SBF programmes support 7,700 firms in 2024, as membership tops 32,000
The company expands its membership base by 2,000, bringing its total to over 32,000 statutory and associate members
SINGAPORE’S apex business chamber engaged more than 15,600 firms in 2024, an 18 per cent increase from the previous year, with its programmes benefiting over 7,700 companies.
The Singapore Business Federation (SBF) also expanded its membership base by 2,000, bringing its total to over 32,000 statutory and associate members, it said on Friday (Feb 7).
More than 1,900 businesses participated in SBF’s internationalisation initiatives last year, including overseas market workshops and trade advisories.
The federation also facilitated 176 projects involving 95 companies, assisting with partnership development, business setup, and networking.
Among its key events were the three-day Singapore Apex Business Summit in July 2024, which drew over 2,000 participants from 55 countries. Last August, SBF organised the 8th Asean Conference, which brought together more than 500 government leaders and C-suite executives.
Going green and digital
On the digital front, more than 500 businesses tapped into advisory services under the CTO-as-a-Service programme, which helps firms identify and implement digital solutions.
SBF also introduced new sustainability initiatives, including the Singapore Emission Factors Registry, which provides localised data for more accurate carbon footprint measurement.
During the year, two new programmes were launched to support small and medium-sized enterprises (SMEs) in their decarbonisation efforts.
The SME Sectoral Net Zero Transition Programme, developed with Bain & Company, offers sector-specific workshops, advisory support, and a tool to develop actionable decarbonisation plans.
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In October, SBF – in partnership with Singapore Post (SingPost), EY, and OCBC – launched the Queen Bee Enabled Sustainability Transition programme to support SingPost’s SME suppliers in adopting sustainable practices.
Workforce development, policy advocacy
Workforce development remained a key focus, as more than 4,200 companies received support through initiatives such as the Jobs Development Partner Programme and Career Conversion Programmes.
Some 1,135 mature, mid-career individuals were either placed with host organisations or reskilled for roles in sustainability, internationalisation, wholesale trade, and SMEs.
Additionally, 3,000 businesses obtained Progressive Wage Mark accreditation, which SBF administers on behalf of tripartite partners to recognise employers that pay progressive wages.
In policy advocacy, the business chamber co-led the Alliance for Action on Business Competitiveness with the Ministry of Trade and Industry, putting forward 27 recommendations to improve business conditions in areas such as manpower, land use, and regulatory frameworks.
In February 2024, the federation also convened a working group for the Johor-Singapore Special Economic Zone to engage businesses on operational challenges in Johor and identify key success factors for the zone’s development.
A report outlining business recommendations and strategies to enhance economic cooperation between Singapore and Johor was released in July 2024.
New brand identity
Last November, SBF introduced a new brand identity, with a new tagline and logo, as part of plans to partner with more corporates.
SBF chief executive officer Kok Ping Soon said: “In this complex economic landscape and with rising geopolitical uncertainties, SBF’s role as the apex business chamber is more crucial than ever.
“We are uniquely positioned to help businesses not only address current challenges but also transform to be future ready.”
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