Rise in number of S'pore businesses that closed in first half of the year

Retail trade and F&B services ranked among the top three sectors that saw the biggest decline in business formations. ST PHOTO: GAVIN FOO
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SINGAPORE - Despite the worst of the Covid-19 pandemic seemingly over, more businesses decided to throw in the towel this year.

A total of 24,503 business entities ceased operations in the first half of this year, a 3 per cent increase from the same period last year, the Accounting and Corporate Regulatory Authority records showed.

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