Changing Your Secondary Business Activity in Singapore

Running a small business in Singapore often means adapting to new opportunities and evolving market demands. Whether you’re expanding into a new product line or offering additional services, you might need to update your business activities officially. One key area to review is your secondary activity, especially if your business is shifting focus.

This guide covers what secondary activity means, why updating it is important, and how to go about changing it—something often managed as part of corpsec services in Singapore.

1. What Is a Secondary Activity?

Your primary activity describes your company’s main revenue-generating operations. The secondary activity, on the other hand, refers to other business functions your company also carries out but that aren’t your core focus.

Both primary and secondary activities are classified under Singapore’s SSIC (Singapore Standard Industrial Classification) codes and must be declared to the Accounting and Corporate Regulatory Authority (ACRA).

For example, if you run an online store (primary activity) and also provide digital marketing services (secondary activity), both need to be recorded with the relevant SSIC codes when your company is registered with the Accounting and Corporate Regulatory Authority (ACRA).

2. Why You Might Need to Change Your Secondary Activity

Small businesses often evolve. Reasons to update your secondary activity include:

• Adding a new product line or service

• Expanding into a different market segment

• Pivoting business direction post-pandemic

• Meeting investor or regulatory requirements

Changing your secondary activity ensures that your business profile remains accurate and reflects your current operations. This is especially important for compliance and when applying for grants or licenses.

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3. Steps to Change Your Secondary Activity

Changing your business activity in Singapore is a straightforward process through ACRA’s BizFile+ portal. Here’s how:

3.1 Review Your Current SSIC Codes

Check your current SSIC codes to ensure they still reflect your business. The latest version of the SSIC list is available on Singapore’s Department of Statistics website.

3.2 Identify the New SSIC Code

• Search for the most appropriate code that fits your new or expanded activity.

• Make sure it’s listed under the latest SSIC list to avoid delays or rejections.

3.3 File the Changes with ACRA

• Log in to BizFile+ using your CorpPass.

• Select “Change in Company Information.”

• Update your secondary business activity and submit.

3.4 Notify Relevant Parties

If the change affects licensing, banking, or tax matters, inform the relevant government agencies or institutions. Some updates may also require notifying the Inland Revenue Authority of Singapore (IRAS) if your tax obligations change.

4. Things to Keep in Mind

• You can only select two business activities: one primary and one secondary.

• Ensure your new activity aligns with any licences or permits your business holds.

• The update must be lodged by the company officer or authorised person (e.g., a corporate secretary).

• If you’re unsure which SSIC code fits best, professional corpsec services can assist in making the right selection.

When to Seek Professional Help

While it’s possible to update your SSIC codes independently, many Singapore small businesses work with corporate secretarial (corpsec) services to ensure everything is correctly filed. Professional support can help:

• Select accurate SSIC codes

• Avoid delays or rejections

• Ensure filings align with other company documents

• Stay updated with any regulatory changes

Summary

Changing your secondary business activity is a simple yet crucial part of keeping your company records current and compliant. Whether you’re adjusting to customer needs, tapping into a new market, or expanding your offerings, keeping your SSIC codes up to date ensures transparency with regulators and better reflects your growth as a Singapore small business.

Changing your Company Secretary is easy with Counto

Worried about the complexities of switching corporate secretaries? Let Counto take the reins. Once we receive the current corporate secretary’s resignation letter, we’ll handle every aspect of the transition seamlessly. With Counto, you’re not just getting a service – you’re gaining a partner dedicated to your company’s smooth operations and compliance. Speak to us directly on our chatbot, email [email protected], or use our  contact form to get started.