Incorporation rate 'back at pre-recession levels'
An average of over 100 companies per day commenced trading in July, according to new figures.
According to data from risk analysis firm Vision-net, 2,569 companies and businesses began trading in July, down 3% on the same month last year.
However more limited companies have been established in the first six months of 2013 than at any time since before the recession, Vision-net said.
Some 1,014 limited companies were established in July 2013, a 24% rise on July 2012, when 819 companies were incorporated.
On average, five companies failed every day in July.
Of the 119 insolvent companies, 66 were liquidated, 47 entered receivership, and an examiner was appointed to 6.
The number of insolvencies which occurred in July decreased by 6% when compared to the same period in 2012. This also represents a 17% drop on the figure from the same period in July 2011 (144).
Christine Cullen, Managing Director of Vision-net, said the figures show a slight improvement in the domestic economy.
"The decline in company insolvencies which is down 6% on the same period last year is very encouraging," she said.
"Equally the incorporation rate is growing and for the first time in four years it has aligned with pre-recession levels.
"These findings are very encouraging as they demonstrate a growing resilience amongst Irish businesses and a move away from a negative to a more positive performance which, hopefully, can be sustained in Q3 and Q4.
"While we are not out of the woods yet, there is certainly evidence and cause to be optimistic about the road to recovery and economic growth"
