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Analysis of Business Registrations in Singapore (2011-2023)

Note: These reports were automatically generated via AI. Conclusions drawn may be in-accurate.

About this report

Author:
Citizen Insights AI
Reporting agency:
Inland Revenue Authority of Singapore
Last updated:
September 4, 2024
Data Source:
data.gov.sg

What this data tells us

Key Insight

The number of registered businesses in Singapore has shown a consistent upward trend from 2011 to 2023, with a particularly significant increase in Corporate entities. While Sole-Proprietorships and Partnerships also grew, their rates of growth were considerably lower than that of Corporate entities. This suggests a shift towards larger, more formal business structures in Singapore's economy.



Small Interesting Points of Note

The number of 'Others' type entities also saw growth, suggesting diversification beyond traditional structures. The consistent growth despite potential economic fluctuations hints at a resilient business environment in Singapore.



Methodology

  • Data was sourced from the provided JSON API response from data.gov.sg.
  • The 'no_of_businesses' field was converted to numerical format for analysis.
  • Data was aggregated yearly to observe trends in business registration numbers for different entity types.
  • Trends were assessed by observing the change in business numbers year-over-year.
  • No anomalies were immediately apparent in this particular dataset. Further investigation might reveal anomalies using more advanced statistical analysis.


Footnotes

1No footnotes required for this dataset.