Published January 2022

Singapore Business Statistics Annual Report (2021)

The V-Shaped Recovery

Singapore rebounded sharply in 2021 as vaccination programmes enabled a phased easing of restrictions and restored business confidence. The economy recorded its fastest expansion in over a decade, led by finance, technology, and trade-related services. Digital transformation initiatives accelerated by the pandemic translated into a surge in new business formations, particularly in technology-adjacent professional services and e-commerce.

Chapter 1

Annual Highlights

Key headline figures for the year.

65,150

New Registrations (2021)

Source: ACRA registry data

+2.6%

vs 2020 Registrations

Compared to 2020

10.1%

GDP Growth (2021)

Optimistic

52.9% of 2021 cohort still active today

Chapter 3

Top 10 Industries in 2021

The most popular industry sectors for new business registrations in 2021.

1.Wholesale and Retail Trade
16,129
2.Professional & Technical Services
10,051
3.Financial and Insurance
7,848
4.Information Services
7,149
5.Accommodation & Food Services
3,896
6.Construction
3,199
7.Other Service Activities
3,024
8.Transportation and Storage
2,861
9.Manufacturing
2,642
10.Education
2,225

Top 10 industry sectors by new business registrations in 2021. Sectors derived from SSIC classification codes. Analytical findings by SGP Directory based on ACRA entity registration records.

Chapter 4

Types Distribution in 2021

Breakdown of new business registrations by entity type in 2021.

Exempt Private Company Limited by Shares33,85352.0%
Sole Proprietorship16,48425.3%
Private Company Limited by Shares10,38815.9%
Limited Liability Partnership1,8352.8%
Partnership1,4952.3%
Other1,0951.7%

Breakdown of new entity registrations by entity type in 2021. Analytical findings by SGP Directory based on ACRA entity registration records.

Chapter 5

Monthly Registrations in 2021

Month-by-month breakdown of new business registrations in 2021.

Jan5,939Feb4,577Mar6,373Apr5,811May5,064Jun5,438Jul5,559Aug5,363Sep5,368Oct5,247Nov5,343Dec5,068

New entity registrations by calendar month in 2021. Analytical findings by SGP Directory based on ACRA entity registration records.

Chapter 6

Top Business Addresses in 2021

The most popular buildings and streets for new business registrations in 2021.

Top 10 Buildings

1.SINGAPORE BUSINESS FEDERATION CENTER
1,354
2.PAYA LEBAR SQUARE
1,333
3.INTERNATIONAL PLAZA
1,230
4.MIDVIEW CITY
820
5.SUNTEC TOWER ONE
535
6.VISION EXCHANGE
433
7.REPUBLIC PLAZA
428
8.HIGH STREET CENTRE
425
9.PENINSULA PLAZA
400
10.DUO TOWER
342

Top 10 Streets

1.ROBINSON ROAD
2,785
2.PAYA LEBAR ROAD
1,485
3.NORTH BRIDGE ROAD
1,311
4.ANSON ROAD
1,291
5.BEACH ROAD
1,197
6.CIRCULAR ROAD
1,135
7.CECIL STREET
1,032
8.RAFFLES PLACE
846
9.SIN MING LANE
820
10.TEMASEK BOULEVARD
815

Top buildings and streets by number of new business registrations in 2021. Analytical findings by SGP Directory based on ACRA registered address data.

Chapter 7

Top Business Activities in 2021

The most common specific business activities among new registrations in 2021.

1.Holding companies of firms engaged in non-financial and insurance activities
4,826
2.Management consultancy services
3,498
3.Wholesale trade of a variety of goods without a dominant product
3,466
4.Development of software and applications (except games and cybersecurity)
2,502
5.Retail sale of clothing for adults
1,168
6.Information technology consultancy (except cybersecurity)
956
7.Restaurants
785
8.General contractors for building construction and major upgrading works
612
9.Renovation contractors
511
10.Operators of food courts, hawker centres, coffee shops and canteens (with mainly food and beverage income)
507

Top 10 specific business activities (SSIC codes) among new registrations in 2021. 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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