Singapore Business Federation (SBF) is the top chamber of commerce that supports the interests of Singapore’s business community in the areas of trade, investment and labor relations.
It represents 27,000 companies, as well as major local and foreign chambers of commerce.
Under the SBF Act, all Singapore registered companies with share capital of S$0.5 million or more are members of SBF.
3 key functions
- The bridge between Singapore’s business community and the Government
- The business community’s representative in building bilateral, regional and multi-lateral relationships
- A key provider of capability-building initiatives and services for Singapore businesses
Benefits of becoming an SBF member
SBF will solve major business issues, including trade and investment, labor management and wages.
The member can participate in various briefings, lectures, seminars, workshops and conferences organized by SBF.
The federation organizes and supports more than 500 events each year, benefiting approximately 68,000 participants.
SBF RISE program aims to help SBF members, especially small and medium-sized enterprises, respond to the challenges posed by the Covid-19 disease epidemic by participating in a series of activities organized by SBF, participating industry associations and chambers of commerce.
Why the company is required to pay a subscription fee to become a member
SBF needs sufficient resources to be effective. Some of this income comes from membership fees of business associations and chambers of commerce.
The rest consists of fees charged by the company’s subscription. SBF sets up different fee levels based on a company’s paid-in capital. According to the law, the schedule of subscription fees must be approved by the minister and is also subject to a limit of S$1,500.
At the same time, the government has ensured that this requirement will not cause unnecessary burdens on companies, and has exempted small companies (with paid-in capital less than 500,000 yuan) and sole proprietorship companies from participating in school-based funds.
Type of membership
- Statutory members
Local/foreign companies with paid-in capital of S$500,000 and above are considered legal members. The statutory members have the right to vote in the annual general meeting. The annual membership fees of the statutory members are as follows:
|Paid-up capital / Authorised Share Capital||Annual Fees*|
|SGD 10million & above||SGD856|
|SGD 5 million – less than SGD 10 million||SGD642|
|SGD 1 million – less than SGD 5 million||SGD428|
|SGD 0.5 million – less than SGD 1 million||SGD321|
- Constituent members
Local or foreign Constituent Members of SBF are organisations representing the interests and welfare of any business groups or communities and are entitled to vote at SBF’s General Meetings.
Currently, SBF has 12 Constituent Members. The annual subscription fee is SGD2,140
- Associate members
SBF welcomes all business organisations to join SBF as Associate Members. The annual subscription fees for Associate Members are as follows:
|Category of Associate Members||Entrance Fee*||Annual Fees*|
|Companies with paid up/ authorised share capital less than SGD 0.5 million||SGD321||SGD321|
|Associations / Chambers / Societies registered in Singapore||SGD321||SGD1,070|
|Entitles not within any of the above**||SGD321||SGD535|
- All fees are inclusive of 7% GST
- Entrance fee and membership fees paid are not refundable on termination of membership.
- A company that becomes a new member during any part of an Official Year shall pay annual subscription fees. An invoice will be sent to the company on the anniversary date of joining for the annual membership fee.
On the recommendation of the SBF Council and endorsement of the Board of Trustees, the Ministry of Trade and Industry enacted the SBF (Exemption) Order.
If the company did not have any employees from 1 January to 31 December 2020, it qualifies for exemption and may apply for SBF membership exemption for Year 2021.
A company which qualifies for membership exemption will need to apply for exemption annually by the stipulated deadline, failing which the annual subscription fee will apply.