The Singapore Business Federation (SBF) convened key industry leaders, government officials, and business representatives at the second Singapore Budget Symposium 2025 to discuss strategies for navigating economic volatility, workforce resilience, and digital transformation.

Held in partnership with PwC and DBS, the event drew around 1,000 participants, including C-suite executives, trade associations, and government agencies. The discussions focused on internationalisation, workforce development, technology adoption, and workplace culture, reflecting the challenges and opportunities businesses face in a shifting global landscape.

Government Support for Business Growth

A key highlight of the event was the plenary discussion, moderated by Marcus Lam, Executive Chairman of PwC Singapore, and featuring insights from:

• Lee Chuan Teck, Chairman, Enterprise Singapore
• Dilys Boey, Chief Executive, Workforce Singapore
• Han Kwee Juan, Group Executive & Head of Institutional Banking, DBS
• Chin Wei Jia, Group CEO, HMI Medical

The discussion addressed scaling businesses in a volatile economy, manpower challenges, and how companies can leverage government support to stay competitive. Enterprise Singapore’s Market Readiness Assistance (MRA) Grant and Enterprise Development Grant (EDG) were highlighted as essential resources for businesses looking to expand overseas.

Workforce Development and AI Adoption Take Centre Stage

One of the recurring themes was talent development and the need to rethink job roles to stay competitive. The Enterprise Workforce Transformation Package was cited as a tool to help businesses upskill employees and adapt to evolving industry needs.

Technology and AI adoption also featured prominently in discussions. Enterprise Singapore’s three-tiered AI adoption framework was presented as a structured guide for businesses at different stages of digital transformation. The panel stressed that leveraging AI and digitalisation is now critical for improving efficiency and global competitiveness.

Prioritising Workforce Well-Being

Beyond business growth, the symposium highlighted the importance of building a resilient workforce. Speakers emphasised that employee well-being – covering physical, mental, and emotional health – is essential to long-term business success. Companies were urged to adopt holistic wellness programmes to support employee productivity and retention.

As businesses navigate economic uncertainties, the Singapore Budget Symposium remains a crucial platform for industry leaders to gain insights into government policies and explore strategies for sustainable growth. With ongoing support for digitalisation, workforce development, and internationalisation, businesses are encouraged to adapt and innovate to remain competitive.