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Hawksford Singapore releases Q14 2014 Singapore Business Formation Statistics Report

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SINGAPORE /PRNewswire/ — Hawksford Singapore’s recently released Singapore Business Formation Statistics Report concludes that the final quarter of 2014 was record breaking in terms of business formation activities, despite the halted economic growth.

Hawksford Singapore has been publishing the quarterly report since 2010. ‘We have seen interesting trends emerge in Q4 of 2014, and throughout the whole of 2014. What is most pleasing to see is the level of business formation activity, despite what are challenging economic circumstances.  It looks as though initiatives, such as the share capital clause of the Singapore Company Act, are also stimulating further growth. I look forward to reviewing our Q1 2015 report,’ said Jacqueline Low, COO, Hawksford Singapore.

The report shows that although the total number of business formations is lower than the preceding quarter, it is in line with the trend observed in previous business years. But when compared to the average of previous years, the total number of new businesses formed has far exceeded the trend. The average for the last quarter usually hovers below 15,000, but Q4 of 2014 set a new record with 20,540 new business registrations.

The business registration activity for the whole of 2014 was phenomenally high. The year also witnessed a change in trend with Sole Proprietorship registration gaining momentum.  For the whole of 2014, a total of 32,923 Sole Proprietorships were formed, of which, 9,585 were registered in Q4.

A total of 38,178 Private Limited Companies were incorporated during 2014, of which 9,326 were incorporated in Q4.

Interestingly, a total of 176 Branch Offices were setup in Singapore during 2014, as against 98 in the previous year.

Entrepreneurs continue to take advantage of the favourable share capital clause of the Singapore Company Act. As a result, in this quarter, 77% of businesses were formed with a share capital of S$10,000 or less.

The share of companies incorporated with 100% foreign shareholding increased from 19% in Q3 to 22% in Q4 and the share of companies formed with mixed shareholding increased marginally from 10% in Q3 to 11% in Q4.

Singapore continued to attract enterprise and individual investors from diverse geographic origins. The share of foreign individual shareholders increased to 25% in Q4 from 23% in the previous quarter.

For further information on the report please contact: Fong Yee Chye, Hawksford Singapore, email:fongyee.chye@guidemesingapore.com / t: +65 6222 7445

Source: Hawksford Singapore

Written by asiafreshnews

February 13, 2015 at 5:28 pm

Posted in Uncategorized

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