Expanding into international markets is a significant milestone for any business, but the process can be costly and complex. That’s where the Market Readiness Assistance (MRA) Grant comes in. Designed to support Small and Medium Enterprises (SMEs) in Singapore, the MRA Grant provides financial assistance to companies that are looking to grow their presence in overseas markets.
What is the MRA Grant?
The MRA Grant is a government initiative aimed at helping Singapore-based SMEs take their business global. It provides up to 50% support on eligible costs, with a maximum cap of S$100,000 per company per new market. This support is divided into three main categories:
- Overseas Market Promotion – Up to S$20,000
- Overseas Business Development – Up to S$50,000
- Overseas Market Setup – Up to S$30,000
Each application can only cover one overseas market and one activity. This allows businesses to focus their efforts and resources strategically, ensuring higher success rates when entering new territories.
Benefits of the MRA Grant
By tapping into the MRA Grant, businesses can:
- Reduce the financial risk of overseas expansion
- Access new markets more confidently
- Build brand awareness internationally
- Connect with global customers, partners, and distributors
- Establish a local presence in a foreign market
Eligibility Criteria
To qualify for the MRA Grant, your business must:
- Be registered and operating in Singapore
- Have at least 30% local equity (held directly or indirectly by Singaporeans or PRs)
- Have a group annual turnover of not more than S$100 million OR employ not more than 200 employees
- Be entering a new overseas market, defined as having less than S$100,000 in annual sales in that market over the past three years
Supported Activities
The MRA Grant covers a wide range of activities across the three main categories:
1. Overseas Market Promotion
Helps your brand gain visibility in new markets. Supported activities include:
- Marketing campaigns (online and offline)
- Public relations efforts
- Participation in overseas trade fairs (both physical and virtual)
- Social media marketing targeted at overseas audiences
- Production of promotional materials
2. Overseas Business Development
Facilitates direct engagement with new clients and partners. Supported activities include:
- Business matching and partner identification
- In-market business development consultancy
- Representation through outsourced sales or marketing teams
- Deployment of staff to target markets to oversee business expansion
3. Overseas Market Setup
Supports foundational work to set up operations in new markets. Supported activities include:
- Incorporation of a business entity overseas
- Intellectual property registration
- Legal, tax, and compliance advisory services
- Trade documentation and licensing
How to Apply
Applying for the MRA Grant involves the following steps:
- Identify Your Target Market Ensure the overseas market you are entering is “new” by verifying that your sales in that country haven’t exceeded S$100,000 in any of the past three years.
- Select Your Activity and Vendor Choose one activity (e.g., marketing, business development, or market setup) and an appropriate vendor to support the execution.
- Prepare the Application Gather your company’s documents, such as financial statements, ACRA Bizfile, and a clear project proposal detailing objectives, timeline, and cost breakdown.
- Submit via Business Grants Portal Submit your application online through the official portal. Make sure the information provided is accurate and complete to avoid delays.
- Receive Approval Once approved, you will receive an official Letter of Offer detailing the grant amount and any additional terms.
- Start Your Project You can begin your project only after receiving approval. Retrospective applications (for projects that have already started) are not allowed.
- Submit Claims Upon project completion, submit your claims along with invoices, proof of payment, deliverables, and a final report. An audit may be required for claim verification.
Why Use the MRA Grant?
International expansion requires both strategy and investment. The MRA Grant offers financial relief and structured support so you can focus on executing your global ambitions with confidence. Whether you’re promoting your brand, finding partners, or setting up your first overseas office, the MRA Grant can make a real difference in your growth journey.
Need Help with Your MRA Application?
If you’re looking to explore new markets and want to leverage the MRA Grant, we can help. Our team offers end-to-end assistance—from identifying eligible activities to preparing and submitting your application. Reach out to us today and let’s bring your business to the world.