Large firms drive value as SMEs lead hiring

Employment is concentrated in smaller firms as value-added is concentrated in large firms.

Firms with revenue above $100m formed the largest share of total value-added at 73% and accounted for 30% of total employment in 2024, according to data from the Department of Statistics Singapore.

Businesses with revenue of $1m or less made up 21% of total employment but contributed just 3% of value-added.

Enterprises with revenue between $10m and $100m contributed 16% of value-added and 24% of total employment.

Firms earning between $1m and $10m accounted for 8% of value-added and 25% of employment, one percentage point higher than those in the $10m to $100m range.

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Department of Statistics

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