MRA Grant Consultant for your SME business

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What is the MRA Grant?
 

In today’s highly competitive global market, expanding beyond Singapore’s borders is no longer a luxury but a necessity for many businesses. Whether it’s tapping into new customer bases, building brand presence overseas, or finding new channels of distribution, internationalisation can unlock significant growth potential. But for many small and medium-sized enterprises (SMEs), venturing abroad comes with high costs and complex planning. That’s where the Market Readiness Assistance (MRA) Grant comes in.
 

The MRA Grant is a government initiative by Enterprise Singapore designed to support local SMEs in their journey to enter and establish a presence in overseas markets. It provides funding support for various activities that help businesses expand internationally, making it a valuable tool for SMEs that want to grow strategically while managing risks and costs.
 

Purpose of the MRA Grant
 

The MRA Grant is specifically aimed at encouraging and enabling Singapore-based SMEs to go global. The government recognises that expanding overseas can be daunting, especially for smaller businesses that may not have the financial bandwidth to invest heavily in market research, overseas marketing, or compliance consulting. The grant helps to reduce some of these financial burdens, allowing companies to focus on building a strong, sustainable international footprint.

With the MRA Grant, SMEs can receive up to 70% funding support, capped at S$100,000 per new market per application. This grant covers a range of qualifying activities such as market entry, market promotion, and business development.
 

Who is Eligible for the MRA Grant?
 

To qualify for the MRA Grant, your business must meet the following criteria:

1. Registered and operating in Singapore

2. At least 30% local shareholding

3. Group annual sales turnover of less than S$100 million or employment size of less than 200 employees
    

These eligibility conditions are designed to ensure that the grant truly supports SMEs and not large enterprises that typically have the financial resources to expand independently.
 

What Does the MRA Grant Cover?
 

The MRA Grant covers three key categories that are essential for overseas expansion:
 

1. Overseas Market Promotion
 

This includes activities like:

• Participation in overseas trade fairs

• Marketing and PR campaigns in target markets

• Digital advertising and social media marketing for foreign audiences

• Listing on overseas e-commerce platforms

Marketing is essential when entering a new market. The MRA Grant allows businesses to build brand awareness and generate leads in foreign markets without bearing the full brunt of the costs.
 

2. Overseas Business Development
 

This covers:

• Business matching services (e.g., finding overseas distributors, partners, or customers)

• Setting up meetings with potential partners

• Negotiation support

It’s often difficult to find trustworthy partners in a new market. With the MRA Grant, companies can engage consultants or trade agencies to assist with reliable business matching.
 

3. Overseas Market Setup
 

This includes:

• In-depth market research

• Feasibility studies

• Legal and tax advisory for market entry

• Intellectual property (IP) advice

Entering a new market without understanding its business environment can be risky. The MRA Grant supports companies in seeking professional advice to ensure their expansion strategy is sound and compliant with local regulations.
 

How Much Can You Get?
 

As of the latest structure, the MRA Grant supports up to 70% of eligible costs, capped at S$100,000 per new market. This includes:

• Overseas market promotion: Capped at S$20,000

• Overseas business development: Capped at S$50,000

• Overseas market setup: Capped at S$30,000
   

These caps help ensure the funds are allocated fairly and efficiently, while also encouraging SMEs to be strategic with their spending.
 

What is Considered a "New Market"?
 

A "new market" refers to a country where the applicant has not received the MRA Grant for the same activity in the past two years. For example, if a company received MRA funding for business matching in Indonesia in 2023, it can only apply for a similar activity in Indonesia again after two years. However, it can apply for different activities in Indonesia, or pursue funding for a different country in the meantime.
 

This condition ensures that the grant is used to drive fresh internationalisation efforts rather than repeated activities in the same markets.
 

How to Apply for the MRA Grant
 

Applying for the MRA Grant involves a few key steps:

1. Engage a pre-approved third-party vendor – To be eligible for the grant, you need to engage consultants or service providers that are recognised or approved under Enterprise Singapore’s framework.

2. Submit your application – Applications must be submitted through the Business Grants Portal (BGP). Ensure that you submit the application before signing any contracts or commencing the project, as retrospective claims are not allowed.

3. Await approval – Enterprise Singapore will assess your application, and you will be notified of the outcome.

4. Start your project – Once approved, you may proceed with your overseas expansion plans.

5. Claim the grant – After the project is completed, you must submit a claim through the same portal with all required supporting documents.
    

Tips for a Successful MRA Application
 

Here are some practical tips to help improve your chances of success:

• Be specific and realistic in your project proposal

• Show how the activity contributes to your overseas expansion goals

• Use pre-approved vendors for ease of application and faster approvals

• Keep proper documentation for all expenses and activities

• Start small and scale up – test your strategies in one market before replicating
   

Why the MRA Grant Matters for Singapore SMEs
 

In a small domestic market like Singapore, growth often comes from looking outward. Yet, the high cost and risks of internationalisation can deter SMEs from venturing abroad. The MRA Grant plays a crucial role in bridging this gap. It gives SMEs the financial and strategic support needed to explore new markets confidently and responsibly.

Whether it’s through discovering new customer segments, developing strategic partnerships, or building a global brand, the MRA Grant empowers local businesses to think and act globally. It also aligns with Singapore’s broader goal of positioning its enterprises as globally competitive players in the region and beyond.