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IRISH ENTREPRENEURS SHOOK off the economic woes last year and launched the highest number of new businesses in 7 years.
Nearly 18,000 companies were formed last year, 14% more than in 2013 and the most since 2007 – before the recession took hold.
And 6 industries had their biggest year for startups since at least 2000, according to the latest business-registration figures from Vision-Net.
Easily the highest number of new companies came in the professional services sector, which had 4,618 startups last year.
That figure was the above the next-highest total of 4,574 from 2000 and nearly 15% up on last year.
The category includes everything from holding companies to advertising and recruitment.
The biggest increase for 2014 came in the real-estate sector, followed by construction and finance – although some of the biggest growth over the past 5 years has been in IT startups.
That sector had its biggest year since the dot-com boom in 2000.
All of the top-10 sectors for new company registrations last year showed signs of growth. Here is how each one fared:
A good time to expand
One startup to launch in 2014 was Galway-based Tara Dalrymple’s Mission Possible, which is in the process of being rebranded as FeelsRight ahead of a new website launch over the next month.
The site will allow employers to organise for their workers’ out-of-office chores and tasks to be outsourced as rewards or recognition.
It means that when they are at work, they will be more focused, more productive – it’s a win-win because employers get more engaged staff and employees get their stuff sorted while they’re at work,” she said.
Dalrymple, who was last year named one of Ireland’s top women in technology, is bullish about her company’s prospects with plans to launch in Galway and Dublin first before expanding across the island and into the UK.
She said the work, which could cover anything from dog walking to waiting for a parcel delivery, would be outsourced to local businesses which would have the added benefit of growing the economy for domestic small and medium enterprises (SMEs).
Setting goals
This month, TheJournal.ie’s ongoing SME focus will shift to how setting goals and getting staff working together can make a big difference to helping enterprises grow.
When asked how she would benchmark her achievements this year, Dalrymple said working with a “performance coach” was key to keeping her on track as it took away the temptation to “press pause” on her goals.
“I sit down with him and create my own goals, make sure they’re achievable and give myself milestones,” she said.
I have always set a big, hairy, ambitious goal for the year that I try to hit as well. I think if there’s someone else that you are working with, that makes you want to show achievement. I’m a busy mother-of-three with 2 businesses – having this external person helping in my life has made me realise that I can achieve a lot more.”
If you have a suggestion for an Irish SME you would like to see featured in January or know a business with an innovative way of keeping staff motivated, send the author an email below.
- First published at 6.45am
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The registration of new companies is due to the number of people being hired as contractors, a move designed to ensure large companies can avoid laws such as having to pay redundancy and pensions. Essentially and erosion of workers rights.
Also, “Real Estate” companies are not necessarily a reflection of economic activity. Just the beginning of another property boom. Big investors taking no debt risk by setting up companies in tandem with the banks as they all know that risk is relative to the next bailout they get.
If anyone that setup one of those companies reads this – I wish you the best of luck
And can I have a job?
This is clearly good news and can’t be chalked down to job bridge but the doom merchants still find a way to be negative . There are plenty of things to complain about without jumping on positive news stories . I know of plenty of start ups that have come into existence in the last 12 months and I’m also aware of the contractors working for multinational companies . Many of these contracts are quite lucrative as they compensate for the lack of security in tenure .
It is worrying that there isn’t more manufacturing industry created given that this is where the potential export market is.
Also worth bearing in mind that all new businesses are companies. Plenty of other business models out there.
Sole traders, partnerships etc. also create jobs and contribute to the economy.
I meant to say NOT all new businesses are companies.
OMG property is tops again “The new house advertised is 5 minutes from shopping (if you have an airplane)!!”
yea, Mission Possible, could do with a rebrand alright. good heavens save us. scary.
I wish new start ups all the best but alas this seems like another property bubble…. This Govt just like the last Govt needs to really perk up and listen to this big scary word : S U S T A I N A B I L I T Y !
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