Trade and finance are two sectors that appear to be consistently doing well in terms of new company formations over the last quarter.
(PRWEB) April 7, 2011
http://www.GuideMeSingapore.com has unveiled its Singapore Company Incorporation Statistics Report for March 2011. It is the latest in the monthly ‘Singapore Company Registration Statistics’ series that was launched by the business web-portal in September last year. The report provides statistical data on company incorporation in Singapore for March 2011. It also discusses the profile of newly formed companies, the top industries showing maximum company formation activity, and the top investing countries in Singapore for the month of March as well as for Q1 2011.
Key highlights of the report include:
- There were a total of 5,415 business registrations in Singapore during March 2011 indicating a 36% increase as compared to February 2011.
- Exempt private limited companies (i.e. companies with less than 20 shareholders and whose all shareholders are individuals) were the most popular business entity type during Q1 2011, followed by sole-proprietorships and private limited companies.
- There was a 41% increase in the number of newly registered exempt private limited companies from February to March 2011 while private limited companies grew by about 30%. There was a 23% increase in the number of limited liability partnership formations. Sole-proprietorships and limited liability partnerships registered a 28% and 42% gain respectively.
- More than half (65%) of the companies incorporated in March 2011 had 100% local shareholding.
- Majority of the companies registered during Q1 2011 were 100% locally owned.
- Maximum company incorporation activity for Q1 2011 was noted in industries such as wholesale trade, financial services, and management consultancies.
- Retail trade, F&B, IT, construction, and education were among the top 10 industries to have recorded high company incorporation activity during Q1 2011.
- Foreign companies and entrepreneurs from the West as well as from the Asia-Pacific region chose to incorporate a company in Singapore during March 2011.
- The British Virgin Islands, UK, USA, Cayman Islands, Netherlands, Hong Kong, Malaysia, India, China, Australia, Japan and Bangladesh were among the top investing countries in Singapore during Q1 2011.
The latest Singapore company formation figures is an encouraging sign indicating that more individuals are taking the entrepreneurial route.
Commenting on the report, Ms. Jacqueline Low, Director of Singapore company registration agency Janus Corporate Solutions said, “Judging by the ownership structure of the newly formed companies, it appears that the Singapore government’s efforts in promoting local entrepreneurship has gained fruition. Trade and finance are two sectors that appear to be consistently doing well in terms of new company formations over the last quarter.”
According to the report, factors such as low taxes, ease of setting up a Singapore company, availability of excellent infrastructure, access to financing, the handiness of a talented workforce, and a stable political and economic climate are prompting companies and entrepreneurs from the West and Asia to use Singapore as a base to reach out to their respective markets.
“With the rapid increase in the number of business start-ups we expect a higher demand for our Singapore company incorporation services in the months to come,” added Ms. Low.
A full copy of the report can be viewed at http://www.guidemesingapore.com/docs/singapore-company-registration-report-2011-march.pdf