By theend of2024, the Singapore Business Federation (SBF) will have a total of32,440members, comprising almost all of the country’s major enterprises. For many companies,“beinga member of theSBF“is not only a status, but also a legal obligation.
This article will take you on an in-depth look atthe SBFmembership system:
From mandatory“statutory members“to non-employee companies that can apply for exemptions, to different types of dues and benefits, read on to find out ifyour company should be a member, if it’s exempt, and if it’s worth it.
Note: Private message or message to getSBFmembership list
Chart/SBF Membership List – Partial
What isSBF?
The “General Representative“of Singapore Enterprises.
The Singapore Business Federation(SBF) was established in2001asa national chamber of commerce organizationunder the SingaporeBusiness Federation Act, 2001.
It is well positioned:
To represent the voice of Singapore’s business community and to promote the development of the local and international business environment.
SBF‘s membership comprises not only local enterprises, but also foreign companies, industry chambers, associations and various business organizations registered in Singapore.
AsofDecember2024,SBFhas 32,440members:
Of these, 31,931areStatutory Members;
509areAssociate / Constituent Members;
In other words, almost all Singaporean companies with the required capitalization arenatural members ofthe SBF.
Source: Times Financial Intelligence
II. List of membership types:
Who must join? Who can volunteer?
SBF’s membership system is divided into 3 main categories:
Source: SBF
This layered design allowsthe SBFto represent the collective interests of large corporations while also incorporating the voices of small and medium-sized enterprises (SMEs) and industry organizations.
III. StatutoryMembers:
Automatic membership by law
UnderSection5of theSBFAct,any local or foreign company registered in Singapore with a paid-up or authorized capital of SGD500,000 (SGD 0.5 million) or more is required to becomea member ofthe SBF.
In other words, as long as your company meets the capital threshold,youare automatically enrolledwithout any active application.
1. The main characteristics of statutory membership include
Mayhave voting rights atthe SBFAGM
Access to all member services and resources
Subject to annual membership fees, the amount of which is linked to the amount of capitalization
Annual dues rate (inclusive of9%GST):
2. Amount of paid-up or authorized capital
S$500,000–less thanS$1,000,000: Annual feeS$327.00
S$1,000,000–less thanS$5,000,000: Annual feeS$436.00
S$5,000,000–less thanS$10,000,000: Annual feeS$872.00
S$10million–less thanS$50 million: Annual feeS$1,308.00
50million and above: annual feeS$1,471.50
Attention:
The annual fee is based onthe amount of capital declaredby the company toACRA; membership iscalculatedon a calendar year basis (JanuarythroughDecember);the system will automatically renew and bill inJanuaryofthe following year.
IV. ConstituentMembers:
“Seats of Representation“in Trade Associations
Constituent members are usuallychambers of commerce representing specific industries or communities, including local and foreign chambers of commerce and industry, industry associations, etc. Thesemembers act more like “collective spokespersons” .
The role of these members is more like that ofa “collective voice“, astheyhavevoting rightswithin theSBFand can reflect the common demands of specific industries.
Flat annual fee:S$872.00(inclusive of9% GST)
Such members are often bridge roles, for example:
National Chambers of Commerce (e.g., Japanese Chamber of Commerce, Malaysian Chamber of Commerce);
Industry associations (e.g., logistics, manufacturing, technology, finance unions);
They bring together industry views andprovide first-hand dataforSBFpolicy recommendations.
Source: SBF
V. AssociateMembers:
Entry Channels for SMEs
ForSMEs, start-ups and self-employed individuals witha capitalization of less thanS$500,000,SBFhas established an“Affiliate Member“system.
These membersdo not have voting rights, but have access toSBFresources such as information, courses and international events.
Offer:Membership fee (S$327)will be waived forJanuarytoDecember2025joining!
However, if the companywithdraws within12months and then applies for reinstatement, the membership reinstatement will not be entitled to this waiver.
Affiliate membership dues will beproratedmonthly for the first yearthroughDecemberofthe current yearand automatically renewed beginning the following year.
To terminate, only one month’s written notice is required.
VI. Membership benefits:
What doesSBFbring to the table?
SBFis not just an“annual fee-paying organization“, but alsoan important platform forenterprises to accesspolicy, market and human resources.
The main benefits of membership include:
1、Policy and Regulatory Information
Receive regular updates from the government on the latest business policy interpretations, tax reform information, changes in labor regulations, and more.
2、Corporate Training and Executive Programs
SBFcooperateswith Singapore Management University,EnterpriseSGand other institutions to organize various courses, forums and special lectures, coveringpopular areas such asESG, digitalization, overseas expansion and financing.
3、International Market Expansion
SBFoften takes delegations on overseas study tours to places such as China, Vietnam, the Middle East and Europe to providebusiness matching and investment counselingfor member companies.
4、Business Exchange Platform
Members can participate inSBF‘s regularBusiness Roundtable, industry summits, and country-specific forums, and have face-to-face exchanges with policy makers and representatives of large enterprises.
5.Branding and Exposure Opportunities
SBFofficial website, newsletters and social media channels will showcase member activities and cases to enhance brand credibility.
6.Exclusive Information Channel
Registered members candownload presentations, reports, whitepapers and market trend analysesthrough theSBFMembers’ Area.
Source: SBF
VII. Conditions for exemptions:
Which companies are exempt?
Interestingly, not all incorporated companies are required to paySBFmembership fees.
Under theSBFExemption Order,a companycan apply for exemption from membership for the current yearif it does not have any employees for a specific period of time.
1.Specific criteria
A company may be exempted if it meets any of the following conditions:
There were no employees betweenJanuary1andDecember31of the previous year ; or
We have never hired an employee since the company’s inception.
For example, a fledgling holding company, investment company or dormant company can usually meet this criterion.
2.Five-step approach to applying for exemptions (R.E.A.D.Y)
SBFhas launched the“R.E.A.D.Y”five-step online application process, which allows companies to submit exemption requests with ease.
Upon approval, the company will be exempted from the current year’s dues for a specified period of time.
Figure source: SBF 2024 Annual Report
VIII. Why should I maintain my membership?
It is not only an obligation, but alsoa “ticket to entry“.
Many businesses think thatSBFis just an organization that charges an annual fee, but in Singapore’s business system,membership ofSBFis actually a“national business certification“.
It means:
The company complies with the capital and registration norms;
Businesses are included in a national network of chambers of commerce;
Timely access to government and industry partnership programs.
For foreign trade enterprises,SBFmembershipenhances credibilityin international cooperation;
For start-ups, joiningSBFprovides quick access to market information and policy resources.
In addition,SBFparticipates in numerous government programs such as:
SME Internationalization ProjectwithEnterprise Singapore;
ESG(Environmental, Social and Governance) Enhancement Program;
Industry manpower and digitalization support programs, etc.
These programs are often open only to member companies and have priority for quotas or funding slots.
Figure source: SBF 2024 Annual Report
IX. Frequently Asked Questions FAQ
Q1: Can I get a refund for my membership fee?
No. Fees paid are non-refundable, whether voluntarily terminated or automatically waived.
Q2: Can I quit in the middle?
Yes, you can. Affiliate members are only required to give one month’s written notice. Statutory members are not allowed to withdraw from the program because it is mandatory to join.
Q3: Can I apply for an exemption if my company suspends its operations?
Yes, as long as there are no employees for the whole year, you canapply for exemptionthrough theExemption Order.
Q4: Do new companies have to pay their dues right away?
The first year’s dues for a new company are prorated untilthe end ofDecember.
Q5：How to apply?
Visitthe “Membership”section ofSBF‘s official websiteto fill out an online application form or download a brochure to learn more.
Figure source:SBF 2024 Annual Report
Conclusion:SBFis not just a“Chamber of Commerce“, but a hub of business ecology
In Singapore,the SBF‘s presence is almost like a“central nervous system“for the business ecosystem:
It connects government, industry and business, providing a flow of information, opportunities and contacts for companies of all sizes and stages.
Whether you’re a group of companies with tens of millions of dollars in capital or a start-up team just getting started.
Understandingthe SBF, joiningthe SBF, or applying for a reasonable exemption are all “compliance and strategy” choices that operators should make.
These are both“compliance and strategy“choicesthat operators should make.
In short,not every company needs to be inducted, butthose thatknow how to useSBFresourceswelltend to go farther through market fluctuations.
Note:References from SingaporeSBF, United Morning Post, Times Financial Intelligence, comprehensive news reports collated, reproduced with attribution, erosion and deletion of contact.