28 Nov '11, 11pm

Entrepreneurship in Singapore hit by global turmoil

SINGAPORE - Entrepreneurship in Singapore has taken a hit from the global economic turmoil. Numbers provided to MediaCorp by a consultancy helping start-ups reveal a slide in company registrations in the latest quarter. A total of 13,934 companies were registered in the third quarter of this year, down 3.6 per cent from 14,455 in the second quarter, Janus Corporate Solutions said, using data from the Accounting and Corporate Regulatory Authority. Between July and September, about 65 per cent of new companies were set up by Singaporeans, while 23 per cent were registered by foreigners and 12 per cent had both local and foreign shareholders. Janus said the percentage of firms registered by foreigners could increase if EntrePass, or Entrepreneur Pass, work permit and renewal regulations were relaxed. "It's already a problem setting up the business and getting it started. Befo...

Full article: http://www.todayonline.com/Business/EDC111129-0000079/Ent...

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