Many new founders incorrectly assume that ACRA company registration alone grants them the right to operate. This is not the case. A business license is a separate permission from a government authority that allows you to perform a specific regulated activity, and it is activity-based, not company-based.

Some businesses, such as general consulting, software development, and e-commerce of non-regulated products, can start immediately after incorporation. However, several industries require licenses before you can lawfully begin operations. These regulated sectors include food and beverage (Food Shop License from SFA), financial services (licenses from MAS), education and training, and construction. It is your responsibility to check if your business activity, identified by your SSIC code, requires a license. Starting operations without the proper approvals can lead to fines or operational shutdowns.