With more funding and greater scope, TACs must step up to the plate

ONE of the novel and striking features of Budget 2016 was Finance Minister Heng Swee Keat's commitment to set aside S$30 million over the next five years to support trade associations and chambers (TACs) develop their capabilities. There will also be additional funding for industry-wide transformation projects under Spring's Collaborative Industry Projects Programme.

Given the budget's focus on targeted support for various industries under the proposed Industry Transformation Programme (ITP), additional support for TACs (of which there are about 350, many of them industry-specific) is appropriate.

It is also clear that many TACs need help. Judging from industry feedback, many smaller TACs fall short of their members' expectations. Some are beset with problems relating to not only capacity and capability, but also leadership, succession planning and internal politics.