Greater number of Singapore firms expected to wind up in coming months, say experts

Business closures are expected to rise in the coming months, given that initiatives such as support schemes and debt moratoriums are tapering off.
Business closures are expected to rise in the coming months, given that initiatives such as support schemes and debt moratoriums are tapering off.ST PHOTO: GAVIN FOO

SINGAPORE - Despite the recent uptrend in business formations in Singapore, entity closures are also expected to rise in the coming months, experts said.

Around 35,400 were de-registered between January and October - lower than the average of 41,100 seen over the same 10-month period between 2015 and 2019, according to data from the Accounting and Corporate Regulatory Authority (Acra).

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