21,637 new company start-ups were registered in Ireland last year, the lowest number on record since 2016.

The new figures from CRIFVision-net show that the number of company start-ups dropped 16% in 2022 compared to the previous year.

According to the data, the first half of the year recorded the highest number of new company start-ups, while July was the worst month for new registrations and May was the best month.

Despite the overall decrease in activity among the start-up community in 2022, today's figures show there were some signs of regrowth, with two consecutive months of increase recorded in November and December.

Meanwhile, insolvency figures for last year were up 17% year-on-year and a total of 105 start-ups entered bankruptcy in 2022 - an increase of 47% year-on-year.

The number of start-ups entering examinership was down 7% and those entering receivership also dropped by 9%.

The wholesale and retail trade sector recorded the biggest drop in new company start-ups in 2022 - down 43%, followed by manufacturing, fishing and computers.

Only five industries recorded an increase in new company start-ups.

Extra-territorial organisations and bodies experienced the largest percentage increase - up 50%, followed by agriculture - up 14%, hotels and restaurants - up 6% and electricity, water and gas supply - up 5%.

"Start-ups faced a different economic environment in 2022," said Christine Cullen, Managing Director of CRIFVision-net.

"A combination of inflation, high interest rates, geopolitical uncertainties and energy insecurity led to an uncertain economic environment," she added.

Today's data shows that female directorships accounted for 18.06% of start-ups in 2022, a 0.79% increase year-on-year.

Meanwhile, male directorships of start-ups in Ireland saw a 0.78% increase, up to 41.06% compared to 40.28% a 2021.