To help Singaporean SMEs get a foothold in overseas markets, the Market Readiness Grant was set up to provide funds to take the first steps. The MRA will cover up to 80% of eligible costs (capped at $100,000) for each company in each new market.
The MRA Grant support level of up to 80% until 31 March 2022, and then 70% support will be extended until 31 March 2023. So you need to have everything in order to be able to apply for this grant.
To apply to these grants you need to be provided by a certified consultancy. We are a team of certified experts that have experience dealing with business abroad and understand foreign markets across the world. We specialize in helping SMEs achieve their goals according to the stage of development they are in.
- Overseas market promotion (capped at $20,000)
- Overseas business development (capped at $50,000)
- Overseas market set-up (capped at $30,000)
Who can apply?
1. Business entity is registered/incorporated in Singapore
2. New market entry criteria, i.e. target overseas country whereby the applicant has not exceeded $100,000 in overseas sales in each of the last three preceding years
3. At least 30% local shareholding
4. Group Annual Sales Turnover of not more than $100 million; or Company's Group Employment Size of not more than 200 employees
Secure a government supported Grant to reach new international markets
MRA (Market Readiness Assistance Grant) is a grant by Enterprise Singapore for established local SMEs to help them to improve their market knowledge, strengthen their capabilities and expand their networks, as well as to connect them to partners and opportunities overseas.
We are here to help you make the best of this opportunity. We help you ensure the financial support, strategize and fulfil a plan to make the most of international markets. Our comprehensive core capabilities will help you develop the most critical areas of your international business, in the areas of Advisory, Legal and Documentation, Business Matching, Overseas Marketing and Trade Fairs.
a confident step to success
We’ve created our solutions based on a comprehensive approach to cover all the core aspects for the creation of an successful market strategy for your businesses new geography. This with the goal of helping you in the process of applying for a government grant, to increase your chances of getting the grant and bringing out the best of your business potential in it's new market.
We make sure you have all the tools necessary to improve and strengthen your businesses international capabilities.
and Documentation Services
We provide you with a customized plan for expansion, professional guidance and current market information. Step by step, we help you make a confident step into new international markets. We have the knowledge to make it easier for you to deal with the documentation and legal processes. This covers aspects like Intellectual property, Representative Offices, Import and Export Licenses, Franchising, Joint Venture Agreements, and more.
We help you identify your potential overseas partners and facilitate a network for cooperative business ventures between the two parties. It will be the most efficient way for you to find and create an overseas collaboration. This includes aspects like Licensees and Franchises, Agents and Distributors, Joint Venture partners, and organized Face to Face meetings.
Overseas Marketing & PR
To move your product overseas you'll need to use different mediums to exchange the information about your brand. We help you to create brand awareness among your potential customers, bringing that first image and experience of your brand into their minds that will help them to make their purchase decisions. This includes areas like In-store Promotions, Road Shows, Pop-up Stores and Pitching.
Overseas Trade Fairs
Foreign Trade fairs are a great way to market and advertise your products. You'll get to meet your competitors, meet your potential customers as well as potential partners and collect information about new products and technologies developing the export trade industry. We help you make your brand stand out and achieve the recognition it deserves. This includes fundamental preparation such as Research and Initiation of Trade Shows in your industry, Design and Construction of Trade Fairs, and Virtual Trade Fairs.
A team of experts to accompany you in the development of the right strategies for you business
Constant search for ways of improving your process
Guidance on grant management
Full application and project development step by step