BT-ACRA research elucidates Singapore entrepreneurship trends

by Andrew Chen A new study by the Business Times and the Accounting and Corporate Regulatory Authority of Singapore (ACRA) has revealed salient findings relating to Singapore entrepreneurship over the past decade (between 2000 and 2009). The study, which encompasses 95,838 live Singapore-incorporated companies, explores the differences between local and foreign directorship and the demographics behind it.

According to the research, there is a very strong correlation between the age of local directors and companies. Although there has been an uptrend in youth entrepreneurship in recent years following Spring Singapore’s initiatives, many Singaporean adults aged 18 – 40 prefer to garner experience and capital before incorporating a Singapore company. Therefore, 68% of local directors were 40 years and older while the remaining 32% were under 40 years old. However, the higher proportion of older directors could be attributed to Singapore’s increasingly ageing population. Additionally, directors tended to grow with their companies. The study revealed that more than half (59%) of 1-year-old companies were owned by directors aged above 40 years old. At the 10-year mark, 86% of companies had directors aged above 40 years. Analysis by GuideMeSingapore.com shows that this trend indicates that local entrepreneurs gain confidence and longevity through taking ownership of their companies.

To read the full article, please visit: http://www.guidemesingapore.com/blog-post/entrepreneurship/bt-acra-research-elucidates-spore-entrepreneurship-trends

Created on Nov 7th 2011 05:27. Viewed 130 times.

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