If you intend to register a Singapore company, consider using this tool to help you determine the appropriate Singapore Standard Industrial Classification for your business.
Singapore (PRWEB) April 23, 2013
AsiaBiz Services, a Singapore company registration consultancy, recently launched a free SSIC Search tool through its website. The free online tool allows users to search for the specific Singapore Standard Industrial Classification (SSIC) code that corresponds to their business activities.
Analysis from AsiaBiz Services indicates that SSIC codes are a statistical tool designed primarily to facilitate data collection that requires the classification of economic activities. This includes, among others, surveys, censuses, administrative archives, and other related records.
In general, the SSIC is a system by which various government agencies categorize businesses in the context of a broad range of information; e.g. national income, demographic data, social data, or labour statistics, etc.
To remain relevant to changes in Singapore’s economic landscape, such as the emergence of new economic activities, the SSIC is amended regularly. In its current version, the SSIC adopts the basic framework and principles of the International Standard Industrial Classification of All Economic Activities, Fourth Revision (ISIC Rev.4).
Explaining further, AsiaBiz Services Head of Taxation James Nuben said, “The SSIC code classifies businesses according to the principal economic activities they engage in. All entrepreneurs must provide an accurate SSIC code when starting a Singapore company. This is an important step in the registration process.”
He continued, “However, we realize that the SSIC system may be confusing to novice entrepreneurs, especially to those who are not familiar with this framework. To help new investors find the right code for their business, we created a free online search tool that will allow users to easily find their SSIC code by typing a range of keywords related to their principal economic activity.”
“We invite everyone to try our SSIC Search tool to see how easy it is to find the right SSIC code. If you intend to register a Singapore company, consider using this tool to help you determine the appropriate Singapore Standard Industrial Classification for your business,” he added.
To try out the new AsiaBiz Services SSIC Search tool, please go to http://www.asiabizservices.com/tools/ssic-codes.
ABOUT ASIABIZ SERVICES
Asiabiz Services is a Singapore-based consultancy that offers business solutions for both local and foreign professionals, investors and entrepreneurs. Our areas of expertise include Singapore company incorporation, offshore company setup, accounting, taxation and other related corporate services. Asiabiz Services also provides Singapore work visa and immigration services for foreign professionals wishing to relocate to Singapore.
120 Telok Ayer Street, Singapore 068589