Hawksford reports new business formation figures for Singapore in Q415

Source: Hawksford report. Shareholder's country of origin. 

The number of companies formed in Singapore dropped in Q415, both quarter on quarter and year on year, but foreign investors and enterprises have continued to establish their enterprises or subsidiaries in the island state even in an uncertain economy, notes Hawksford, an international provider of corporate, private client and fund administration services.

The fall is within the standard range observed for fourth quarters, Hawksford said. Private limited companies continued to be the dominant type, accounting for 48.8% share of total business formation. The quarter saw 1,421 non-exempt private limited companies formed, reflecting Singapore's reputation as a pro-business nation. A total of 16,612 businesses were formed in Q415, against 20,540 businesses in Q414, and 17,608 businesses in Q315. According to the World Bank, 38,306 new limited liability businesses were set up in 2014.

Jacqueline Low, COO of Hawksford Singapore, said: "The dip registered in the numbers for the quarter is something usual, it is in line with the market behaviour for the last quarter of a year. The numbers match the final quarter averages recorded in previous years, excluding 2014. Overall 2015 has been a fairly good year in terms of business registrations."

The share of foreign-held companies remained at 35% in Q415, staying constant against 2014. Foreign individual shareholders made up 28% of the pie over the same period, with individuals from India, China and Malaysia dominating. 

Low added: "Singapore continued to attract foreign companies, investors and entrepreneurs because of its strong business fundamentals and its strength as a financial and trade hub. However we should also take note that it is not insulated from the global economic conditions."

Interested?

Read the Q4 2015 Singapore Business Formation Statistics Report (PDF)

View the World Bank lists on the number of new limited liability businesses between 2011 and 2014