to the start of September.

Conversely, insolvencies declined by 23% in the first quarter, compared to the same period last year.

Christine Cullen, Vision-net, said: “While the slowdown in new business and start-ups may come as a surprise, when combined with the decrease in insolvencies, the trend suggests that Ireland’s economy is reaching a mature growth phase.”