Statistics released by ICC Formations reveal that there was a 20% drop in the number of New Business Start Ups in Quarter 2 2009 compared to Quarter 2 2008. With the exception of ‘Telecommunications’ and ‘Electricity, Gas & Water’ all sectors saw a decrease in the number of companies being formed.‘’Replicating the trend from Quarter 1, the housing sector continues to be the hardest hit with ‘Real Estate and Renting’ and ‘Construction’ once again showing the biggest decreases of 57.5% and 35.5% respectively. In total 402 fewer companies were formed in these sectors in Quarter 2 2009 compared to Quarter 2 2008’’ explained Head of Professional Services at ICC Formations, Jon RockIn total there were 826 fewer companies formed in the Republic of Ireland in Quarter 2 2009 compared to Quarter 2 2008. ‘’Not surprisingly, the biggest drop was in Leinster with 517 fewer companies formed here – Dublin alone accounted for 326 of these. There was a drop of 17% in Munster and 24% in Connacht and whilst Ulster saw the biggest % drop of 40.9% this was with relatively low numbers’’‘’However, it was not all bad news, as some Counties did see an increase in the number of Companies formed. Tipperary saw an increase of 32.5% with 25 more companies formed here than in Quarter 2 last year. Wicklow also had a small increase of 8.5%, whilst the figures for Kilkenny remained fairly static.’’ Concluded Rock.