About Market Readiness Assistance
Small and medium-sized companies in Singapore will benefit from the Market Readiness Assistance (MRA) grant, which will provide essential support on their initiative to expand internationally. The MRA Grant supports up to 70% and will be valid until March 31, 2023. With effect from 1 April 2021, MRA will also be extended to include Trade Credit Insurance (TCI) as a supportable subject under the overseas market set-up pillar.
Grant Capped at S$20,000 per new market.
Supporting activities include:
- Participation in Overseas Physical Trade Fairs: Third-party costs charged by Event Organisers relating to Space rental & Booth design and construction.
- Virtual Trade Fairs: Fees charged by event organisers relating to virtual exhibition hall & Booth access, Collateral creation (EDMs, booth write up), Business Meeting Sessions, Product Launches, and Post Event Analytics
Grant Capped at S$50,000 per new market.
Supporting activities include:
- Business Matching: Third-party costs incurred to identify potential partners and/or customers (B2B), including licenses, agents and joint venture partners.
- Overseas Marketing Presence (OMP): Purpose of marketing and business development; Project-specific eligible expenses include the salary of one (1) permanent business development employee and rental of OMP.
- In-Market Business Development: Third-party costs relating to subscription costs of outsourced business development services for up to twelve (12) months.
Grant Capped at S$30,000 per new market.
Supporting activities include:
- Market Entry: Advisory, legal and documentation expenses relating to name search, intellectual property search and application, filing and registration for sale/ representative offices or equity entity, implementation of recommended tax structures, import and export licenses, drafting franchising, licensing, agency, distributorship and joint venture agreements, trade credit insurance.
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What We Do
Business Matching
Our matching system provides a safer, easier, and faster approach to engage trustworthy service providers within our network to assist businesses in their requirements in market expansion across Asia.
Business Expansion
We provide our clients with the necessary transparency. Our extensive network and dedication had aided our roadmap to success. We seek to deliver outstanding experiences on any business requirement for expansion.
Market Research
We employ technology to streamline what would otherwise be a laborious conventional approach of researching regulation, assessing a potential market, and identifying industry consumer sentiment.
Our Network
China Business Expansion
We collaborate with our key partners and broad network in China to serve and assist Singapore businesses set foot into Asia's largest economy.
Frequently Asked Questions
To be eligible for the MRA Grant, businesses are required to be:
- At least 30% local equity in a Singapore-registered/ incorporated business.
- Group Annual Revenue of not exceeding S$100 million, or
- Organization Employment Size of not more than 200 employees/ workers.
- New to the target international market/ overseas market (at country-level).
A new overseas country is defined when annual revenue obtained in foreign sales did not surpass S$100,000 in each of the previous three years.
The grant cap is valid from 1 April 2020 to 31 March 2023, and it includes activity sub-caps of:
- 20,000 SGD for Overseas Marketing & Promotion
- 50,000 SGD for Overseas Business Development
- 30,000 SGD for Overseas Market Set Up
Enterprise Singapore is interested in learning about the international expansion plans of each business. Applications will be evaluated individually, on a case by case basis.
Yes, as long as the new market requirements are satisfied and projects fall within the parameters of each activity award sub-cap.
Yes, qualified businesses may apply for funding under both the EDG and the MRA grant, as long as the scope of task and activities covered are not the same.
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