'A more aggressive' SBF brings business bodies together to help local firms grow

Singapore

TAKING the cue from a recommendation of the Committee on the Future Economy, the Singapore Business Federation (SBF) has roped in 30 trade associations and chambers of commerce (TACs) to form an alliance to better support local enterprises to grow.

"Amid the challenging business landscape, it's time that the business community comes together to help each other in a more collaborative manner and work with government to co-create solutions to enhance Singapore's economic value and prosperity," SBF chairman S S Teo said on Tuesday at the official opening of SBF's new office in Robinson Road.

The new office, which occupies 11/2 floors at SBF Center, is donated by Far East Organization. It also serves as the new office for the SBF Foundation headed by former banker Theresa Foo.

The 31 TACs, including SBF, inked a compact on the same day at the new office to create the TAC Alliance with the goal of boosting the working ties between business bodies and TACs. SBF will serve as a platform for these "strategic partners collaborators".

The collaboration will include research and advocacy on important national and international issues which affect business and the economy; coordinating and facilitating efforts to help member firms grow their businesses in overseas markets; working together overseas to smoothen the flow of Singapore's trade and investments in key markets; and joining hands to transform and enable member firms to become strong and viable enterprises.

Among its proposals to the government in February, the Committee on the Future Economy said TACs could cooperate to better help homegrown enterprises grow and break into markets abroad.

The SBF-initiated TAC Alliance is in line with the hallmark of a repositioned SBF, which is collaboration.

"Central to its new role is the importance of working more closely with trade associations and chambers," Mr Teo said.

Signalling that SBF, which turns 15 this year, will take a more aggressive stance in the face of a more challenging external environment and slower growth at home, he said: "We want to re-position SBF to play a more active and relevant role. We want to deliver more value and services that meet the expectations of our members and the wider business community."

He said SBF will now be a growth platform championing the interests of the local business community. "We will sense, prioritise, analyse and help resolve burning issues facing significant segments of businesses."

He said SBF will set up issues committees led by SBF council members. "These committees will deep dive into business issues. They are platforms for collaborations with government and industries. They will undertake activities in support of the growth of businesses and the economy."

The first issue committee will deal with digitalisation. SBF council member Janet Ang, who is also vice-president for industry solutions at IBM Asia Pacific, will head it.

The committee, which will include participation by government agencies such as the Info-communications Media Development Authority, will help businesses build strong digital capabilities and drive the adoption of digital technologies, Mr Teo said.

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