The Singapore Business Federation (SBF), Singapore’s apex business chamber, has unveiled a multi-year roadmap to enhance the capabilities of Trade Associations and Chambers (TACs), which includes strengthening the sector’s value proposition, improving governance standards, and boosting human capital development.

Launched by Senior Minister of State (SMS) of Trade and Industry, Ms Low Yen Ling, the Sector Transformation Map (STM), developed by the TACs with the support of government agencies, is a multi-year blueprint that details initiatives to promote the sustainable growth of TACs in Singapore. Developed in collaboration with more than 40 TACs and supported by Enterprise Singapore, the map consists of nearly 20 new initiatives under four key strategies covering Sector Value Proposition, Human Capital, Operational Excellence, and Governance & Risks, which will be rolled out over the next three years. These initiatives are targeted at bolstering TACs’ capacities and capabilities to better support companies, particularly Singapore’s small and medium-sized enterprises, as they transform and grow.

“To realise Singapore’s economic potential amidst the increasingly volatile and uncertain economic landscape, TACs can play an important role in enabling our businesses to be future-ready. The development of this roadmap, by the TACs for the TACs, represents our collective ambition to deepen our capabilities to better serve the business community.  We look forward to the support from key stakeholders in the government and business community to translate the ambition into initiatives to strengthen the talent base in TACs, enhance the governance for more effective delivery and develop more partnerships to scale the impact of our programmes” said Mr Kok Ping Soon, CEO of SBF.

Over the past year, SBF and several TAC Heads of Secretariats (see Annex B) led multiple focus group sessions, workshops, and consultations with 68 TAC leaders and key secretariat staff from 42 TACs. These discussions examined seven key areas including strategy and governance, membership, and capability building.

Several areas of improvement were identified including the need for more resources to support building enhanced governance frameworks, the need for more active collaboration between TACs and the Government, and stronger communication between TAC members. 

Nearly 20 new initiatives under the STM aim to enhance these areas of improvement. These initiatives include the SBF-SID Leadership Programme for TAC Councils and the TAC Administration Guide, which are launched today (22 January 2025). The SBF-SID Leadership Programme for TAC Councils, developed in partnership with the Singapore Institute of Directors, will equip board members and Heads of Secretariats with the necessary knowledge and skills on governance and TAC leadership. In addition, the TAC Administration Guide will provide useful guidelines for TACs to strengthen their management and governance capabilities. 

“Our TACs are integral pillars of Singapore’s business community. They play a critical role as the bridge between the Government and businesses. Being close to the ground, TACs understand the needs of their industries and provide invaluable support to businesses, especially SMEs. 

Besides advocating for their members, TACs link the government, industries and enterprises, and strengthen vital connections to form our vibrant enterprise ecosystem. TACs are also invaluable partners in our shared journey to transform our economy, grow our enterprises, and create better opportunities for Singaporeans. I am heartened by the TACs’ efforts to upgrade their capabilities and transform to better champion their members’ needs,” said SMS Low.