Study by the Ministry of Trade and Industry shows young firms added more to net jobs than maturing, old ones for 2009-2016 period

Singapore

YOUNG firms contributed more than maturing and old firms to net job creation over the period of 2009-2016, found a study by the Ministry of Trade and Industry (MTI).

Specifically, young firms - described as those five years and below - contributed 2.7 percentage points to the average annual net employment growth of 2.3 per cent over the period. This compares with the combined contribution of maturing and old firms, or those above six years old, which came in negative at minus 0.4 percentage point.