Fewer Singapore businesses wound up last year in spite of pandemic

The shutters came down on 43,335 business entities last year. PHOTO: ST FILE
New: Gift this subscriber-only story to your friends and family

SINGAPORE - The pandemic dealt a fatal blow to many businesses last year yet the overall number of firms that went belly up defied expectations to fall to its lowest level in five years.

The shutters came down on 43,335 business entities last year, notably fewer than the 47,504 in 2019, noted Accounting and Corporate Regulatory Authority (Acra) data.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.