The first half of 2021 has seen an almost 40% increase in new company registrations in Donegal, according to new data from credit risk analyst CRIFVision-Net.
The latest figures published today reveal that there has been a total of 326 new companies registered here so far this year. This marks a 39% increase when compared to the first six months of 2020 (234 start-ups).
The figures also show there were almost 14,000 new companies registered nationally during the same period. This was a 42% increase compared to the first six months of 2020 (9,860 start-ups).
Within this period, March was the strongest month for start-ups recording a total of 2,715 new registrations.
However, the second quarter of the year proved to be the busiest quarter, recording a 20% growth in company registrations compared to Q1.
25 of the 26 counties in the Republic of Ireland experienced a year-on-year improvement in new company registrations for the first half of this year. Amongst these counties:
- Dublin accounted for the largest number of new start-ups, recording 6,631 new registrations (+44%)
- Cork (1,399) and Galway (552) experienced the largest growth of all the urban areas outside of the capital, with registrations representing a 45% increase in each county, respectively. Furthermore, 202 new registrations in Limerick mark a 35% increase in the county.
- Sligo (+77%), Westmeath (+61%) and Monaghan (56%) recorded the highest percentage growth.
Mayo was the only county who experienced a decrease in registrations, with year-on-year new registrations in the county decreasing from 174 to 172 (-1%).
According to the data, the legal, accounting and business sector accounted for the largest portion of new start-ups in the first six months of the year, registering a total of 2,543 new companies, up 19% when compared to 2020.
