Business formation in Singapore expected to spike in 2H17: Hawksford

SINGAPORE (Sept 5): A total of 15,855 new businesses were formed in Singapore over the second quarter of 2017 alone, according to data from the Singapore Commercial Credit Bureau (SCCB) as presented in Hawksford Singapore’s latest research report, Singapore New Business Trends Report Q2 2017.

Although this figure represents a 1.5% and 10.1% decline in business formation q-o-q and y-o-y, respectively, the corporate services firm believes it signals an upswing in business sentiment, which it expects to continue well into the second half of the year.

The majority of these new companies formed were in the lowest share capital bracket of the study of less than $10,000.

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