There was a decline in company start-up activity in the late summer, according to the latest figures from CRIFVision-Net.
The decline is being interpreted as a response to fears over rising inflation, soaring energy prices and borrowing costs feeding into the wider marketplace.
Insolvencies were up by around a third in the three months to the end of September, the figures show, with sectors including computing, retail and real estate all recording an increase in this avenue of closure.
However, although business owners are bracing for a difficult few months ahead, there was a decline in the overall volume of businesses being dissolved in the three months to the end of September.
Company closure rates were down by over a fifth on the same period last year, the figures show.
The decline in start-up activity was most acute in the retail, manufacturing and motor sectors.
The data shows 1,122 fewer start-ups in the retail trade sector compared to the same three-month period last year.
20 counties registered a year-on-year decline in new company registrations between July and the end of September.
Although Dublin accounted for the largest number of new start-ups nationwide, recording a total of 4,770 registrations, the number was still down 25% - or 1,614 registrations - when compared to the same quarter in the prior year.
"For the third consecutive quarter this year we are seeing a contraction in start-up registrations. September in particular saw the largest drop when compared year-on-year for the quarter," Christine Cullen, Managing Director of CRIFVision-net said.
"A bright spark, however, is that despite of the 16% decrease in start-ups during the quarter, there was a considerable number of companies still being created each month suggesting there are many businesses and entrepreneurs willing to invest in new ventures even though there is a very challenging economic backdrop," she added.
