Waterford is the 12th most popular location in Ireland for new business start-ups, with some 80 new businesses established during the second quarter of the year.
That was one of the more interesting local findings to emerge from the latest Bank of Ireland Business Banking ‘Business Barometer’.
Despite the economic slowdown, that such set-ups were recorded despite the return of the ‘R’ word has got to be seen as a somewhat encouraging development.
“The findings of the barometer indicate that the recent economic climate has posed significant challenges to Irish start-up businesses this year,” said Bank of Ireland’s local commercial branch manager Pat Cullinane.
“However, the continued diversification of start-ups into other sectors demonstrates the ability of Irish entrepreneurs to adapt to a changing economic environment and their agility in overcoming current challenges in the small business environment.”
Added Pat Cullinane: “While there has been a positive improvement in the number of start-ups this quarter, there continues to be significant challenges in the market place.
“Key to the success of new businesses in Waterford and indeed existing/growing businesses will be their ability to adapt to the changing economic environment.
“History has shown the resilience of small businesses in similar challenging times and this is down to business owners being responsive to market changes.”