Business associations and business community in Singapore

Singapore is Asia's leading financial and commercial hub, where international businesses seek market expansion opportunity. To connect effectively and get the support you need, joining business associations here is an indispensable step.

The following article by GLA will compile a list of reputable associations that foreign businesses should consider joining to expand their network of connections and business support.

1. Why should foreign businesses join business associations in Singapore?

Joining a business association in Singapore is a smart strategic move for foreign businesses. Through these associations, businesses have the opportunity to connect with a large network of business partners, investors and experts in many different fields. This not only opens up new business cooperation opportunities but also helps businesses quickly grasp information about the market, consumer trends and economic policies of Singapore.

Specific benefits when companies join business associations in Singapore: 

1.1. Expand your network of relationships

Connect with local businesses: The Association is a great bridge for foreign businesses to meet, exchange and cooperate with Singapore companies.

Looking for business partnersBusinesses: Through events and seminars organized by the association, businesses can find potential partners to cooperate in business, distribute products or provide services.

1.2. Build credibility

Being a member of a prestigious association will help businesses enhance their image and gain trust from partners.

1.3. Quick access to market information

The association regularly organizes sharing sessions and seminars on the economic situation, policies, and investment opportunities in Singapore, helping businesses keep up with market changes. Through reports and research documents provided by the association, businesses can better understand customer preferences, competitors, and industry trends without having to spend a lot of resources on research for the company. 

1.4. Legal and administrative support

• Legal advice: The Association can provide legal advice on business-related issues in Singapore, helping businesses resolve any difficulties that may arise.
• Administrative procedure support: The Association can help businesses complete administrative procedures quickly and efficiently.
• Participate in trade promotion activities:
• Participating in fairs and exhibitions: The Association regularly organizes or supports businesses to participate in trade promotion events, helping businesses promote products and services and find new customers.

2. List of business associations in Singapore that foreign businesses should not miss

2.1. Business associations commonly operating in Singapore

1. Action Community for Entrepreneurship (ACE): The community was established with the aim of supporting entrepreneurs, especially start-up companies.
2. Association of Small & Medium Enterprises (ASME): This is a non-profit organization that aims to help and develop small and medium enterprises.
3. Singapore Business Federation: National committee of the International Chamber of Commerce (ICC) Singapore, representing over 21.500 companies in Singapore.
4. Singapore Business Federation (SBF): The Singapore Business Federation (SBF) is the premier business community organisation in Singapore, representing over 30.000 companies and key chambers of commerce both local and foreign. SBF provides a platform for businesses to connect, exchange ideas and promote their interests. 
5. Singapore International Chamber of Commerce (SICC): The Singapore International Chamber of Commerce (SICC) is one of the leading international chambers of commerce in Singapore, representing over 3.000 members from over 60 countries. SICC provides a range of services to its members, including business matching, market research and policy advocacy for foreign businesses.
6. Association of Trade and Commerce (ATC) Singapore: The Association of Singapore Chambers of Commerce and Industry (ATC) is a non-profit organisation that represents the interests of small and medium enterprises (SMEs) in Singapore. ATC provides a range of services to its members, including training, networking and advocacy.
7. European Chamber of Commerce in Singapore (ECCS): The European Chamber of Commerce in Singapore (ECCS) is the official representative of European businesses in Singapore. ECCS provides a range of services to its members, including business matchmaking, market research and policy advocacy for European businesses.
8. American Chamber of Commerce in Singapore (AmCham Singapore): The American Chamber of Commerce in Singapore (AmCham Singapore) is the official representative of U.S. businesses in Singapore. AmCham provides a range of services to its members, including business networking, market research, and policy advocacy for U.S. businesses.

2.2. Some Singapore business associations dedicated to female entrepreneurs

These networks provide optimal support for female entrepreneurs in Singapore and regularly organise networking events and training sessions for women. The most prominent organisations include:

• Athena Network Singapore

Athena Network® is an organization of successful and influential women entrepreneurs. The organization focuses on providing quality training and resources to build effective business and career development strategies. Athena Network® aims to create a dynamic and vibrant community of women entrepreneurs and leaders willing to collaborate to accelerate business growth.

• Federation of Business and Professional Women (Singapore)

The Federation of Business and Professional Women (Singapore) (BPW Federation (Singapore)) is an affiliate of the Business and Professional Women International (BPW International). It supports the development of women's professional, leadership and entrepreneurial potential through advocacy, mentoring, networking, skills building and economic empowerment programmes.

• Financial Women's Association (FWASG)

Financial Women's Association Singapore promotes professionalism in the financial sector, with a special focus on the role of women and the development of future leaders. The organization provides networking activities, mentoring programmes and social impact activities to promote the education, advancement and recognition of women in the financial sector.

• Singapore Business and Professional Women's Association (SBPWA)

The Singapore Business and Professional Women's Association (SBPWA) is a non-profit business organisation affiliated with the Singapore Council of Women's Organisations (SCWO) and the International Federation of Business and Professional Women (BPW). The organisation focuses on developing a strong community of business and professional women by providing valuable global networking and rewarding activities.

These organisations play a vital role in supporting and promoting the growth of women entrepreneurs in Singapore. By providing resources, networking opportunities and training, they help women to enhance their skills, expand their networks and achieve success in their careers.

2.3. Online Networking and Entrepreneurial Community in Singapore

In addition to organizations dedicated to women entrepreneurs, Singapore also has a wide range of professional associations and networks that cater to specific sectors such as:

• Singapore Infocomm Technology Federation (SITF): For businesses and professionals in the field of information technology.
• Singapore Manufacturers Federation (SMAF): Support manufacturers and manufacturing businesses.
• Singapore Medical Association (SMA): For healthcare professionals.

2.4. Online social networks

Like many other places around the world, online social networks play an important role in connecting the business community in Singapore.

• LinkedIn: This is the most widely used professional social network among Singaporean entrepreneurs. LinkedIn provides a platform for entrepreneurs to create personal profiles, search for job opportunities, connect with business partners and join industry groups.
• Singapore Online Business Association (SOBA) on Meetup: This platform helps entrepreneurs connect, attend events, and discuss business issues.
• Country-specific business groups: Expat entrepreneurs can join country-specific business groups (Expat Groups) to connect with people of similar backgrounds and find support.

Typically, to become a member of a business association, you need to register and pay an annual fee. In return, you will have the opportunity to participate in networking events, access up-to-date professional literature, take advantage of a rich online resource base, and receive a variety of business consulting services such as legal, financial, and marketing. All details about the registration process, membership levels, and corresponding costs are publicly available on each association’s website. Most of these associations also have a network of branches spread across many regions.

3. How does GLA support Singaporean Enterprises in participating in business associations in Singapore? 

GLA is one of the units that support businesses that want to expand their operations to Singapore.

With experience and in-depth understanding of the market and legal regulations here, GLA provides a comprehensive range of support services, from the company establishment stage until the business is stable and develops Singapore businesses to participate in business associations in Singapore most effectively and conveniently, including: 

• Support businesses to establish companies in Singapore in compliance with legal regulations in Singapore.
• Support businesses in accounting and tax declaration, help businesses comply with Singapore's accounting and tax regulations, prepare periodic financial reports and pay taxes on time.
• Support businesses in applying for work permits for foreigners working in Singapore.
• Legal advice on matters relating to doing business in Singapore, such as contracts, disputes, intellectual property.
• Support businesses in finding business partners, participating in trade promotion events and expanding markets in Singapore.

Highlights

• Joining an association is a strategic move: It helps businesses expand their networks, access market information, find partners and enhance their reputation.
• Singapore has many associations serving different sectors and audiences, from startups to large corporations.
• Connect with local businesses, find business partners, update market information, provide legal support and participate in trade promotion activities.
• There are many support networks specifically for women entrepreneurs, facilitating career development.
• Online networking with platforms like LinkedIn, Meetup provides more opportunities to connect and learn.