Time to Start New Business fell 40% to 1.50 days in Singapore in 2018

Time to Start New Business (days)
Economy | Singapore | May 17, 2019
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Excel Sheet

Time to start new business reached 1.50 days in 2018 in Singapore, according to the National Statistical Office. This is 40 % less than in the previous year.

Historically, time to start new business in Singapore reached an all time high of 8.00 days in 2003 and an all time low of 1.50 days in 2018. When compared to Singapore's main peers, time to start new business in Indonesia amounted to 19.6 days, 13.5 days in Malaysia, 31.0 days in Philippines and 4.50 days in Thailand in 2018.

Singapore has been ranked 171st within the group of 173 countries we follow in terms of time to start new business, 7 places behind the position seen 10 years ago.

The time required to start a business is the number of calendar days needed to complete the procedures to legally operate a business.

Time to Start New Business Unit 2010 2011 2012 2013 2014 2015 2016 2017 2018
Australia days 2.50 2.50 2.50 2.50 2.50
Cambodia days 102 101 101 87.0 99.0
China days 33.0 32.4 29.4 29.4 26.9
Indonesia days 48.0 75.5 52.5 47.8 24.9
Laos days 88.0 88.0 88.0 187 174
Malaysia days 9.50 9.50 7.50 7.50 23.5
Myanmar days ... ... 77.0 77.0 77.0 16.0 14.0
Philippines days 36.0 36.0 34.0 29.0 28.0
Singapore days 2.50 2.50 2.50 2.50 2.50
Taiwan days ... ... ... ... ... ... ... ... ...
Thailand days 31.0 29.5 29.5 29.5 27.5
Vietnam days 32.0 34.0 34.0 20.0 24.0