Registration and Closure of Social Enterprises in Recent Years

70 Ms Ng Ling Ling asked the Minister for Social and Family Development in each of the last three years, whether the Ministry has data on (i) the number of new social enterprises that have been registered with the Singapore Centre for Social Enterprise (raiSE) (ii) the number of social enterprises that have been closed and deregistered and (iii) the number of social enterprises that have been deregistered due to financial hardship to sustain the social enterprises.

Mr Masagos Zulkifli B M M: The Singapore Centre for Social Enterprise (raiSE) is a membership body. Social enterprises are not required to be a raiSE member. The number of new social enterprises (SEs) registered with raiSE each year from FY2020 to FY2022 were around 130, 110 and 70 respectively.

Based on a check with ACRA, around 60 SEs that were formerly raiSE members have deregistered and closed over the past three years, SEs are not required to provide reasons for their deregistration.

I would like to add that a vibrant social enterprise ecosystem like any enterprise entails both a healthy number of entrants, as well as a healthy number of exits. This is how the talent and efforts of the ecosystem can be directed towards the most impactful interventions.