Dampened business sentiments, sluggish economic growth worldwide, and uncertainty surrounding the European crisis has led to investors and entrepreneurs exercising caution in setting up business operations in Singapore during Q4 2011.
Singapore (PRWEB) January 18, 2012
http://www.GuideMeSingapore.com, a leading Singapore-focused business information portal, has released its quarterly Singapore business incorporation statistical report for Q4 2011. The report reveals the trend among newly registered companies in Singapore during October-December 2011 as well as the overall trend for 2011. More specifically, end-users can obtain data on the number of newly setup business entities, the statistical profile of recently incorporated companies, the top industries to have recorded maximum business formation activity and the countries that are establishing the highest number of companies in Singapore.
Key highlights of the report include:
- There were a total of 12,952 business registrations in Singapore during Q4 2011 indicating a 7% decrease as compared to Q3 2011.
- The number of business entities incorporated in Singapore during 2011 totalled to 55,699.
- The exempt private limited company was the most popular business entity type in Singapore during 2011 including Q4, followed by sole-proprietorships and private limited companies.
- Majority of the newly registered companies in 2011 (Q4 included) had an initial share capital below S$10,000.
- Q4 2011 witnessed a 2% decrease in the number of companies that were registered with 100% local shareholding and a 3% increase in companies with 100% foreign ownership as compared to the previous quarter.
- More than half of the companies that were incorporated from Q1-Q4 2011 had local ownership.
- Wholesale trade, financial services, and head offices and management consultancies were the top three industries to witness maximum number of company formations in 2011, including Q4.
- Singapore consistently attracted investments from United States, United Kingdom, Australia, Japan, India, China, Hong Kong, Malaysia, and Indonesia during every quarter of 2011.
Commenting on the report findings, Ms. Jacqueline Low, the Director of Singapore company registration agency, Janus Corporate Solutions - the parent of GuideMeSingapore.com site said, “The Q4 statistical report presents mixed results. Dampened business sentiments, sluggish economic growth worldwide, and uncertainty surrounding the European crisis has led to investors and entrepreneurs exercising caution in setting up business operations in Singapore during Q4 2011. This is why we see a 7% drop in the number of business formations in Q4 as compared to Q3 2011. However, on the positive side, the total number of business formations in the year of 2011 is slightly higher than 2010.
Another key finding is that overall for 2011, foreign entrepreneurs from the West as well as Asia demonstrated their vote of confidence in Singapore by investing in the country. This can be attributed to Singapore’s commitment to maintaining strong fundamentals including a pro-business climate, excellent infrastructure, trade links with major economies, efficient legal system, low taxes, a strong talent base, political stability, and economic resilience. We strongly believe that these factors will continue to steer more investments into the country in the months to come and we are cautiously optimistic about company incorporation activity in 2012.”
A full copy of the report can be viewed at http://www.guidemesingapore.com/docs/singapore-company-registrations-2011q4.pdf