Experian®, the global information services company, has released its Business Health Index for first six months of the year in the Republic of Ireland. According to the latest figures Leitrim ranked sixth with a Business Health Index of 106.
Using Experian’s credit scoring model, the Business Health Index provides insight into the business universe of each of the 26 counties in the Republic.
The findings reveal that Monaghan ranked number one with an Index Score of 118. Tipperary and Mayo follow with an Experian Business Health Index of 113 and 110 respectively. Conversely, Wicklow was the lowest ranked county on the Experian Health Index with an Index Score of 96.
Experian analyses data across a number of variables and determines a credit risk score for every business in Ireland. The Experian Business Health Index ranks each county against a national average to determine which counties have the healthiest business universe. Experian® also analyses the number of new businesses established and the number of companies dissolved/ceased during the year to determine whether the business universe is growing or contracting in each county.
In terms of indications of net growth on a national level (new companies 7,003 less dissolved/ceased 6,859 companies) there are 144 more companies actively trading now compared to six months ago. Cork has the highest net growth with 85 businesses this year, followed by Louth with 55 and Tipperary and Dublin, who both have 49 companies. Cavan was the worst performing county with a negative net of 36, followed by Wicklow 33 and Waterford, 32.
Ray Breen, Propositions Manager, Experian Ireland said: “The Business Health Index allows us to look at the entire business universe nationally and obtain insight at a county level. Compiling this information allows us to view the health of business activity at a more granular level to see whether the country’s business universe is expanding or contracting.
“It is really encouraging to see that fifteen of the twenty six counties have a Positive Business Health Index Score. However this also means eleven of the counties aren’t performing as well and this reiterates the need for companies to ensure they monitor their level of risk across their customer portfolio. By proactively managing risk they can make informed decisions in terms of managing their exposure.” he added.