Written reply to PQ on comparison of rental costs relative to revenue and gross operating surplus in retail and f&b sectors between SMEs and non-SMEs from 2019 to 2024

Question:

Mr Mark Lee: To ask the Deputy Prime Minister and Minister for Trade and Industry for the retail trade and food and beverage sectors from 2019 to 2024, whether the Government has data on (a) how rental costs compare relative to revenue and gross operating surplus; (b) whether these indicators differ materially between small and medium enterprises (SMEs) and non-SMEs; and (c) whether rental pressures are assessed to be concentrated in specific property types or locations. 

Written Answer by Prime Minister and Minister for Trade and Industry Gan Kim Yong

1.                  Tables 1, 2 and 3 below present data on the total annual rental cost, operating revenue and gross operating surplus of the retail trade and food & beverage services sectors from 2019 to 2024. A breakdown of the data by SMEs and non-SMEs is not available. 

2.                  Retail trade and food & beverage services firms located in properties with attributes such as proximity to key transport nodes or estates with high population density may face higher rents.

Table 1: Total Annual Rental Cost, $ Million

^{Source: Department of Statistics}

Table 2: Total Annual Operating Revenue, $ Million

^{Source: Department of Statistics}

Table 3: Total Annual Gross Operating Surplus, $ Million

^{Source: Department of Statistics}