An establishment may only have one 1 Primary SIC code, which is determined by the industry classification that generates the highest revenue or value of shipments. The SIC Code lookup tool is valuable for nearly any company looking to increase revenue and profit. SIC Codes break down all of the various industries in existence into an organized classification system.
When used correctly, companies can focus their marketing efforts on the industries that generate the highest return on investment. Integrating business lists built by specific industries, increases the focus of the campaign and removes wasteful broadstroke strategies. Here are some of the popular uses:.
These codes typically end in the number "9". The NEC codes are the residual classifications that do not usually constitute homogenous primary activity groups. Therefore, for the purpose of the SIC system, they are grouped and treated as a separate industry in order to retain the homogeneity of the other industries in the group. In the official U. Government SIC Code system, there are a total of 1, codes included in the 2-digit, 3-digit, and 4-digit levels.
Government had written into the SIC Code Manual that agencies could use additional subdivisions within specific four-digit industries to further break down industries. The business activity has to be reflected correctly in ACRA records. ACRA reviews all registration documents when you register a new company. To make sure that the information is accurate and complete, some documents are sent to other government agencies. This may take up to 2 months and affect your incorporation date. Singapore Standard Industrial Classification SSIC is a four-digit number that shows local authorities what the main source of revenue is for Singaporean companies.
Singapore uses it to analyze economic activity. Traditional Bank Account. In an increasingly digital world, the way we bank is changing.
Digital banks are probably something you may have heard about while thinking of setting up your business in Singapore but wondering how they can help you run your business better.
One of the most common fundraising strategies for startups, especially in Indonesia, is to set up a Singapore holding company. But how exactly do you set up a holding company abroad?
We had three experts in tax, sales, and law present the webinar on how small business owners in Singapore and Indonesia can set up companies, digitize their business processes, and reach out to new customers. E-commerce is the way to go, with increasingly more people doing their shopping online instead of in physical shops. When you incorporate, you need to choose your financial year end date which determines when your corporate filings and taxes are due.
Read on to find out how to choose the date for your company. Singapore is one of the best countries in the world to incorporate an offshore company due to its strategic location, highly-skilled workforce and pro-business environment, making it ideal for entrepreneurs seeking to venture into the sizable Southeast Asian market.
In the last few years, it has been getting really popular for startups to create a SPV to help with the company financing, to attract investors to invest funds and receive equity when investing in the startup. Find out how to get one set up. Checklist for Starting an E-commerce Business in Singapore. There are a lot of opportunities in the region with an e-commerce business. Find out how to start your own company officially with this article. Choosing an SSIC code is one of the steps to register your company.
Find out what else you'll need. Learn crucial tips on how to save money and build a flourishing business, with real entrepreneurs sharing their own experiences.
You'll receive a verification email you'll have to open and confirm the subscription. Sign up to our newsletter for future founders and get expert advice delivered to your mailbox. Twice a month, good stuff only! As many options as you need. Leave us your details, so we can send you the codes by email. Thank you! Meanwhile, we have some helpful articles on our blog for you to check out.
Search activity by name or code. Most common SSIC code categories. DVDs, Blu-ray discs. SSIC code Processes. What does SSIC mean? Our blog. Traditional Bank Account In an increasingly digital world, the way we bank is changing. Going Beyond The Borders Digitally: From Setting Up To Selling Out We had three experts in tax, sales, and law present the webinar on how small business owners in Singapore and Indonesia can set up companies, digitize their business processes, and reach out to new customers.
The No-Nonsense Guide To Start an Online T-shirt Business E-commerce is the way to go, with increasingly more people doing their shopping online instead of in physical shops. Financial Year End FYE in Singapore When you incorporate, you need to choose your financial year end date which determines when your corporate filings and taxes are due. A Guide to Setting Up a Special Purpose Vehicle Entity In the last few years, it has been getting really popular for startups to create a SPV to help with the company financing, to attract investors to invest funds and receive equity when investing in the startup.
Checklist for Starting an E-commerce Business in Singapore There are a lot of opportunities in the region with an e-commerce business. Check out more. Get tips on how to run your business smarter Learn crucial tips on how to save money and build a flourishing business, with real entrepreneurs sharing their own experiences. Email address.
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