Expand Your Business Overseas with the Singapore MRA Grant: What You Need to Know

Singapore has long positioned itself as a global business hub, and for many local enterprises, the next logical step in growth is overseas expansion. However, venturing into international markets comes with its own set of challenges — from understanding foreign regulations to bearing the high costs of market entry. That’s where the Market Readiness Assistance (MRA) Grant by Enterprise Singapore comes in.

This article breaks down everything you need to know about the MRA Grant and how it can help your SME take that crucial leap into new international markets.

What is the MRA Grant?

The Market Readiness Assistance (MRA) Grant is an initiative by Enterprise Singapore designed to support Small and Medium-sized Enterprises (SMEs) in expanding their business overseas. The grant aims to lower the financial barriers of market entry, making it easier for local companies to explore and penetrate foreign markets.

As of 1 April 2020, the grant supports up to 70% of eligible costs, capped at S$100,000 per company per new market, which includes:

• Overseas market promotion (e.g., participation in trade fairs)

• Overseas business development (e.g., engaging business matching consultants)

• Overseas market set-up (e.g., legal, tax, and accounting advisory)

It’s important to note that “per new market” means the funding cap resets when you explore a completely new overseas market not previously supported under the MRA.

Who is Eligible?

To qualify for the MRA Grant, your business must meet the following criteria:

1. Be a registered and operating company in Singapore

2. Have at least 30% local shareholding

3. Be a Small and Medium-sized Enterprise (SME): Annual sales turnover of not more than S$100 million or employment size of not more than 200 workers.

4. Have not already received MRA support for the same activity in the same market

If you’re unsure whether your business qualifies or how to structure your application, it’s best to consult with a grant advisor.

What Does the MRA Grant Cover?

Here’s a closer look at the three key supportable activities under the MRA Grant:

1. Overseas Market Promotion

• Participation in trade fairs, exhibitions, or business missions

• Design and production of marketing materials targeted at foreign markets

• Public relations and advertising in overseas media

2. Overseas Business Development

• Engaging business matching consultants to identify distributors or partners

• Conducting business development meetings in the target market

3. Overseas Market Set-Up

• Fees related to legal advice, taxation, and compliance regulations

• Advisory costs for company incorporation or intellectual property registration

• Guidance on customs, logistics, and pricing strategies

Why Consider the MRA Grant?

1. Lower Your Risk

International expansion is expensive. The MRA Grant reduces your financial burden and increases your chances of success with government-backed funding.

2. Gain Market Insights

With access to qualified business consultants, you’ll gain valuable insights into market demand, local competitors, and business regulations in the new region.

3. Improve Success Rate

SMEs often lack the resources to conduct detailed market research or business matching. The MRA Grant enables you to work with professionals who specialize in global expansion.

Application Process – Step-by-Step

Applying for the MRA Grant involves several steps. Here’s a simplified overview:

Step 1: Prepare Documents

Get ready with the following:

• Latest ACRA Bizfile

• Financial statements

• Quotations from third-party vendors (minimum one, maximum two)

• Project proposal with clear outcomes

Step 2: Submit Application on Business Grants Portal (BGP)

Applications must be submitted before the project commences. No retrospective claims are allowed.

Step 3: Wait for Approval

Enterprise Singapore will assess your application, which usually takes 6–8 weeks.

Step 4: Execute the Project

Once approved, proceed with your overseas expansion activities.

Step 5: Submit Claim

Upon project completion, submit your claim with invoices, receipts, and a final report.

Common Mistakes to Avoid

1. Starting the project before applying – Enterprise Singapore does not accept retroactive funding.

2. Using non-qualifying vendors – Only third-party consultants with no related interest to your business are allowed.

3. Over-claiming – Stay within budget caps for each category and ensure transparency.

4. Inadequate documentation – Always retain copies of all invoices, contracts, and communication with vendors.

Tips to Maximise the MRA Grant

• Be Strategic: Choose markets where your product or service already has some level of demand or where your competitors are thriving.

• Bundle Services: Work with consultants who offer a full suite of services (e.g., market research + partner matching + marketing material design) to streamline execution.

• Measure ROI: Track KPIs like leads generated, deals closed, and partnerships formed to assess whether the expansion efforts are working.

How Long Does It Take to Get Funded?

From application to reimbursement, the entire process may take 3 to 6 months, depending on the complexity of your project and the quality of your documentation.

Need Help with the MRA Grant?

The MRA Grant can be a game changer for SMEs ready to explore global markets — but only if used wisely. If you’re not sure how to start or want to ensure you get the maximum eligible funding, expert help can save you time, money, and stress.

👉 Visit GrantConsultant.sg to get professional assistance with your MRA Grant application today. Their experienced consultants can guide you from eligibility checks to full submission and successful claims.

Final Thoughts

Expanding your business overseas is a bold move — and the MRA Grant is here to make it a smart one. With the right approach, expert guidance, and a clear market entry plan, your SME can tap into global opportunities with confidence and government support.

Don’t let borders limit your potential. Tap into the Market Readiness Assistance Grant and take your business to the world.