BIZSpoke | 22 March 2024 - SBF Celebrates 100th Council Meeting A Legacy of Building Businesses for the Future

22 MARCH 2024

SBF Celebrates 100^th Council Meeting:
A Legacy of Building Businesses for the Future

SBF marked a historic milestone on its 100^th Council Meeting! To celebrate, past and present SBF Council Members and Board of Trustees gathered for a special dinner at the Asian Civilisation Museum, with Minister for Trade and Industry Gan Kim Yong gracing the occasion, highlighting the strong partnerships crucial to SBF's success.

A Legacy of Growth

From its humble beginnings to its current position with over 30,000 members, SBF has organised over 600 activities in 2023 alone, engaging over 13,000 companies and 25,000 participants. This exceptional growth wouldn't have been possible without our dedicated SBF Council Members.

Looking Forward: Building Future-Ready Businesses

As SBF looks to the next 100 Council meetings, we remain confident in our ability to push Singapore businesses towards global competitiveness and sustainability. We are grateful for the continued support of Singapore's business leadership.

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WHAT'S NEW

3 Key Takeaways from Singapore Budget Symposium

Prioritising Upskilling and Innovation: Budget measures like the SkillsFuture Level-up Programme and increased R&D funding demonstrate the government's commitment to enhancing competitiveness in Singapore's workforce and businesses, ensuring an edge in a rapidly evolving technological landscape.

Addressing Rising Costs and Manpower Challenges: Key Budget measures, such as the Enterprise Support Package, tax rebates, and enhanced Enterprise Financing Scheme, aim to ease business pressures by tackling rising operational costs and manpower challenges.

Collaboration for Business Success: Government ministries, business associations, and financial institutions like DBS and KPMG in Singapore unite to support businesses through economic uncertainties and implement Budget 2024 measures successfully.

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3 Key Takeaways from Dialogue on COP 28

Singapore Businesses Need to Go Green Now or Risk Missing Out: The government provides grants and subsidies for sustainability, but availability may be limited. Businesses not seizing these risk losing competitiveness in the future green economy.

Going Green Can Be an Opportunity for Growth: Sustainability goes beyond environmental impact reduction; it involves creating eco-friendly products and services. Embracing sustainability offers competitive advantages and access to new markets.

Accountants Have a Key Role in Sustainability: With climate disclosures becoming mandatory, accountants are pivotal in tracking and accurately reporting environmental impacts, offering a chance to become sustainability leaders.

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SBF Wraps Up Budget Season with Dialogue with DPM Wong and Minister Gan

SBF concluded its Budget 2024 engagement sessions with a final closed-door dialogue at SBF Center on 20 March, involving government leaders and business representatives from the SBF Council, Action Committees and the Young Business Leaders Network (YBLN). The dialogue emphasised a crucial message: effective policy hinges on successful implementation. There was a strong consensus that businesses must actively take advantage of the numerous programmes rolled out in Budget 2024. These programmes aim to address rising costs, enhance capabilities, and support the transition to a net-zero economy. To gain further insights into the discussions, click the link below.

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A fresh approach to foreign manpower needed to tackle long-term challenges

There are some jobs that locals shun and tasks that can’t be automated. But companies can’t do without them. Addressing the intricacies of the manpower challenge, particularly concerning foreign labour, holds significant importance for businesses and there are no simple or quick fixes to this multifaceted issue. Read more in this opinion article by SBF Chief Policy Officer Musa Fazal, on how SBF is working with the government to co-create solutions to overcome these constraints.

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SUPPORTED EVENTS

Humanising Technology for Purposeful Innovation

SBF is proud to partner with IDC and Foundry Events for The Next Big Thing (TNBT) Singapore - an event dedicated to fostering innovation and driving growth in the tech industry. Join us as we engage in topics such as AI, Business Continuity & Resilience, Cybersecurity, ESG and more with some of the top C-level business leaders from the tech and financial services spheres. Don't miss this chance to be part of the conversation and drive meaningful progress in the tech sector. Register now to claim your Complimentary Executive Access Pass!