International expansion is a milestone for many businesses—but taking the leap into new markets can be daunting. Costs for marketing, market research, legal setup and business development add up, often deterring small and medium enterprises (SMEs) from pushing beyond our shores.
Enter the Market Readiness Assistance (MRA) grant from Enterprise Singapore—a valuable support scheme designed to ease the financial burden of internationalisation. But who exactly qualifies? Let’s unpack it.
1. ⚙️ Eligible Entity Types
To be considered for the MRA grant, your business must meet the following:
- Be legally registered and operating in Singapore.
Structures like Private Limited companies, Sole‑proprietorships, Partnerships, and Limited Liability Partnerships are all accepted. - Have at least 30% local shareholding, directly or indirectly, by Singapore Citizens and/or Singapore Permanent Residents.
- Be an SME, defined as having either:
- Group annual turnover ≤ S$100 million, or
- Group employment ≤ 200 staff.
This ensures the grant supports locally rooted, growth‑oriented SMEs poised for overseas expansion.
2. 🌎 “New Market” Criteria
MRA is targeted at helping companies enter new overseas markets. To qualify under this:
- Your company’s annual sales in the target market must not have exceeded S$100,000 in any of the past three years.
This means you can apply even if you’ve done some limited business abroad—so long as it’s under that S$100K yearly threshold.
Good news: You may apply for MRA assistance across multiple new markets concurrently, as long as each market meets the “new market” condition.
3. 💰 Grant Support Structure
The MRA grant supports up to 50% of qualifying third-party costs, capped at S$100,000 per company per new market. These are divided across three pillars:
| Pillar | Activities Supported | Cap |
|---|---|---|
| Overseas market promotion | Marketing campaigns, trade fair booths, PR, online ads | S$20,000 |
| Overseas business development | Market research, lead generation, matching services | S$50,000 |
| Overseas market set‑up | IP filing, incorporation, tax advice, licenses, TCI | S$30,000 |
You must select one activity per application, per market. Each project must also be completed within 12 months, and applications must be made before activities start—no retrospective funding.
4. 📝 Documentation & Compliance
To apply, you’ll typically need to submit:
- Singapore BizFile and entity info
- Financial statements (audited or management accounts; newer companies can submit unaudited records)
- Proof of local shareholding
- Quotes from third-party vendors for the planned activity
- Project timeline within the 12-month window
Post-approval, claims are reimbursed upon submission of invoices, deliverables (e.g., IP certificates, market reports), and auditor verification. Note: funding is reimbursed only after completion, not upfront.
5. ✅ Who Is Eligible? Summary Checklist
To sum up, to qualify for MRA your company must:
- Be registered and operating in Singapore
- Have ≥30% ownership by SC/PR
- Be an SME (≤ S$100M turnover or ≤200 employees)
- Be targeting a new market (≤ S$100K sales in that market previously)
- Apply before the project starts, and complete within 12 months
6. 🧭 Aligning Business Timing & Strategy
To leverage MRA effectively:
- Ideal timing: Your business should be operational (typically at least 1 year), with a stable foundation in Singapore.
- Strategic use: Choose activities aligned with your market entry needs—whether it’s branding presence (promotion), lead generation (business development), or setup (licensing, IP).
- Multiple markets: You can apply simultaneously for different markets, each treated separately under the cap.
- Grant limits: Each activity type has its cap—plan funding wisely to maximise usage.
7. 📈 Why This Matters
The MRA grant addresses key risk areas in overseas expansion:
- Financial risk – Marketing campaigns, legal fees, trade show participation—all become more manageable.
- Strategic insight – Access to market research and partner connections that otherwise might be cost‑prohibitive.
- Regulatory readiness – Helps with IP protection, trade compliance and tax guidance in unfamiliar territories.
- SME competitiveness – Amplifies your international credibility and opens doors to more opportunities.
With up to S$100,000 of funding per market, MRA can be a game-changing boost for focused expansion.
8. 🎯 Real‑World Use Cases
- A tech firm setting up a subsidiary in Australia secures MRA to fund incorporation costs, IP registration, and trade partnerships.
- A food‑products SME uses the grant to attend a major trade fair in Japan with a marketing pop‑up and PR outreach.
- An e‑commerce startup hires a local agency overseas for lead generation and partnership building, leveraging the business‑development pillar.
Each pays only half of the vendor cost—up to their respective caps—making their international efforts more budget‑friendly and impactful.
9. 🧩 Tips to Maximise Success
- Plan early: Submit applications before any contracts or payments. If you’re attending a trade fair, don’t sign contracts until approved.
- Choose the right pillar: Align with the stage you’re at—branding? choose promotion. seeking partners? go for business development. launching a subsidiary? apply for set‑up.
- Build strong deliverables: Be ready with concrete outputs—like engagement reports, signed agreements, IP certificates—to smoothen claims.
- Bundle markets: Apply for different markets in parallel if your resources can support it—each market is treated separately.
- Monitor timing: Project must complete within 12 months, and claims submitted within a certain window after completion.
10. 📅 Timeline Overview
- Identify target market with ≤ S$100K past sales.
- Select activity and receive vendor quotes.
- Apply via Business Grants Portal before project starts.
- Begin project after letter of offer is issued.
- Complete within 12 months and collect deliverables.
- Submit claims (invoices, proof, deliverables).
- Receive reimbursement via GIRO after review.
Typical approval time is around 8–12 weeks, depending on application quality and volume.
11. 🤝 Combining with Other Schemes
- You can use Enterprise Development Grant (EDG) at the same time—but compare scopes. EDG supports productivity and transformation; MRA is strictly for overseas activities.
- Double Tax Deduction for Internationalisation (DTDi) may also apply to expenses not covered by MRA, helping you optimise total cost.
12. 🚀 Final Takeaway
The MRA grant empowers Singapore businesses to overcome early-stage internationalisation barriers with:
- Accelerated funding for overseas expansion
- Better market visibility and partner connections
- Leaner cost structures and risk mitigation
If your company meets the eligibility criteria—and you’re eyeing new markets—this grant can be the springboard for global growth.
📌 Call to Action
Ready to go overseas? Here’s what to do:
- Check your SME status, shareholding, and suitability for new‑market criteria.
- Choose your target market(s) and confirm eligibility.
- Decide which activity pillar matches your needs.
- Line up vendors, get detailed quotes.
- Apply before any vendor engagement.
- Execute, measure, and claim confidently.
In today’s global economy, moving early and wisely is key. The MRA grant removes a significant barrier—so you can focus on success, not sunk costs. Strategise well, invest smartly, and let MRA help you conquer the world.