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Business formation to stay subdued, cessation to pick up
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Janice Heng
Published Fri, Jun 5, 2020 · 09:50 PM
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Singapore
NEW business formation is expected to stay subdued, while cessations may pick up in the coming months as the Covid-19 pandemic continues to take a toll, said Senior Minister of State for Trade and Industry Chee Hong Tat in Parliament on Friday.
In April, about 3,800 business entities were formed, almost a third lower than the annual average of 5,500 in the same month from 2015 to 2019.
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