The Singapore Business Federation (SBF) has unveiled the Future Ready Business Index (FRBI), a diagnostic tool designed to help Singapore enterprises assess their readiness for future challenges, identify capability gaps, and prioritise transformation efforts. Developed in collaboration with Boston Consulting Group and supported by DBS Bank, Enterprise Singapore, and RSM Singapore, the FRBI aims to guide businesses in navigating an increasingly complex global economy.
The launch event, officiated by Senior Minister of State Low Yen Ling, attracted over 200 business leaders and stakeholders. The FRBI is part of SBF’s broader Future Ready Business platform, which offers a comprehensive approach to business transformation. This platform includes the FRB Dialogue, FRB Spotlight, FRB Solutions, and FRB Marketplace, each providing unique opportunities for businesses to engage with leaders, learn from peers, and access targeted solutions.
The FRBI evaluates business readiness across six dimensions: business performance, international growth, technology, talent, sustainability, and social impact. It provides businesses with a personalised assessment, highlighting priority capability gaps and recommending actions. This initiative is crucial as businesses face challenges such as geoeconomic uncertainty, rising costs, and rapid technological changes.
Mark Lee, Chairman of SBF, emphasised the importance of resilience and readiness in seizing new opportunities. Kok Ping Soon, CEO of SBF, noted that the FRBI helps businesses identify critical gaps and connect with the right programmes and partners to build future-ready capabilities. The tool’s insights from the first 100 companies indicate that successful transformation depends on aligning business strategy, workforce capabilities, and financial readiness.
