125 new companies formed in Meath so far this year

Meath is now the fifth most popular county in Ireland for new business registrations and some 125 new companies registered in the county in the first quarter of 2009, according to the latest Bank of Ireland Business Barometer. The report confirms that, while nationally there has been an 18 per cent fall in new business registrations for the first quarter of 2009 compared to the same period last year, there has been an encouraging 6.6 per cent increase in the first quarter of 2009 compared to the last quarter of 2008. Meath continues to be a popular location for new business start-ups and is now the fifth most popular location in the country. The report confirms that there were 125 new Meath businesses registered in the first quarter of 2009 compared to 130 for the same period in 2008. This decrease is just three per cent compared to an overall national average decrease of more than 18 per cent in the same period. However, the figures also show that there was a 52 per cent increase in dissolved companies in Meath in the first quarter of 2009 when compared with the same period last year. This is more than double the national average of a 20 per cent increase in dissolved companies. Meath County Council"s director of economic development, Kevin Stewart, has welcomed news that Meath is fifth most popular location for new business start-ups. He said: 'I am delighted to see that the hard work put in by this council and others to attract and retain business in County Meath is continuing to pay dividends. 'It is great to see Meath improving its position on the table for new start-ups, and particularly encouraging to see that we are generally holding our own in spite of the overall gloomy national picture.' Mr Stewart added: 'The news that new registrations are starting to slowly increase compared to the end of last year is also good news. We in Meath County Council through our economic development unit welcome enquiries from any business intending to establish in the county and we will also work closely with existing businesses to help them through theses difficult times in any way that we can.' Meath is the joint fifth most popular location to set up business in the country, along with Limerick, for the first quarter of this year, behind Dublin (which accounts for 43 per cent of new registrations), Cork, Galway and Kildare. Elaine Lowry, manager of the Bank of Ireland in Navan, commented: 'The total start-up figures come as no surprise as the year starts largely as predicted with a slowdown in business start-ups and a reduction of over 18 per cent year on year. 'However, we must not lose sight of the fact that there is a positive story here - 3,363 new businesses were formed this quarter, demonstrating the willingness of this sector to chart its own road to recovery. Despite the harsh environment, there are still some real opportunities for small businesses to develop and grow. The diversity of businesses set up in the last quarter is promising, and highlights the opportunities available - these businesses have identified new niches and market gaps.' She said: 'What"s more, history has shown us that more resilient businesses are set up in times of difficulty. Just look at Microsoft and Apple. Nonetheless, we recognise that there will be significant challenges for small businesses throughout the coming year. 'It is imperative that businesses remain focused in the months to come. Businesses must have a clear customer focus, be innovative in reaching its customers and maintain robust financial disciplines. 'We are committed to supporting the SME sector in clear recognition of its importance in building Ireland through this downturn. We have established a fund to help businesses and we urge them to meet with their individual banks to discuss the best way to structure their finances through the economic turmoil,' she concluded.