Donegal has been ranked 15th out of Ireland’s 26 counties in the first ever Experian Business Health Index.
The global information services company analysed data across a number of variables and determined 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 had a healthy business universe. Experian® also analysed the number of new businesses established and the number of companies dissolved/ceased during the year to determine whether the business universe was growing or contracting in each county.
Donegal ranked 15th in the Business Health Index, with an Index Score of 100 and 46.37 per cent of businesses in the high or maximum credit risk category. ]
Donegal’s rating compares well with our neighbours, given that Sligo and Leitrim were in bottom four, along with Galway and Westmeath.
Tipperary topped the index, with an Index Score of 89 and the lowest number of companies in the high or maximum credit risk category (41.29 per cent). Conversely, Galway was the lowest ranked county, with an Index Score of 114 and the highest percentage of companies in the high or maximum credit risk groups (52.47 per cent).
Experian also looked at business growth rates around the country to examine whether the business universe was expanding or contracting in each county. The growth rate is calculated by subtracting dissolved/ceased companies from the sum of new companies established in 2011*.
Counties in the South East had the strongest growth rates: Kilkenny (2.6 per cent), Carlow (0.9 per cent) and Waterford (0.7 per cent).
Howard Lewis, Managing Director of Experian Ireland said, “What the Business Health Index tells us is that when looking at the entire business universe in Tipperary, the county has a lower proportion of businesses at risk of failure than any other county”.
“What is encouraging is that fifteen of the twenty six counties have a Business Health Index of 100 or under, which means more than half the counties in Ireland are performing better than the national average in terms of the level of risk in their local business populations.”
For more information visit www.experian.ie