SINGAPORE: More businesses in Singapore are recognising the essential role of social sustainability in the business’ long-term success, with nine in 10 large companies and eight in 10 SMEs saying it is key to creating business value, though many SMEs cited limited resources and competing priorities, according to the Social Sustainability and Corporate Volunteering (CV) study commissioned by the Singapore Business Federation (SBF).
The study, conducted by KPMG in the second quarter of 2025 (Q2 2025), gathered responses from over 430 companies. Eighty-seven per cent of the participants were SMEs.
Notably, 95% of firms surveyed had implemented at least one initiative in the past year in terms of employee training, workplace health and safety, or progressive wage practices, though SMEs called for clearer guidance, practical tools, and training to help deepen their social sustainability efforts amid competing priorities and limited resources.
The study also found that four in 10 companies in the city-state were doing corporate volunteering. Large firms with revenue above S$100 million participated the most (60%), compared with just 13% of micro-businesses with revenue below S$1 million.
On average, companies contributed around 40 hours of volunteering per year, with some large firms contributing over 1,000 hours of community service annually, or more than 125 full workdays.
Jean Tan, Chief Executive Officer of the SBF Foundation and Chief Social Sustainability Officer of SBF, said, “No single business can achieve social impact at scale alone. It takes a connected eco-system where governments, corporates, and community partners come together with shared purpose.” /TISG
Read also: Former DBS CEO Piyush Gupta appointed as 17th S R Nathan Fellow for the Study of Singapore by IPS
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