Market Readiness Assistance(MRA)
Test The Market Readiness Assistance (MRA) grant supports companies in expanding into international markets by covering some of the expenses related to overseas market promotion, business development, and setup.
- Eligible local SMEs can receive up to 50% of their costs covered.
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The support is capped at S$100,000 per company per new market, divided into three categories:
- Overseas market promotion (up to S$20,000)
- Overseas business development (up to S$50,000)
- Overseas market setup (up to S$30,000)
Each application must focus on one activity in a single overseas market.
Eligibility Criteria for the MRA Grant
To qualify for the MRA grant, a company must satisfy the following requirements:
- The business must be registered and operational in Singapore.
- At least 30% of the company’s equity must be held directly or indirectly by Singaporean citizens or Singapore Permanent Residents, determined by the ultimate individual ownership.
- The company must be entering a new overseas market.
- The company’s annual sales in the target market must not have exceeded S$100,000 in any of the past three years.
- The group’s annual sales turnover should not exceed S$100 million, or the group should have no more than 200 employees.
For more info, pls visit https://www.enterprisesg.gov.sg/financial-support/market-readiness-assistance-grant
