Over half of Singapore startups have yet to report gains

Almost 1 in 4 have yet to record any revenue.

If the new study by the National University of Singapore’s Entrepreneurship Centre is anything to go by then it seems like Singapore startups are finding it hard to record bottom line gains.

The study revealed that almost one in four or 24% of startups in Singapore has not recorded any revenue for the past year.

The study also noted that 29% are revenue-positive but cashflow-negative. This points out to 53% of the startups not getting any net profits.

Interestingly, 23% have achieved positive cashflow and the remaining 24% are at the self-sustaining growth stage, meaning the cashflow generated by the firm is sufficient to sustain their future growth.

Meanwhile, overall sales growth of start-ups for the past three years averaged at around 44.9%. As many as 1 in 4 young start-ups has achieved more than 100% annual sales growth over the last 3 years while only 1 in 10 mature start-ups are able to maintain more than 100% sales growth.