Understand how this grant can help you in your company’s digital transformation strategy
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
Outcomes and Impacts
- 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
Working hand in hand with the best digital teams globally
and many more ...