How to select the right ACRA SSIC code for your business in Singapore

If you plan on registering a business in Singapore, one important step you’ll need to take is to discover the ACRA SSIC code¹ based on your specific business type and activity. You’ll be asked for this SSIC code when you register your business with ACRA², and you’ll need to update business records if you pivot and take your business in a different direction.

This guide to using an ACRA SSIC search to check the right code for your business covers everything you need to know.

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What is the SSIC code?

A SSIC code is a Singapore Standard Industrial Classification code which corresponds to your business activity.

The SSIC coding method is based on the International Standard Industrial Classification of All Economic Activities (ISIC), but with modifications to meet the specific needs of Singapore businesses. SSIC code lists are managed by the Department of Statistics (DOS), and reviewed on an ongoing basis³.

Your SSIC code will consist of up to 5 numeric digits, and can be found using ACRA SSIC search tools, or by looking through the full DOS SSIC code list.

SSIC code lists are hierarchical.

This means that the list is broken down into 21 primary categories each of which gets a letter of the alphabet. These are economic activity sections which are intended to be very broad - manufacturing or retail for example.

The list then gets more refined, with different subsections within that economic activity being broken down into smaller and smaller groupings, until you can make a pretty fine distinction between one type of business activity and another.

To give an example, let’s say you’re registering a cafe.

In this case, your SSIC code comes under the alphabetic category I: Accommodation and food service activities.

Within this category, there is a further division of activities which includes the following hierarchy:

• 56 Food and beverage service activities
• 561 Restaurants, cafes, food courts, food kiosks and bars
• 5611 Restaurants and Cafes
• 56112 Cafes

As you can see, the hierarchy keeps on adding numbers to the code until it reaches the closest possible definition to your business activity - a cafe. Luckily, the ACRA SSIC search tools make this process very easy to follow with handy search functions to guide you.

SSIC codes are used for lots of reasons, but government agencies use them to manage statistical analysis of the economic environment, to determine any licence you may need to trade, and so on.

Why having an SSIC Code is important

You must have an SSIC code as a Singapore business owner for the following things:

• You’ll need your SSIC code when you register your business with ACRA
• You may need your ACRA SSIC code for seeking business licences
• The issue of grants and tax incentives may require you to identify your business by SSIC code
• You’ll be asked for your SSIC code when you apply for a loan
• You can use your SSIC code for identifying competitors when building your business plan

Factors to consider when choosing your SSIC code

Choosing your SSIC code might be very straightforward - but it’s not always that easy. Let’s take the cafe example from earlier. What if in my cafe I also sell some gift products? Should I classify myself as a cafe or a gift shop?

It’s helpful to note that the SSIC code you choose should reflect your company’s principal economic activities - that is the main area in which you make money.

Let’s assume my cafe makes more money from food and beverage sales than from the gift stand - that means that picking the cafe SSIC code is the correct choice.

You may also have a secondary activity, such as the cafe gift stand, which is carried out by your company, but which isn’t the main focus, as well as one or more ancillary activities. These are not necessary when selecting your SSIC code.

How to check your SSIC code

To check your SSIC code you’ll need to take the following steps:

1. Visit the ACRA Bizfile+ site and select the SSIC code search⁴
2. Enter a keyword to describe your business to generate SSIC code ideas
3. Check whether your business activity is reflected in any of the SSIC codes suggested
4. If you’re not happy with the options generated, try a keyword variation
5. Once you have the SSIC code which is closest to your primary business activity, you’re good to use it to register your business

If you struggle, you can also download the full SSIC code listing from the DOS website, or you can reach out to ACRA for help.

How to update your SSIC code

You will need to update the SSIC code your business is registered under if you change the primary business activity you’re engaged in. So, if my cafe gift stall really takes off and becomes my primary money spinner it’s time to update ACRA and let them know I’m running a retail store now instead of a cafe.

You can update your SSIC code on Bizfile+. Here’s what to do⁵:

1. Log into Bizfile+ with Singpass
2. Navigate to the option to change company information
3. Follow the prompts to enter the new SSIC code and the date of the change

There’s no ACRA fee to change your SSIC code and filling in the form should only take 4 to 15 minutes. ACRA processing times are usually about 3 days but can be longer if a review of your information is needed.

Conclusion

You’ll need your SSIC code to register a business in Singapore, and may also be asked for it when applying for loans or grants for example. This means it’s crucial you find the best SSIC code to reflect your business activity, and keep your ACRA SSIC code up to date on Bizfile+.

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