Company insolvencies declined by almost half in August compared to the same time last year, new figures from show. 

Insolvencies decreased by 46% year-on-year, from 107 to 58. 

Vision-net said that professional services, wholesale and retail and construction were the three most insolvent industries. The construction industry saw a 77% decline in insolvencies, dropping to 6 from 26 in 2014.

Dublin accounted for 52% of all insolvencies (30), though this figure was down by 41% on last year (51). Carlow and Cork were the second and third most insolvent counties.

Clare, Kerry, Kilkenny, Leitrim, Louth, Mayo, Roscommon, Sligo and Westmeath experienced no insolvencies this month.

Meanwhile, Vision-net also said that a total of 3,094 company and business start-ups were formed in August, an average of 114 a day. 

Company start-ups increased by 22%, accompanied by a 34% increase in business registrations.

Professional services, social and personal services, and wholesale and retail were the three most popular industries for new start-ups. 

The manufacturing and transport and logistics industries also saw significant growth year-on-year, with start-up numbers increasing by 90% and 106% respectively.

Dublin, Cork and Limerick were the three most popular locations for new business.