TAC Alliance 2.0 Launched to Strengthen Business Support and Collaboration

More than 200 leaders from Trade Associations and Chambers (TACs) and industry gathered at the TAC Summit 2026, where the refreshed TAC Alliance 2.0 was officially launched to enhance collaboration and better support businesses navigating a volatile global environment.

The new initiative was unveiled by Ms Low Yen Ling, Senior Minister of State for Trade and Industry and Ministry of Culture, Community and Youth. TAC Alliance 2.0 aims to move beyond dialogue and focus on execution-driven outcomes to strengthen the overall TAC ecosystem.

The platform will focus on three key areas: shaping government–TAC partnerships through actionable insights, fostering collaboration across TACs, and building capabilities within the sector through structured development programmes aligned with the TAC Measurement Framework.

A Steering Committee comprising senior TAC leaders will guide the initiative. It will be co-chaired by Singapore Business Federation Chairman Mr Teo Siong Seng and Enterprise Singapore Chairman Mr Lee Chuan Teck, ensuring strong coordination between TACs and the Government.

Speaking at the event, Mr Lee highlighted the importance of TACs in supporting enterprise development, noting that stronger collaboration will help businesses navigate increasing global complexity and drive sectoral growth.

Two new initiatives were also introduced to strengthen governance and capability within TACs. The TAC Measurement Framework, developed by Enterprise Singapore, will serve as a self-assessment tool for organisations to evaluate and improve their capabilities. In addition, the Qualified TAC (QTAC) Director Badge, developed with the Singapore Institute of Directors, recognises TAC leaders who have completed governance training.

The launch comes amid findings from the Singapore Business Federation’s National Business Survey 2025 – Scaled Internationally Supplement, which indicate that business expansion momentum has slowed from 59% in 2024 to 47% in 2025 due to rising global uncertainty.

The survey identified key concerns among businesses, including uncertain overseas demand, rising expansion costs, and increasingly complex operating environments. While ASEAN remains the top destination for expansion, businesses continue to face challenges in markets such as China and India due to regulatory and operational barriers.

Skills gaps were also highlighted, particularly in market understanding, cross-cultural communication, and knowledge of trade regulations. Businesses expressed a need for greater financial support, regulatory guidance, and business matching services.

Notably, 40% of businesses remain focused on domestic markets, constrained more by capacity and risk concerns than by lack of opportunities. This underscores the need for stronger coordination across TACs to provide targeted support, including market advisory services and joint internationalisation efforts.

Mr Kok Ping Soon, CEO of the Singapore Business Federation, said the initiative reflects a shift towards practical support for businesses. He noted that TAC Alliance 2.0 will help companies build capabilities, form partnerships, and expand with greater confidence both locally and internationally.

The TAC Summit 2026 also featured a Solutions Marketplace and Diagnostics Hub, connecting TACs with solution providers and advisors in areas such as human capital, digitalisation, and leadership development.