Over 15,000 Businesses Established Nationally this year

- Bank of Ireland Business Banking issues latest Business Start-Up Barometer

Highlights:

Bank of Ireland Business Banking today (Tuesday 24 October, 2006) issued the Business Start-Up Barometer which tracks the number of companies established in Ireland. Utilising statistics compiled by Vision-Net.ie, the Barometer shows that it has been another active year for start-up activity with 15,161 new companies established year to date for 2006 (75 businesses established per working day since January 1st) - a 2% increase on the number of companies set up in Ireland this time last year.

On a sectoral basis, Construction and Civil Engineering remains the top sector for business start-ups with 1,877 (12.3%) new companies. The Real Estate sector occupies a close second spot with 1,822 (12.1%) companies formed this year. Consultancy is also a popular start up choice with 728 (4.8%) new businesses and 449 (2.9%) Software Consultancy firms now up and running in 2006.

Following trends in 2005, Dublin is the most popular choice for entrepreneurs with 5,479 companies choosing to locate in the county. This is followed by Cork where 1,227 companies were formed, Galway with 726 start-ups and Limerick with 536 new companies.

Interestingly, statistics compiled show that the most popular male director first names are John, Michael and Patrick, while female directors are most likely to be called Mary, Margaret or Anne. The research shows that if your star sign is anything to go by, there are more directors born under Cancer than any other with the least number represented by the Capricorn sign.

Commenting on the latest Barometer figures, Emer McDonnell, Business Recruitment Manager, Bank of Ireland said: "2006 has been a strong year for business formation activity as Ireland continues to be recognised as the most entrepreneurial country in the EU. Year on year progress has been consistent and we expect momentum to continue across all sectors for the remainder of this year and into 2007.

"Bank of Ireland recently launched the 'Best ever deal for small business' demonstrating its commitment to the SME sector. This deal includes an award winning Business Start-Up Package designed to assist new Irish businesses with a range of banking and other related offers worth approximately €1,500 per annum."

Limited Company registrations by county from 1 January, 2006 to 19 October, 2005 are as follows:

Ends

For reference;

Anne Mathews
Media Relations Manager
Bank of Ireland Group
Tel:01 6043836 / 087 2460358

Dermot Nolan
Head of Business Marketing
Bank of Ireland Business Banking
Tel:01 604 3349

About Bank of Ireland Business Banking:

Bank of Ireland is the number one Bank for SMEs (27% lending share, compared with 25% [AIB], 14% Ulster and 8% [BOS]. [Source, MORI Ireland Research Sept '05] providing over 100 loans daily to this sector.

The Bank of Ireland business offer to SMEs encompasses a market leading business start-up package, specialist packages for the franchising, intermediary, retail, food and beverage sector, comprehensive business finance options, supports to safeguard business development, access to award winning Business On Line internet service to handle all daily banking transactions and a switching pack to facilitate business customers switching business current accounts.

This offer is delivered through a network of 85 Senior Business Managers supported by sectoral experts, 175 Business Managers, 390 Branch Managers and a dedicated Enterprise Support Unit committed to funding Start-Ups and developing SMEs.