Published January 2021

Singapore Business Statistics Annual Report (2020)

Resilience Through the Pandemic

The COVID-19 pandemic brought Singapore's longest post-independence expansion to an abrupt halt in 2020. A two-month circuit breaker from April to June shuttered non-essential businesses and compressed domestic activity. The government's swift and substantial fiscal response, including four supplementary budgets, cushioned the impact. New business registrations remained resilient in technology, logistics, and healthcare sectors as entrepreneurs adapted to the new operating environment.

Chapter 1

Annual Highlights

Key headline figures for the year.

63,480

New Registrations (2020)

Source: ACRA registry data

+3.1%

vs 2019 Registrations

Compared to 2019

-3.6%

GDP Growth (2020)

Cautious and resilient

47.3% of 2020 cohort still active today

Chapter 3

Top 10 Industries in 2020

The most popular industry sectors for new business registrations in 2020.

1.Wholesale and Retail Trade
19,297
2.Professional & Technical Services
10,197
3.Information Services
5,993
4.Financial and Insurance
5,749
5.Accommodation & Food Services
3,397
6.Transportation and Storage
2,905
7.Other Service Activities
2,820
8.Construction
2,567
9.Manufacturing
2,446
10.Admin & Support Services
2,279

Top 10 industry sectors by new business registrations in 2020. Sectors derived from SSIC classification codes. Analytical findings by SGP Directory based on ACRA entity registration records.

Chapter 4

Types Distribution in 2020

Breakdown of new business registrations by entity type in 2020.

Exempt Private Company Limited by Shares32,93551.9%
Sole Proprietorship17,33327.3%
Private Company Limited by Shares8,60213.6%
Limited Liability Partnership2,0573.2%
Partnership1,6122.5%
Other9411.5%

Breakdown of new entity registrations by entity type in 2020. Analytical findings by SGP Directory based on ACRA entity registration records.

Chapter 5

Monthly Registrations in 2020

Month-by-month breakdown of new business registrations in 2020.

Jan5,082Feb4,515Mar4,969Apr3,768May3,804Jun5,563Jul6,100Aug6,210Sep6,047Oct6,384Nov5,633Dec5,405

New entity registrations by calendar month in 2020. Analytical findings by SGP Directory based on ACRA entity registration records.

Chapter 6

Top Business Addresses in 2020

The most popular buildings and streets for new business registrations in 2020.

Top 10 Buildings

1.INTERNATIONAL PLAZA
1,518
2.PAYA LEBAR SQUARE
1,477
3.SINGAPORE BUSINESS FEDERATION CENTER
1,028
4.MIDVIEW CITY
916
5.VISION EXCHANGE
814
6.CENTRO BIANCO
784
7.SUNTEC TOWER ONE
460
8.PENINSULA PLAZA
413
9.HONG LIM COMPLEX
365
10.REPUBLIC PLAZA
352

Top 10 Streets

1.ROBINSON ROAD
2,314
2.PAYA LEBAR ROAD
1,625
3.ANSON ROAD
1,586
4.NORTH BRIDGE ROAD
1,233
5.BEACH ROAD
1,068
6.CECIL STREET
971
7.SIN MING LANE
916
8.UPPER PAYA LEBAR ROAD
852
9.RAFFLES PLACE
817
10.VENTURE DRIVE
814

Top buildings and streets by number of new business registrations in 2020. Analytical findings by SGP Directory based on ACRA registered address data.

Chapter 7

Top Business Activities in 2020

The most common specific business activities among new registrations in 2020.

1.Wholesale trade of a variety of goods without a dominant product
4,919
2.Holding companies of firms engaged in non-financial and insurance activities
3,271
3.Management consultancy services
3,257
4.Development of software and applications (except games and cybersecurity)
1,897
5.Retail sale of clothing for adults
1,794
6.Information technology consultancy (except cybersecurity)
755
7.Restaurants
720
8.Training courses n.e.c.
538
9.General contractors for building construction and major upgrading works
470
10.Operators of food courts, hawker centres, coffee shops and canteens (with mainly food and beverage income)
442

Top 10 specific business activities (SSIC codes) among new registrations in 2020. Analytical findings by SGP Directory based on ACRA entity registration records.

Chapter 8

Methodology & References

Data sources, scope, and methodology notes.

Data sources

Scope and coverage

This report covers entities registered in the ACRA public dataset as at the publication date. It includes all entity types available in the open dataset (companies, businesses, limited liability partnerships, and similar). Entities struck off or dissolved before the snapshot date are excluded from active counts. Where SGP Directory figures differ from ACRA's official totals, SGP Directory figures are presented as analytical findings and ACRA remains the authoritative source.

Licence

Source data is published by ACRA, the Accounting and Corporate Regulatory Authority of Singapore. Analytical output published by SGP Directory · sgpdirectory.com.

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