Chart of the day: Older firms are more likely to have corporate websites

Only three out of 10 firms who are aged 5 years or younger have websites.

This chart from the Singapore Department of Statistics (Singstat) shows how many Singaporean firms have corporate websites tallied by their age.

The chart shows the majority of firms that were more than 10 years old in 2021 had corporate websites. On the other hand, only 31% of enterprises aged five years or less had a corporate website.

“This implied that younger enterprises may depend on social media or third-party platforms to engage their consumers online, which is not in the current project scope,” Singstat said.

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Retail Trade industry, enterprises aged five years or less had a higher share of corporate websites with revenue-generating features as compared to enterprises in other age groups.

This suggested that while younger enterprises in the Retail Trade industry were less likely to have a corporate website, those with one were likely to have websites that are revenue-generating (i.e. allow for online purchases). However, this was not observed for other industries.

For the Accommodation industry, older enterprises tended to have revenue-generating websites compared to their younger counterparts. As for the Food & Beverage Services industry, the share of revenue-generating websites also increased with age but there were many firms aged 30 years and over which did not use corporate websites to generate revenue.