SBF launches tool to help firms assess ‘future readiness’, address capability gaps

On September 21, the Singapore Business Federation (SBF) introduced a comprehensive diagnostic tool called the Future Ready Business Index (FRBI) to assist companies in evaluating their future-readiness, pinpointing capability gaps, and prioritising transformation initiatives. The FRBI, launched alongside the inaugural Future Ready Business in Action 2026 event, was officiated by Senior Minister of State for Trade and Industry Low Yen Ling.

The FRBI, created in collaboration with Boston Consulting Group (BCG), DBS, Enterprise Singapore, and RSM Singapore, assesses 11 quantitative measures and 39 qualitative metrics with defined descriptors for objectivity.

SBF CEO Kok Ping Soon explained that the FRBI consists of six key dimensions – Success Driven, Scaled Globally, Smart-enabled, Skills Empowered, Sustainable Centric, and Socially Impactful – each evaluated through a T-shaped model that provides a broad assessment while pinpointing areas requiring significant efforts. According to Kok, the FRBI distinguishes itself from other diagnostic tools in three ways: it provides a holistic view of a business rather than focusing on a single aspect, it measures maturity rather than just activity, and it transforms diagnosis into actionable steps by identifying critical gaps and directing businesses to relevant resources for improvement.

Over 100 companies have completed the FRBI, with plans to double this number to 200 by the end of the year, and eventually reaching 500 companies by the following year. Mariam Jaafar, a managing director and senior partner at BCG, noted that the tool's pilot revealed companies with higher FRBI scores tend to demonstrate better business outcomes. For instance, progressing companies showed a median revenue growth of 5 percentage points higher compared to nascent companies.

Currently, businesses are most prepared in the success-driven and skills-empowered dimensions, while sustainable centric and socially impactful aspects lag behind. The biggest ambition gaps for pilot participants were observed in the smart-enabled and skills-empowered dimensions. SBF recommends that companies reassess their FRBI status every two years to monitor progress and maintain relevance in evolving business conditions.