Market Readiness Assistance (MRA) Grant

If you are a Singapore Small and Medium Enterprise (SME) looking to venture into the international market, the Market Readiness Assistance (MRA) grant is an excellent opportunity to gain financial support. Administered by the Singapore government, this grant is specifically designed to help Singapore companies take their first steps towards internationalisation. It provides funding for a range of business development and marketing activities that can help SMEs grow and expand their reach overseas. The MRA grant is an ideal way to help Singapore SMEs break into the international market, providing much-needed support to the business.

The MRA grant can cover up to 70% of eligible costs, capped at S$100,000 per company per new market, which refers to a target overseas country where the applicant has not exceeded S$100,000 in overseas sales in each of the last three preceding years. The total ceiling support of S$100,000 is divided across the three MRA pillars as follows:

• Overseas market promotion - capped at S$20,000
• Overseas business development - capped at S$50,000
• Overseas market set-up - capped at S$30,000

Further notes you'll need to take note off: 

• There are no pre-approved vendors for this grant (except those on EnterpriseSG’s list of FTA and Trade Compliance consultants).
• The previously-enhanced grant support levels were extended for a time-limited period given the exceptional disruptions brought about by the COVID-19 pandemic, to encourage the transformation of the economy and to help businesses emerge stronger from the pandemic.
• All MRA claims are subject to audit, by an auditor from EnterpriseSG’s Pre-Qualified Panel. The cost of audit starts from $200, dependent on the audit’s scope. Audit costs are supported by EnterpriseSG, as per the Letter of Offer.
• Prior to the submission of claims via the Business Grant Portal, applicants should ensure all necessary documents (such as the Letter of Offer and all addendum letters) are submitted to their selected auditor.

Elibility Criteria on the MRA Grant for your Business

• Business entity registered and operating in Singapore
• Company has at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
• New to target overseas market; The company’s annual sales in the target market must not have exceeded S$100,000 in any of the preceding three years
• Company has a Group Annual Sales Turnover not exceeding S$100 million OR a Group employment size not exceeding 200 employees

*Note: Employers eligible for the SkillsFuture Enterprise Credit can qualify for additional subsidies under the scheme.
(Yup, that means you'll be able to takeaway more costs and mitigate the risk of entering New Markets!)

• Easily grow your business in the new market to increase leads, sales, and revenue
• Focuses on building a strong foundation for your brand, which in turn increases brand equity in a new market
• Build trust and authority with your customers, and develop a strong reputation to be competitive in the market

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