Market Readiness Assistance Grant (MRA Grant) – Globalisation

Looking to expand your business overseas? The Market Readiness Assistant (MRA) Grant in Singapore can help. This funding initiative provides financial assistance to companies seeking to globalse your business and establish partnerships such as Franchisees/Licensees, Agents/Distributors, Joint Venture Partners and Cross Border Logistic Partners with foreign counterparts and improve their competitiveness in the global market.

With this grant, you can access a range of resources and services to help you achieve your international business goals.

Finnex’s business consulting platform is dedicated to guiding and empowering local businesses to qualify for and maximise the benefits of the MRA Grant.

You can expect personalised and strategic support every step of the way. From comprehensive market assessment to tailored market entry strategies, we are committed to equipping you with the knowledge and tools needed to succeed in the global marketplace.

*Support Period Extended Till 31st March 2026 (Singapore Budget 2025)

What is MRA Grant?

The Market Readiness Assistant or MRA grant, is a funding initiative provided by Enterprise Singapore to support Singaporean companies in their efforts to expand their business overseas. The grant provides financial assistance for companies seeking to establish partnerships with foreign counterparts and improve their competitiveness in the global market.

The MRA provides funding support for a range of activities, including market research, business development, and marketing activities.

The grant also provides support for companies to participate in trade shows and exhibitions overseas, which can help them establish new business relationships and gain exposure to new markets.

How Does an MRA Grant Work?

Why Should Companies in Singapore Apply for the MRA Grant?

The MRA grant provides financial assistance to SMEs looking to expand their businesses overseas, which can be a costly and risky endeavor. Providing funding for market entry and expansion activities, the grant can help SMEs mitigate some of the risks associated with international expansion and increase their chances of success.

Additionally, the MRA grant can help SMEs gain a better understanding of the overseas market they are targeting, which can help them tailor their products or services to better suit the needs of their potential customers. This can ultimately lead to increased sales and revenue for the company.

Moreover, this grant can also help SMEs build their brand and reputation overseas, which is important for establishing credibility and trust with potential customers.

Step-by-Step Guide to Securing and Utilizing the MRA Grant

Consultation & Assessment

Initial Consultation: Meet with our experts to discuss your business goals and grant eligibility.
Assessment: Evaluate your project needs and determine how the MRA Grant can support your objectives.

Application Preparation

Document Collection: Gather necessary documents including project proposals and budget plans.
Project Proposal: Our consultant shall create the proposal detailing the project scope of works for your approval.

Submission & Review

Application Submission: Submit your Grant application to Enterprise Singapore via the Business Grants Portal.
Review Process: Enterprise Singapore reviews your application, and we assist with any additional information required.

Grant Approval

Notification: Receive the grant approval and Letter of Offer from Enterprise Singapore.
Letter of Offer Acceptant: View and accept the Letter of Offer in Business Grants Portal.

Project Execution

Initialisation: Execute your project as per the approved scope of works.
Monitoring & Support: Our team provides ongoing support to ensure project success and compliance with grant conditions.

Reporting & Reimbursement

Final Report: Submit a final report detailing project outcomes and expenditure.
Reimbursement: Receive reimbursement for eligible expenses according to grant guidelines.

Who Is Eligible for the MRA Grant?

The MRA grant is available to Singaporean small and medium-sized enterprises (SMEs) that meet the following criteria:

Registered and operating in Singapore
Have a minimum of 30% local shareholding
Have a Group Annual Sales Turnover of not more than S$100 million or a group employment size of not more than 200 employees

When Can Companies Apply for the MRA Grant?

The MRA Grant offers valuable support for companies seeking to enhance their business operations and initiatives. Understanding the timing for applying can help you take full advantage of this opportunity. Here’s what you need to know:

Apply Anytime

Companies can apply for the MRA Grant at any time, provided they meet the eligibility criteria. There are no specific application windows or deadlines, giving you the flexibility to apply when it best suits your business needs.

Subject to Fund Availability

The grant is awarded based on the availability of funds. Since funding is limited, applications are considered on a first-come, first-served basis. It’s advantageous to apply early to increase your chances of securing the grant.

Prepare in Advance

To make the most of your application, ensure that you have all necessary documentation and information ready before applying. Thorough preparation can help streamline the process and improve the likelihood of approval.

Stay Informed

Regularly check for any updates or changes to the MRA Grant program. Staying informed about the latest guidelines and funding status can help you plan your application effectively and align with current requirements.

How to Apply for the MRA Grant?

Applying for the MRA Grant is a streamlined procedure that conveniently allows completion online.

The initial step involves submitting your application via the Business Grants Portal, along with essential supporting documents encompassing an elaborate project proposal and comprehensive budget.

The grant officer will evaluate the grant application and inform successful candidates through a Letter of Offer. Please note that a Corppass account is necessary for all transactions on the portal.

To be eligible for funding under the MRA Grant, it is essential to refrain from making any upfront payments or deposits, entering into any binding agreements, or initiating any projects prior to submitting your application. This requirement has been put in place to allow the grant officer to thoroughly review the project before any significant investments are made.

Upon receipt of the Letter of Offer, the company has to execute and complete the project within stipulated timeframe and subsequently lodge its claim for disbursement to Enterprise Singapore. It should be emphasised that Enterprise Singaporestrictly adheres to a non-retrospective policy and will not entertain any applications submitted after the specified deadline.

To ensure a smooth application process and secure funding, it is crucial for applicants to meticulously strategise their projects and submit their grant proposals well ahead of time. Adhering to these essential steps can help applicants tap into the opportunities provided by the MRA Grant, enabling them to effectively expand their business operations on a global scale.

Where Can Applicants Check the Status of Their Grant Application?

To check the status of your grant application, follow these steps:

1. Wait for an email: After submitting your grant application, you will receive an email with the status of your application. This email will be sent to the contact person of your company.

2. Log in to the BGP: Alternatively, you can log in to the BGP (Business Grant Portal) using your credentials.

3. Navigate to the “My Grants” section: Once logged in, locate the “My Grants” section on the BGP homepage.

4. Toggle between tabs: In the “My Grants” section, you will find different tabs such as “Drafts,” “Processing,” “Actions Required,” and “Completed.” Toggle between these tabs to view the status of your grant application.

5. Review the status: Each tab represents a different stage of the application process. Check the tab that corresponds to the current status of your application to see any updates or actions required.

6. Respond to clarification requests: If your application requires further clarification, you will receive a reminder email. You can make the necessary clarifications directly through the BGP.

Can SMEs apply for the MRA Grant?

How Many Times Can a Company Apply for the MRA Grant?

The MRA grant offers an opportunity for small and medium-sized enterprises (SMEs) to secure financial assistance for their projects and facilitate the expansion of their businesses into international markets.

SMEs can receive support that covers up to 50% of eligible expenses, with a limit of $100,000 for each new market ventured into. This grant serves as a valuable resource for SMEs seeking to explore and establish their presence in overseas markets/

Update: During the period from 1 April 2020 to 31 March 2026, companies that have previously received benefits from MRA, but have not achieved overseas sales exceeding S$100,000 for that market, will still be eligible for continued support. However, companies that have already utilised the maximum S$100,000 support for a particular market within the mentioned period will no longer be eligible for any further MRA grants for that specific market.

Market Readiness Consultation – Business Matching

With our strategic partners, FMC can conduct business matching activity for SMEs in South-east Asia, East Asia, Oceania, Middle East.

The key activities conducted are:

Business Profiling & Partner Suitability Analysis
Partners Sourcing
Partners Shortlisting
Meeting Scheduling & Facilitation

In the activity, SME owners would travel aboard to meet the shortlisted partners face-to-face with our representative.

The application takes around one month to approve after submission via Bizgrant portal.

The claim process can take up to two months after project completion.

Singapore SME has the opportunity to submit multiple applications for MRA grants, as the number of applications is not restricted. However, it is important to note that each grant can only be utilised for a single activity and for a duration of up to 12 months.

Eligible companies may also apply for additional grants concurrently, including the Enterprise Development Grant (EDG).

The MRA grant encompasses a wide range of eligible activities, such as:

Overseas Market Promotion (capped at S$20,000) – Ventures abroad for business expansion, including engagement in physical and virtual trade exhibitions (not previously assisted by LEAD International Fairs & Missions), international marketing and public relations initiatives.
Overseas Business Development (capped at S$50,000) – Business Matching endeavours to foster collaborations with potential licensees, franchisees, agents, distributors, cross board logistic partners or joint venture partners. Additionally, overseas market business development on deployment are supported.
Overseas Market Set-up (capped at S$30,000) – Establishing operations overseas, including legal documentation and market entry costs, along with comprehensive advisory services about the Free Trade Agreement (FTA) analysis and compliance.

See the tables below for comprehensive breakdown of eligible activities:

OVERSEAS MARKET PROMOTION ($20,000 per new market)

	Supportable Activities	Examples of Deliverables
Overseas Marketing and PR	Third-party costs incurred for: • Launch of marketing and PR activities including the launch of in-store promotions, road shows, pop-up stores, fashion shows, developing social media presence such as through ads and content-seeding, online media coverage on various media platforms (e.g. press, blogs) • Pitching of products, services, technology and industry capabilities of Singapore at overseas physical and virtual business/trade conferences	Proof of completion may include but not be limited to the following: • Event write-up attached with corresponding materials such as photographs and publicity materials • Overall roadmap/communication plan of activities that have been completed • Invoices/receipts/bank statements for payment made to a third-party vendor such as proof of payment for costs incurred
Participation in Overseas Physical and Virtual Trade Fairs NOT supported under LEAD International Fairs & Missions (LEAD)	Overseas Physical Trade Fairs Third-party costs relating to: • Space rental (capped at 36 square metres) • Booth design and construction (capped at 36 square metres) • Pitching of products, services, technol	Proof of completion may include but not limited to the following: Overseas Physical Trade Fairs • Event write-up attached with corresponding materials, such as exhibitor listing, photographs of booth setup, publicity materials which reflects the company’s name • Invoices/receipts/bank statements for payment made to third-party vendor such as proof of payment for costs incurred
	Virtual Trade Fairs Packaged fees charged by Event Organisers relating to: • Virtual Exhibition hall & Booth access • Collateral creation (EDMs, booth writeup) • Business Meeting/Matching sessions • Pitches/ Product launches / Speaking Slots • Webinar/ Conference • Post Event Analytics	Proof of completion should include but not limited to the following: Virtual Trade Fairs • Screenshots of exhibitor listing, publicity materials, virtual booths, virtual business meetings/matching sessions, post event analytics report product samples for virtual fairs (where available and/or applicable) • Invoices/receipts/bank statements for payment made to third-party vendor such as proof of payment for costs incurred
	Third party costs relating to • Publicity (design and production of digital collaterals, promotion materials) for trade fairs and virtual fairs • Logistics costs for virtual fairs only (transportation of materials/samples overseas)	Proof of completion should include but not limited to the following: • Event write-up attached with corresponding materials, such as photographs of booth setup, publicity materials and exhibitors’ listing which reflects the company’s name • Invoices/receipts/bank statements for payment made to third-party vendor, such as proof of payment for the costs incurred
	Note: Excludes all Overseas Physical Trade Fairs and Virtual Trade Fairs supported under the Local Enterprise and Association Development (LEAD) Programme

OVERSEAS BUSINESS DEVELOPMENT (Capped at $50,000 per new market)

	Supportable Activities	Examples of Deliverables
Business Matching	Third-party costs incurred to identify potential partners and/or customers (B2B) including the following: • Licensees/franchisees • Agents and distributors • Joint venture partners • Cross-border logistics partners	Consultancy report on the profile of potential customer segment(s) for the Applicant in the selected market and business matching outcomes: • Market Analysis • List of Potential Partners and Their Profiles for Selection • Documentation on the scheduled business meetings with selected partners such as pictures of meetings, name cards of potential partners • Assessment of the suitability of the selected partner(s) and business matching outcomes.
Overseas Marketing Presence (OMP)	Costs incurred for: • Basic salary of 1 permanent Business Development (BD) staff stationed in the overseas market • Office space rental for the purpose of BD work • Companies may seek support for hiring of BD staff only. Standalone office space rental expense (without hiring of BD staff) is not supportable. • Project support is pegged at 30% if the BD staff is a foreigner. • The BD staff: – Should be a permanent staff of the company i.e., not hired only for the duration of project – Should be stationed in the market for the entire project duration (remote working is not supportable) – Need not be a new hire but he/she must not have commenced BD work for the market prior to application submission – Should not hold concurrent roles in the company e.g., staff is BD and operation manager. • There should not be concurrent Overseas Marketing Presence and In-market Business Development applications for the same market. Applicant can post Singaporean/PR/foreigner to be based in the OMP to conduct marketing/BD work.	Proof of completion may include but not limited to the following: • Proof of business development and marketing activities conducted by the BD staff in the market (e.g., business meetings conducted, report detailing progress/milestones achieved)
In-market Business Development	Third-party costs incurred for outsourced Business Development (BD) services such as: • Recruitment and/or preparation of local in-market BD personnel • BD efforts to reach out to new business leads • Review of market entry strategy (e.g., advice on setting up of entity) Please note: Companies should not have concurrent Overseas Marketing Presence and In-market Business Development applications.	Proof of completion should include but not limited to the following: Consultancy report which includes: • Documentation of activities conducted by in market BD personnel (e.g., business meetings conducted) • Outcomes of BD efforts (e.g., leads generated, contracts signed) • Market updates, including consultant’s advice for setting up of entity or strategy for future efforts in the market

OVERSEAS MARKET SET-UP (Capped at $30,000 per new market)

	Supportable Activities	Examples of Deliverables
Market Entry	Third-part costs incurred for any of or a combination of the following project types: • Intellectual Property (IP) registration*, including where applicable – Prior art search – Examination costs • Incorporation/registration of entity, including where applicable – Legal/compliance advisory, name search – Other mandatory costs required as part of incorporation (e.g., application for mandatory license(s) and certificate(s), registration with/approvals from relevant government authorities, creation of corporate bank account) – Translation fees for legal documents • Tax consultancy or implementation of recommended tax structures • Import and export licenses/certificates, including where applicable – Mandatory registration with/approvals from relevant government authorities • Drafting of franchising/licensing/agency/ distributorship/joint venture agreement(s) (limited to the first set of agreement only) • Trade credit insurance (TCI)	Depending on the project scope, proof of completion may include but not limited to the following: • IP registration: acknowledgement letter / certificate of registration / filing documents submitted to authorities • Incorporation/registration of entity: certificate of entity registration, copies of mandatory license(s) or permit(s) obtained • Implementation of recommended tax structures: consultancy report • Import and export licenses: copy of licenses obtained • Drafting of agreement(s): copy of agreement(s) • Trade credit insurance: report/certificate
FTA and Trade Compliance Consultancy^	Third-party consultancy/advisory/legal costs incurred for: • In-depth assessment to identify opportunities available in Free Trade Agreements (FTAs) • Trade compliance assessment • Customs compliance processes (including export controls & sanctions, application for Customs ruling) • Setting up internal system or standard operating procedure (SOP) to ensure trade compliance and FTA documentation	Proof of completion may include but not limited to the following: • Assessment/analysis report • Copies of customised manual, guidelines and Standard Operating Procedures (SOP)

The Singapore applicant must own the Intellectual Property to be filed and registered in the overseas market. Trademark/Patent filings applications for Singapore are not supportable.

What are the Factors That May Lead to the Rejection of the Application?

An application may be rejected for different reasons such as:

A company which does not meet the eligibility criteria (Refer to the first question above)
A company holding a shell business registration or having its main business operations outside Singapore
A non-profit organisation
A company seeking support for the purpose of fundraising or increasing domestic sales.

Why Should Companies Apply for the MRA grant?

To optimise the advantages provided by the MRA Grant and guarantee a prosperous venture in international business development, adherence to the subsequent guidelines is highly recommended:

Perform extensive market analysis to gain a deep understanding of the specific target market and ascertain potential clientele.
Formulate an extensive marketing strategy to effectively showcase and advertise your offerings within the designated market segment.
Develop connections with nearby collaborators, distributors, and providers to bolster your market influence.
Engage in international trade expositions and diplomatic excursions to augment recognition and establish trustworthiness.

Key Steps for Successful Overseas Expansion

The MRA grant is available to Singaporean small and medium-sized enterprises (SMEs) that meet the following criteria:

Registered and operating in Singapore
Have a minimum of 30% local shareholding
Have a Group Annual Sales Turnover of not more than S$100 million or a group employment size of not more than 200 employees

Claims

Here is a guide on submitting your claims and getting your project expenses audited:

1. Ensure all claims, along with their supporting documents, are submitted exclusively through the Business Grants Portal. It is important to complete this process within three months from the project end date.

2. To ensure accuracy and compliance, your project expenses will need to be audited by an auditor approved by Enterprise Singapore (ESG). This audit fee grant can be claimed, with a maximum limit of $500 or the support level specified in Annex 1 of the Letter of Offer, whichever is lower.

3. The contact details of ESG-approved auditors will be conveniently provided in the annex section of your Letter of Offer. Make sure to refer to this annex to find the appropriate auditor for your project.

4. It’s important to note that the MRA grant is administered solely on a reimbursement basis. This means that you will need to pay for the expenses initially and then submit a claim for reimbursement.

5. Depending on the specific requirements of your project, you may be asked to provide additional documents as proof of completion such as a comprehensive report detailing potential customers or partners, a write-up describing an event, or evidence of your participation in trade fairs.

Why Choose Finnex Management Consulting:

Specialised Expertise: Our team has a deep understanding of the MRA Grant requirements and processes, allowing us to provide tailored support to Singaporean businesses.
Proven Track Record: We have a strong track record of helping businesses successfully qualify for the MRA Grant, demonstrating our commitment to delivering results.
Proven Methodology: Our Partners Suitability Analysis and Metrics (“PSAM”) lowers the non-performance risks and increase the probability of success rate for the potentials identified.
Personalised Approach: We understand that each business is unique, and we tailor our services to meet the specific needs and goals of our clients.

If you’re a business owner in Singapore looking to access the MRA Grant, Finnex is here to help.

Contact us today to learn more about how we can support your business in qualifying for this grant opportunity.

Frequently Asked Questions

1. Is it possible for a company that already has a presence or sales overseas to seek MRA support?

During the enhancement period from 1 April 2020 to 31 March 2025, companies that have previously experienced benefits from the Market Readiness Assistance (MRA) program, but have not achieved overseas sales exceeding S$100,000 for a specific market, will continue to receive support.

However, it should be noted that companies that have already utilised the maximum S$100,000 support for a particular market within the aforementioned period will no longer be eligible for any further MRA grants for that specific market.

2. Can a company simultaneously apply for MRA support in multiple new markets?

Certainly, provided that the stipulated market criteria are fulfilled and the projects fall within the respective sub-cap of the activity grant.

3. If both the parent company and its subsidiary apply for the MRA Grant, will they be subject to the S$100,000 cap?

If both the parent company and its subsidiary apply for the MRA Grant, they will be subject to the S$100,000 cap individually. Each eligible entity can receive up to S$100,000 in MRA support, subject to meeting the grant requirements.

4. Are group applications, where two or more companies are listed as applicants in a single form, permissible?

It is not permissible for both companies to submit a joint application. Each company is eligible to apply for a singular activity within an individual application.

5. Do sole proprietors and partnerships qualify for the MRA Grant?

Yes, Enterprise Singapore is eager to gain insights into the global growth strategies adopted by individual proprietors and collaborative partnerships. Each application shall be meticulously evaluated considering its unique circumstances and merits.

6. Can a company seek the MRA grant while also availing of financial schemes provided by Enterprise Singapore or other government agencies?

It’s not possible for companies to apply for the MRA grant after obtaining grant approvals from Enterprise Singapore or other relevant agencies for identical eligible expenses or events.

7. Is it feasible for a company to apply for both the Enterprise Development Grant (EDG) and MRA Grant support simultaneously?

It is not feasible for a company to apply for both the Enterprise Development Grant (EDG) and MRA Grant support simultaneously for the same project. Companies are encouraged to assess their internationalisation needs and choose the most suitable grant based on their expansion plans.

8. Is it possible for a foreign company to apply for an MRA grant?

Foreign companies are not eligible to apply for the Market Readiness Assistance (MRA) Grant in Singapore. The MRA Grant is specifically designed to support Singapore-registered businesses in their internationalisation efforts. Foreign companies seeking similar support for their international expansion may need to explore other programs or grants available in their respective countries.