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 â€˜Telecommunicationsâ€™ and â€˜Electricity, Gas & Waterâ€™ all sectors saw a decrease in the number of companies being formed.â€˜â€™Replicating the trend from Quarter 1, the housing sector continues to be the hardest hit with â€˜Real Estate and Rentingâ€™ and â€˜Constructionâ€™ 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 2008â€™â€™ 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. â€˜â€™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 numbersâ€™â€™â€˜â€™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.â€™â€™ Concluded Rock.