Published January 2023

Singapore Business Statistics Annual Report (2022)

Full Reopening, Rising Headwinds

Singapore achieved full economic reopening in 2022 after two years of pandemic restrictions, with borders fully open and business travel restored. Against this positive backdrop, headwinds from the global inflation surge, the Russia-Ukraine conflict, and the sharpest Federal Reserve rate-hike cycle in four decades tempered growth. Business formations remained solid, driven by professional services and trade sectors capitalising on Singapore's restored connectivity.

Chapter 1

Annual Highlights

Key headline figures for the year.

63,991

New Registrations (2022)

Source: ACRA registry data

-1.8%

vs 2021 Registrations

Compared to 2021

4.0%

GDP Growth (2022)

Steady

59.4% of 2022 cohort still active today

Chapter 3

Top 10 Industries in 2022

The most popular industry sectors for new business registrations in 2022.

1.Wholesale and Retail Trade
14,635
2.Professional & Technical Services
10,606
3.Information Services
7,820
4.Financial and Insurance
7,640
5.Accommodation & Food Services
3,418
6.Construction
3,403
7.Other Service Activities
2,911
8.Transportation and Storage
2,623
9.Admin & Support Services
2,349
10.Manufacturing
2,284

Top 10 industry sectors by new business registrations in 2022. Sectors derived from SSIC classification codes. Analytical findings by SGP Directory based on ACRA entity registration records.

Chapter 4

Types Distribution in 2022

Breakdown of new business registrations by entity type in 2022.

Exempt Private Company Limited by Shares35,14754.9%
Sole Proprietorship14,87423.2%
Private Company Limited by Shares10,60016.6%
Limited Liability Partnership1,2772.0%
Partnership1,2612.0%
Other8321.3%

Breakdown of new entity registrations by entity type in 2022. Analytical findings by SGP Directory based on ACRA entity registration records.

Chapter 5

Monthly Registrations in 2022

Month-by-month breakdown of new business registrations in 2022.

Jan5,065Feb4,700Mar5,639Apr5,423May5,134Jun5,346Jul5,405Aug5,840Sep5,643Oct5,091Nov5,618Dec5,087

New entity registrations by calendar month in 2022. Analytical findings by SGP Directory based on ACRA entity registration records.

Chapter 6

Top Business Addresses in 2022

The most popular buildings and streets for new business registrations in 2022.

Top 10 Buildings

1.PAYA LEBAR SQUARE
1,873
2.INTERNATIONAL PLAZA
1,506
3.SINGAPORE BUSINESS FEDERATION CENTER
1,338
4.MIDVIEW CITY
692
5.VISION EXCHANGE
557
6.ROBINSON 112
554
7.SUNTEC TOWER ONE
547
8.PENINSULA PLAZA
471
9.HIGH STREET CENTRE
462
10.REPUBLIC PLAZA
458

Top 10 Streets

1.ROBINSON ROAD
3,243
2.PAYA LEBAR ROAD
2,004
3.NORTH BRIDGE ROAD
1,579
4.ANSON ROAD
1,575
5.CIRCULAR ROAD
1,468
6.BEACH ROAD
1,271
7.CECIL STREET
1,041
8.RAFFLES PLACE
905
9.TEMASEK BOULEVARD
859
10.SIN MING LANE
692

Top buildings and streets by number of new business registrations in 2022. Analytical findings by SGP Directory based on ACRA registered address data.

Chapter 7

Top Business Activities in 2022

The most common specific business activities among new registrations in 2022.

1.Holding companies of firms engaged in non-financial and insurance activities
4,923
2.Wholesale trade of a variety of goods without a dominant product
4,149
3.Management consultancy services
3,648
4.Development of software and applications (except games and cybersecurity)
2,498
5.Information technology consultancy (except cybersecurity)
1,188
6.Restaurants
876
7.Online marketplaces operating on a fee or commission basis for goods and food sold by third-party
764
8.General contractors for building construction and major upgrading works
708
9.Public relations, marketing and brand consultancy services
546
10.Renovation contractors
484

Top 10 specific business activities (SSIC codes) among new registrations in 2022. 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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