Bizstartup.ie - NewsNI entrepreneurs pursue start-ups despite recession

According to the latest set of figures from ICC Formations, the number of new companies formed in NI in the first quarter of 2010 has risen to levels not seen since the same period in 2009.

ICC said 987 new companies were formed in Northern Ireland in the first three months of the year, and while this represents a decrease of 4.5pc on the same period in 2009, it surpasses the number formed every quarter since.   

Antrim continues to be the most popular county for entrepreneurs to set up shop and is where almost 50pc of new companies formed are registered. This is followed by Down with 18pc and Derry with 12pc. Growth was also seen in Tyrone. However, Fermanagh still lags behind, accounting for only 1.8pc of all new companies formed in Northern Ireland during the first three months of 2010.

Tapping into entrepreneurial spirit

‘’It is exceptionally encouraging to see an increase in company formations as the number of new companies being incorporated is an important measure of economic performance, both current and future,” explained Head of Professional Services at ICC Formations, Jon Rock. “These figures follows strong growth in the past nine months of 2009 and while the closing quarter did take an expected hit, these figures put us right back on track again.”

According to Rock, 2009 was very clearly a difficult year for many companies in Northern Ireland, but positive signs are now emerging with court judgments now down and company formations up.

“We must now build on this and encourage and support those budding entrepreneurs. Irish people have always been very industrious and it is great to see that the recession hasn’t killed entrepreneurial spirit here in the North. In fact now could just be the perfect time for people to tap into hidden talent and start that new business that they’ve always dreamed of,” Rock added.

Article courtesy of Businessandleadership.com