News Stop: Startup Enterprise Survey of Singapore

From the Action Community for Entrepreneurship (ACE) website, the inaugural DP Information – ACE STEPS Survey has released some results that discuss the landscape of the startup community in Singapore.

From the ACE website, here are the excerpts on the results of the survey:

This survey was initiated by DP Information Group, the holding company of DP Bureau Pte Ltd. DP Bureau receives comments and feedbacks through its bureaus which sees entrepreneurs on a daily basis. Entrepreneurs approach the bureau for its one-stop centre for practical advice and resources on starting a business, licensing, banking/ financing, business tools, legal and corporate services, outsourcing of registered business address and networking. Having served more than 60,000 SMEs/startups since the company started in 2002, it is timely to take this opportunity to understand the startup community even better.

The STEPS survey was conducted in the 4th Quarter of 2006 and the survey findings reflected that entrepreneurship is thriving in Singapore, with 63% of startup companies managing to make a profit by their third year, of which 36% are in the black by their first year of operations and the other 27% achieve it in the next two years.

You can find the link to the page where the report is published.

It will also be interesting to look at the results of this survey together with the Global Entrepreneurship Monitor report 2007 produced by the NUS Entrepreneurship Centre.

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