New figures show that just over 1,000 companies were declared insolvent in the first half of this year, or eight Irish companies every working day. This compared with 907 in the first half of 2010.
Vision-net.ie says there was a 31% increase in company dissolutions from the same period last year, with receiverships up 39% and examinerships down 43%.
The company says this suggests that the appetite to save struggling companies, particularly in terms of investment of money and time, has diminished.
The Vision-net.ie figures also show that the number of people choosing to start their own businesses continues to decline. First-time director appointments have dropped by 15% in the first half of the year compared with the same period last year.
13,902 business names were registered in the first six months - a drop of 9% compared with the same period last year.
Vision-net also carried out credit rating stress tests on a wide sample of 66,701 private limited companies which have filed accounts since the start of the year.
It says the results of these tests show that 32,000 companies, or almost half of those surveyed, are struggling with debt and at risk of failure.
