The Singapore Growth Enterprise
Investability Sentiments Report 2025

In 3Q 2025, J.P. Wilson interviewed close to 50 Singapore growth enterprises (“SGE”) to understand their views on the 2025 investment climate and to identify the factors that, from their experience, enables a company to be investable. The intent was to capture growth-stage operators’ views on investability.

The summarised findings are as follows.

1. SGEs are net optimistic about Southeast Asia (“SEA”) but visibly more cautious about Singapore: 65.7% expected SEA deal volume to rise in 2025, against just 48.6% for Singapore.
2. The optimism on SEA is anchored on three structural narratives: China-plus-one supply-chain rerouting, a rising middle-class consumer base, and large public-infrastructure programmes.
3. Monetary easing is the most consistent macro expectation: 82.9% of SGEs expected interest rates to decrease in 2025, broadly consistent with the U.S. Federal Reserve’s September 2024 cut.
4. 4% of SGEs believed their own valuation should be higher than that of their direct competitors, reflecting a recurring gap between founder self-perception and observed exit multiples.
5. The qualitative definition of an ‘investable company’ converges on five themes: scalable business model, sustained growth, defensible margins (15%–30% net margin range cited most often), credible management, and clean governance.

This report seeks to elaborate on key finding and explores implications for business owners keen on owning an investable company, regardless of intention to seek investments.