Louise O'Reilly
Question:94. Deputy Louise O'Reilly asked the Taoiseach the churn rate, the business entry and exit rates, for Irish firms for each of the following years 2018, 2019, 2020, 2021, 2022 and 2023. [2818/24]
View answerTuesday, 23 January 2024
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The Central Statistics Office (CSO) has responsibility for collating information on the number of enterprises which open each year and which close each year as part of its work in developing and maintaining the Central Business Register. The register is developed using data provided by the Companies Registration Office (CRO) and the Revenue Commissioners.
The most recent final data available from the Central Business Register, published as part of the CSO’s annual business demography release (Business Demography 2021 - CSO - Central Statistics Office), is for 2021 for enterprise opening and for 2019 for enterprise cessations (enterprise deaths). The difference between reporting on enterprise openings and cessations is due to the methodological requirement whereby an enterprise is only recorded as having ceased trading where no tax returns have been filed for two successive years. The relevant data are presented in the tables below:
Table 1: Number of Enterprises which opened each year, 2018 to 2021
|
Year |
Number |
|
2018 |
25,794 |
|
2019 |
26,910 |
|
2020 |
36,577 |
|
2021 |
37,615 |
Table 2: Number of Enterprises which closed each year, 2018 and 2019
|
Year |
Number |
|
2018 |
28,971 |
|
2019 |
30,622 |
In line with the requirements set out in Regulation (EU) 2019/2152 (‘EBS Regulation’) and Regulation (EU) 2020/1197 (‘EBS General Implementing Act’) which govern the collection of business statistics, these data covers all NACE sectors, excluding NACE Sectors O - Public Administration; and S94 - Activities of Membership organisations.