SSIC 47510 - Retail sale of textiles

Companies in This Category (3,464)

Understanding SSIC 47510

The SSIC 47510 classification pertains to retail sale of textiles. This official code is mandatory when registering a business entity with ACRA (Accounting and Corporate Regulatory Authority) in Singapore.

Key Characteristics:

Compliance with the Companies Act (Cap. 50) regarding registration of business names and addresses.
Common business structures include sole proprietorships, partnerships, and private limited companies (Pte Ltd) registered with ACRA.
Regulatory requirements include compliance with the Consumer Protection (Fair Trading) Act (CPFTA) regarding fair trading practices and accurate product descriptions.

Common Business Operations

Retail sale of clothing for adults.

Activities include sourcing clothing from local or overseas suppliers, displaying and selling clothing in a physical store or online platform, and managing inventory.

Examples include boutiques selling designer clothing, department stores with clothing sections, and online retailers specializing in adult apparel, all registered under SSIC 47510.

Industry practices often involve participating in Singapore Fashion Week or similar events, and leveraging government grants for retail digitalization as outlined by Enterprise Singapore.

SSIC 47510 Retail sale of textiles

Companies in This Category (3,464)

Understanding SSIC 47510

Key Characteristics:

Common Business Operations