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.
CALL +65 98638665 if you need a quote or Email enquiry@shkoh.com.sg
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.
To qualify for the MRA Grant, your business must meet the following criteria:
Registered and operating in Singapore
At least 30% local shareholding
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.
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.
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.
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.
Applying for the MRA Grant involves a few key steps:
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.
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.
Await approval – Enterprise Singapore will assess your application, and you will be notified of the outcome.
Start your project – Once approved, you may proceed with your overseas expansion plans.
Claim the grant – After the project is completed, you must submit a claim through the same portal with all required supporting documents.
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
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.
CALL +65 98638665 if you need a quote or Email Tommyksh@shkoh.com.sg or visit us at 7500A Beach Road, The Plaza #09-324, Singapore 199591 (near Bugis MRT)
1. What is the MRA Grant?
Answer:
The Market Readiness Assistance (MRA) Grant is a funding support scheme by Enterprise Singapore that helps Singapore-based SMEs expand into overseas markets. It covers up to 70% of eligible costs, capped at S$100,000 per new market, for activities like market promotion, business development, and overseas market setup.
2. Who is eligible for the MRA Grant?
Answer:
To be eligible, your company must:
Be registered and operating in Singapore
Have at least 30% local shareholding
Have group annual sales turnover of less than S$100 million or fewer than 200 employees
3. What kind of activities can be funded under the MRA Grant?
Answer:
The MRA Grant covers three main areas:
Overseas Market Promotion (e.g., digital marketing, trade fairs)
Overseas Business Development (e.g., business matching, B2B meetings)
Overseas Market Setup (e.g., market research, legal and tax advisory)
4. What is considered a “new market” under the MRA Grant?
Answer:
A “new market” refers to a country where your business has not received the MRA Grant for the same activity within the past two years. This ensures that the grant supports fresh internationalisation efforts.
5. Do I need to apply for the MRA Grant before starting the project?
Answer:
Yes. Applications must be submitted and approved before any contracts are signed or work begins. Retrospective applications are not eligible.
6. How long does the MRA Grant approval process usually take?
Answer:
It typically takes about 8 to 12 weeks from the date of application, depending on the completeness of your submission and any clarifications required by Enterprise Singapore.
7. Why should I engage a grant consultant for my MRA application?
Answer:
A professional MRA grant consultant helps you:
Understand if your business qualifies
Identify eligible activities and costs
Prepare strong proposals and documentation
Work with pre-approved vendors
Ensure proper grant claim submission This greatly increases your chances of approval and reduces the administrative burden on your team.
8. What services do MRA grant consultants typically offer?
Answer:
Grant consultants usually provide:
Initial eligibility checks
Strategic planning of grantable activities
Proposal writing and application submission
Coordination with vendors
Post-project claim submission and audit prep
Some may also offer end-to-end project management to ensure compliance and success.
9. Can I apply for the MRA Grant for more than one country?
Answer:
Yes. You can apply for different countries, as long as each application targets a different market and covers eligible activities. The S$100,000 cap applies per market, giving businesses room to expand into multiple regions over time.
10. How can your consultancy help me maximise the grant amount?
Answer:
We work closely with you to structure your activities to align with the grant’s funding categories, ensure you work with Enterprise Singapore-recognised vendors, and craft a solid justification for each line item. Our goal is to maximize funding coverage, reduce rejections, and make the whole process efficient and hassle-free.
Koh Management (previously known as S.H. Koh Secretarial & Managament Pte Ltd) was founded by Director Koh Swee Hock in the Year 1984. Over the years, under the guidance of Mr Koh, it has since established a reputation for quality and professionally accounting and secretarial services for SMEs and young start-ups. With 30 over years of experience and also a young team working with him to expand his business within the startup circle, Koh Management has grown from strength to strength.
Koh Management takes pride in the work assigned to them and always goes the extra mile to ensure that our clients are provided with quality services and solutions for their businesses. Should you require any assistance about your business process, administrative matters, feel free to contact our friendly staff at Koh Management. We look forward to serving your business needs.
Koh Management is currently working with K Cloud Accounting Pte Ltd to provide Xero Accounting Services for startup companies through Cloud Based Accounting Software Services for SMEs & Startups. If you are keen on working with us through Cloud accounting, we are keen to talk to you about this!
Accounting Services, Corporate Secretarial Services, Unaudited Financial Reporting, Payroll Services, Tax Advisory & Computation and Filing in Singapore