Singapore Business Federation launches future-ready index

Singapore Business Federation has launched the Future Ready Business Index, a diagnostic tool designed to help companies in Singapore assess their readiness for transformation.

The index sits within the federation's broader Future Ready Business platform, which is intended to guide companies from initial assessment to practical support through programmes and external partners.

Developed with Boston Consulting Group and delivered in partnership with DBS Bank, Enterprise Singapore and RSM Singapore, the tool assesses businesses across six areas: business performance, international growth, technology, talent, sustainability and social impact. Companies that complete the assessment receive a personalised view of priority gaps and suggested actions, and are then connected with advisers and support schemes.

The launch comes as many companies face pressure from weaker growth visibility, higher costs, decarbonisation demands, and rapid shifts in technology and labour markets. The federation's survey work showed a cautious business outlook, while only just over half of companies had changed work processes through automation, digitalisation and artificial intelligence.

The picture on emissions was also uneven. According to the federation, six in 10 companies pursuing decarbonisation still do not track emissions, with capability and manpower constraints cited as the main reasons.

Platform approach

The Future Ready Business platform is built around four offerings: dialogue sessions with senior business leaders and policymakers, company visits to share transformation lessons, targeted clinics and workshops, and a marketplace linking businesses with advisers and service providers.

Support available through the wider network spans business transformation, finance, internationalisation, enterprise development and professional services. Programmes linked to the platform include initiatives run by the federation, DBS and RSM in areas such as financing, trade, workforce transformation, sustainability reporting, cyber readiness and business adaptation.

Officials said the aim is to create a single front door for business transformation. Rather than leaving companies to navigate fragmented schemes on their own, the system is designed to move them from diagnosis to specific forms of support.

Boston Consulting Group also presented initial findings from the first 100 companies to complete the index. The early results suggested that transformation outcomes depend not only on ambition, but also on alignment between strategy, workforce readiness and financial preparedness.

That emphasis on alignment reflects a broader problem often seen among smaller and mid-sized businesses, where plans for digital adoption or sustainability can stall because management, staffing and funding decisions move at different speeds. The index is intended to identify those disconnects early and point companies to the most immediate gaps.

Mark Lee, Chairman, Singapore Business Federation, said, "Businesses today need to be both resilient and ready to seize new opportunities. The Future Ready Business ecosystem helps businesses make clearer decisions on where to invest and which capabilities to build across technology, workforce transformation, productivity and growth. Future-readiness is ultimately about having the clarity and capabilities to act decisively, even amid uncertainty."

Kok Ping Soon, Chief Executive Officer, Singapore Business Federation, said, "Many companies want to transform but are unsure where to begin. The FRBI cuts through the noise by showing businesses where they stand, which gaps matter most and what actions to prioritise. It then connects them to the right programmes and partners to turn insight into future-ready capabilities."

The initiative builds on DBS's existing work with businesses across financing, sustainability and skills, while RSM highlighted the need for companies to look beyond technology alone when managing change.

Lim Him Chuan, Singapore Country Head, DBS Bank, said, "From our roots as the Development Bank of Singapore, helping businesses build future-ready capabilities is in our DNA. Over the years, we have worked alongside businesses and ecosystem partners through programmes and partnerships that strengthen resilience and unlock new growth opportunities. We are encouraged to see this ecosystem continue to mature, creating greater breadth and depth of support for businesses. The Future Ready Business Index builds on that momentum by helping businesses bridge the gap between diagnosis and execution, drawing on expertise across the ecosystem to turn future-ready ambitions into tangible outcomes."

Terence Ang, Head of Advisory, RSM Singapore, said, "Successful transformation requires businesses to look beyond technology and consider how people, processes and governance work together to support change. The FRBI offers a structured approach that helps businesses gain a more holistic view of their capabilities and identify where they can strengthen their readiness for the future."

Boston Consulting Group said the index's six-part structure was based on research, industry insight and its work with companies on transformation across sectors.

Mariam Jaafar, Managing Director and Senior Partner, Boston Consulting Group, said, "The FRBI looks at the capabilities that enable businesses to perform today, adapt as their markets, customers and operating environments change, and be future-ready. Its six dimensions were developed from research, industry insights and our experience working with businesses on transformation. Together, they provide a practical way for businesses across industries and stages of development to assess their current capabilities, identify gaps and focus their transformation efforts where they can have the greatest impact."