Over 10,000 new businesses have been established in Ireland since January, according to research published today by Bank of Ireland Business Banking.
Using statistics compiled by Vision-Net.ie, the bank tracks the number of companies formed on a sectoral and geographical basis using statistics based on documents filed by companies such as the registry of business names.
The high level of business start-ups is driven by continued consumer demand, economic growth and high levels of entrepreneurship, according to Bank of Ireland's head of business marketing, Mr Dermot Nolan.
He predicts that business owners are planning to use SSIA savings to fund start-ups, resulting in further growth.
The bank identifies construction and civil engineering as the most popular sector in Ireland, with 1,288 companies established in the first six months of the year. Real estate and property management companies account for the next most popular sector with 654 and 637 company formations respectively.
Most company formations were in Dublin with 3,586 companies set up so far this year. Cork was the second most popular location with 772 companies formed, and Galway was third with 507 company formations.
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