Despite the economic shifts at a national and global level, our data reveals the first three months of the year have proven promising for several high-profile industries. Key economic sectors including education (28%), motor (18%), and agriculture (11%) saw positive double-digit growth. Overall number of startups amounted to 6,340, reflecting a growth of 3.9% compared to Q1 2024.
This level of start-up activity in the Q1 period has not been seen since before 2020. Suggesting that despite inflationary pressures, rising interest rates, and global uncertainty, Irish entrepreneurs are identifying new opportunities and moving forward with confidence.
Sectoral Overview
13 sectors saw a Q1 increase in startups vs 2024, including education (28%), motor (18%), Agriculture (11%), construction (7%).
Regional Overview
The highest Q1 increases in startups compared to 2024 were found in Laois (100%), Meath (25%), Roscommon (24%), Limerick (23%) and Tipperary (15%).
Counties with large urban populations including Dublin (4%), Cork (3%) and Galway (2%) experienced a minimal increase in first quarter new start-ups. Limerick, meanwhile, recorded a 23% year-on-year growth rate.
January was the busiest month for new company startups in the quarter, with 2,254 new companies registered in the first 31 days of the year.
Irish Businesses Remain Resilient Amid Looming Economic Uncertainty
The uncertainty surrounding the upcoming tariff implications due on April 2nd and its potential impact on business and consumer confidence adds another layer of complexity to the economic outlook. While it remains difficult to predict the full implications, it is a factor that businesses will be monitoring closely in the months ahead.
Sectors including Real estate (-12%), manufacturing (-12%), wholesale and retail trade (-5%) and hospitality (-2%) experienced year-on-year quarterly decreases in company startups.
Stay tuned for next weekâ¿¿s update, where our Managing Director, Christine Cullen, will be giving her thoughts on the latest figures.
For more information, call us on 01 903 2660 or email solutions.vision-net@crif.com.
By Business Barometer.
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