New diagnostic tool helps Singapore enterprises identify capability gaps and prioritise transformation actions
The Singapore Business Federation (SBF) launched the Future Ready Business Index (FRBI) on 21 September 2026 in Singapore to help enterprises assess their future readiness, identify capability gaps and prioritise transformation efforts. Developed by SBF with Boston Consulting Group (BCG), in partnership with DBS Bank, Enterprise Singapore and RSM Singapore, the diagnostic tool provides businesses with personalised assessments and connects them with relevant programmes, advisers and ecosystem partners.
The launch was officiated by Senior Minister of State for the Ministry of Trade and Industry (MTI) and the Ministry of Culture, Community and Youth (MCCY), Low Yen Ling, at the inaugural Future Ready Business in Action 2026. The event was attended by more than 200 business leaders, ecosystem partners and government stakeholders, with discussions focused on enterprise resilience, future-ready capabilities and competitiveness amid changing economic and operating conditions.
The FRBI assesses business readiness through six dimensions: business performance, international growth, technology, talent, sustainability and social impact. Businesses receive an assessment identifying priority capability gaps and recommended areas for action, followed by access to relevant support through the wider Future Ready Business ecosystem.
The ecosystem includes FRB Dialogue, which facilitates discussions between business leaders and policymakers; FRB Spotlight, which provides peer learning through company visits; FRB Solutions, which offers targeted clinics and workshops; and FRB Marketplace, which connects enterprises with solutions and ecosystem partners.
SBF said the initiative responds to challenges including geoeconomic uncertainty, rising costs, decarbonisation pressures, and technological and workforce changes. Early findings from the first 100 companies completing the FRBI indicated that transformation outcomes depend on the alignment of business strategy, workforce capabilities and financial readiness.
SBF Chairman Mr. Mark Lee said businesses needed to be resilient while preparing to pursue new opportunities, adding that the ecosystem could help companies identify where to invest and which capabilities to develop. SBF Chief Executive Officer Mr. Kok Ping Soon said the FRBI was designed to help companies understand their current position, identify priority gaps and determine actions.
The event also featured a keynote address by Dyson Chief Executive Officer Mr. Hanno Kirner and a closing panel involving representatives from BCG, HMI Medical and SPIN Fans, which discussed technology, talent, resilience and growth opportunities.
Source: Singapore Business Federation (SBF)
