New figures show 84% of businesses survived through the pandemic

Almost 6 per cent of enterprises operating in 2019 appeared to be closed by the end of 2021
New figures show 84% of businesses survived through the pandemic

New figures released by the Central Statistics Office (CSO) show that 84 per cent of businesses which were trading normally in 2019 had survived by the end of 2021.

According to the CSO, almost 6 per cent of enterprises operating in 2019 appeared to be closed by the end of 2021.

Of the 1.5 million people employed by businesses across the State in 2019, just two per cent had been working in a business which shut down by the end of 2021.

The sectors which appeared to suffer the most with closures were the real estate activities sector (10 per cent) and the accommodation and food service activities sector (9 per cent).

Micro sized businesses, which employee between two and nine people, accounted for seven per cent of closures by the end of 2021.

This was followed by small businesses employing 10-49 people at three per cent, and medium businesses employing 50-249 at two per cent.

Large enterprises which employ more than 249 people accounted for just 0.5 per cent of closures.

Meanwhile, just over 10 per cent of enterprises, employing almost four per cent of the population, were at risk of closing at the end of 2021.

"The other services activities sector, which includes gyms and hairdressers, had the highest proportion of enterprises which showed signs of being at risk of closing at 18 per cent," CSO statistician Sorcha O’Callaghan said:

"This was followed by construction (15 per cent) and accommodation and food service activities (14 per cent).

"Restrictions during the pandemic had a significant impact on all these sectors."

Businesses still trading at the end of 2021 accounted for 94 per cent of jobs in 2019.

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