Net business formation in first 9 months 28% below average in recent years

Singapore

IN THE first nine months of 2019, net formation of business entities has been about a quarter lower than the average in recent years, Senior Minister of State for Trade and Industry Chee Hong Tat said in response to a parliamentary question on Tuesday.

Net formation - the number of new entities formed, less the number which ceased - was about 9,900 for the first nine months of the year, 28 per cent less than the average of 13,800 for the same period over the years 2014 to 2018.