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Setting up a business in Singapore starts with getting the fundamentals right, and that includes selecting the correct SSIC code. Short for Singapore Standard Industrial Classification, this numerical code reflects your company’s primary business activity and is a key requirement during registration with ACRA. More than just a formality, your SSIC code determines how your business is categorised by regulators, banks, and government agencies. It affects licensing, tax considerations, eligibility for grants, and much more.
Choosing the right one means understanding your core business activity and ensuring it's reflected clearly and accurately. As your business evolves, your SSIC code can be updated, but getting it right from the start sets the tone for smooth, compliant growth.
The SSIC system serves as the national framework for categorising business activities across all industries. Whether you're opening a café, launching a fintech platform, or running a logistics firm, your SSIC code is how your business is officially recognised by regulators and government agencies.
This code isn’t just a random number; it’s a structured, hierarchical identifier that begins with broad economic sectors and narrows down into precise business classifications. For instance, a company in the food industry would fall under Section I: Accommodation and Food Services. From there, it can narrow into Division 56 for food services, Group 561 for restaurants and cafés, and finally arrive at Class 56112—Cafes.
The SSIC framework is managed and routinely updated by Singapore’s Department of Statistics, ensuring it evolves with changing industries. It’s also based on the International Standard Industrial Classification (ISIC), adapted to reflect Singapore’s unique economic landscape. The structure allows the government to monitor trends, shape policies, and assess industries accurately, while enabling businesses to comply with licensing, taxation, and incentive eligibility.
As mentioned, your SSIC code plays a pivotal role in how your business is classified, assessed, and supported by key government bodies and financial institutions.
To start, an accurate SSIC code is essential for registering your business with ACRA. It determines whether your company requires additional licences or permits, such as for operating a childcare centre, a food business, or a consultancy firm, and ensures you’re flagged for the right compliance procedures early on.
But the impact doesn’t stop there.
Government grants and tax incentives are often aligned with industry sectors. Your SSIC code influences eligibility for these schemes, and even plays a role when applying for financing, banks often use it to evaluate industry risk profiles.
It’s also a powerful tool for business intelligence. Whether you're studying your competitors or exploring new market segments, SSIC codes provide a clearer picture of your competitive landscape.
Ultimately, having the right SSIC code supports your business journey in Singapore from all angles—legal, financial, and strategic. And when paired with the right physical setup, such as a professional coworking office in Singapore, it positions your business to move forward with confidence.
Your code should reflect your primary revenue-generating activity, not just what your business does on the surface. This means looking beyond daily operations and pinpointing where the bulk of your value is created.
Start with identifying your principal activity. This is the core business function that drives the bulk of your revenue. For example, if you run a fitness studio that also sells health supplements, your main SSIC code should reflect the fitness operations, not the secondary retail arm.
Distinguishing between principal, secondary, and ancillary activities is essential. While the principal activity anchors your SSIC code, secondary activities like the sale of related products support your business model. Ancillary functions, such as payroll or cleaning services, don’t require separate classification.
Accuracy also matters.
An incorrectly selected code can delay registrations, trigger licensing issues, or affect your eligibility for grants and incentives. That’s why it’s important to stay informed—SSIC classifications evolve over time to reflect emerging industries, and the latest versions are available on the Department of Statistics website.
If you're navigating a complex business model or launching something unique, don’t hesitate to seek guidance from a professional. Experts like corporate secretaries can offer valuable advice to ensure your selection aligns with both operational realities and regulatory frameworks.
And if no existing SSIC code fully captures your activity, you have the option to submit a customised description in your Bizfile+ application. The system is designed to be both comprehensive and flexible, allowing entrepreneurs to define their path with confidence.
Finding the right SSIC code doesn’t need to feel overwhelming when you know where to start.
The most efficient route is through BizFile+, ACRA’s online portal, which offers a guided keyword search tool. Begin by entering clear, specific terms that reflect your business’s core operations, and don’t be afraid to try alternate phrasing or synonyms to widen the results.
If your business spans multiple functions, focus on the area that generates the most revenue.
Still not finding a match?
Download the full SSIC code manual from Singapore’s Department of Statistics. This resource lays out the codes in a logical structure, from broad categories to refined sub-classes, so you can explore where your business fits best.
As your business evolves, your SSIC code might need to change too.
If your company’s core activity shifts, for example, from providing services to selling products, it’s time to update your registration. The good news? The process is quick and cost-free.
Simply log into BizFile+ using your Singpass, head to the section for updating company information, and input your new code with the effective date. Most updates are processed within two weeks, although inaccurate or missing SSIC information may result in delays or rejections. There’s no fee involved, and the update ensures your business profile stays relevant.
Choosing the right SSIC code lays the groundwork for doing business, but it’s only one part of building a successful operation. From registration to launch, every step you take shapes how quickly and confidently your business can thrive.
For many foreign companies, the next immediate need is a co-sharing office in Singapore that’s not only professional and compliant but also ready for business on day one. That’s where Centennial Business Suites comes in.
We offer tailored office solutions, whether you’re looking for serviced offices or flexible coworking spaces, that support a wide range of SSIC-classified industries. More than just a workspace, our spaces are fully equipped with business essentials, from high-speed internet to professional meeting rooms and on-site support.
With Centennial Business Suites, you don’t have to worry about logistics. You get an office that mirrors the professionalism of your brand and allows you to focus entirely on growth. As your strategic partner, we help turn your business plans into real-world success, because starting right means everything.
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