Market Readiness Assistance (MRA Grant): A Complete Guide for Singapore SMEs Expanding Overseas

Expanding into overseas markets is a major growth milestone for many Singapore businesses, but it often comes with high upfront costs and unfamiliar regulatory requirements. To support small and medium-sized enterprises taking their first steps beyond Singapore, the government introduced the Market Readiness Assistance Grant, a targeted funding scheme designed to reduce the risks of international expansion.

This guide, Venture Studio explains how the Market Readiness Assistance Grant works, who it is for, what activities are supported, and how businesses can apply successfully.

What Is the Market Readiness Assistance Grant?

The Market Readiness Assistance Grant (MRA Grant) is a targeted government support scheme designed to assist Singapore small and medium-sized enterprises in defraying eligible costs associated with entering new overseas markets. The grant supports early-stage internationalisation efforts by helping businesses establish an initial market presence, validate overseas opportunities, and develop in-market capabilities in a controlled and measured manner.

Administered by Enterprise Singapore, the Market Readiness Assistance Grant is focused on clearly defined market entry activities, such as promotion, business development, and market set-up. It is not intended to fund broad business transformation projects, but rather to support specific initiatives that facilitate first-time or early overseas expansion.

Why the Market Readiness Assistance Grant Exists

Entering a new overseas market often requires substantial upfront investment before revenue can be realised. Businesses typically incur costs related to market research, regulatory and compliance requirements, marketing activities, and in-market business development, all while facing uncertainty over commercial outcomes. For many small and medium-sized enterprises, these barriers can limit their ability to pursue international expansion beyond Singapore.

The Market Readiness Assistance Grant was introduced to address these challenges by providing targeted funding support for essential early-stage overseas expansion activities.

By helping businesses offset initial costs, the grant enables companies to assess market viability, establish initial overseas presence, and develop key market connections in a more measured and lower-risk manner before committing to larger long-term investments.

Who Is Eligible for the Market Readiness Assistance Grant?

To qualify for the Market Readiness Assistance (MRA) Grant, companies must meet all of the eligibility requirements outlined below.

These criteria are set to ensure that the grant supports Singapore-based small and medium-sized enterprises that are entering a new overseas market and engaging in eligible third-party activities.

✅ The company must be registered and actively operating in Singapore.

✅ The business must have at least 30% local equity or shareholding, held either directly or indirectly by Singapore citizens or permanent residents.

✅The company must be new to the target overseas market.

This means that the company’s annual sales in the overseas country must not have exceeded S$100,000 in any of the preceding three years.

✅ The applicant must qualify as a small or medium-sized enterprise (SME).

This is defined as having either group annual sales turnover of not more than S$100 million, or a group employment size of not more than 200 employees.

✅ Retrospective applications are not allowed.

The project must not have started, and no contracts should be signed or payments made before grant approval. (Certain trade fair-related cases may be subject to specific exceptions.)

✅ There must be no conflict of interest.

Any vendor, consultant, or service provider engaged for the project must not be a related party to the applicant company.

✅ Supported activities must be outsourced to third parties.

The MRA Grant generally supports third-party costs, and expenses may be disallowed if the company already has internal capability to perform the same function.

Only companies that meet all of the above conditions will be considered eligible for the Market Readiness Assistance Grant.

Businesses are advised to review these requirements carefully before preparing their application to avoid delays or rejection.

How Much Funding Can Businesses Receive?

Under the Market Readiness Assistance (MRA) Grant, eligible companies can receive up to 50% support for qualifying costs, subject to prevailing government guidelines. Funding is capped per company per new overseas market, allowing businesses to plan multiple market entries over time, provided each market meets the eligibility criteria.

The maximum funding support is up to S$100,000 per overseas market, with sub-caps applied to different activity categories such as market promotion, business development, and market set-up. The final grant amount depends on the approved activity type, project scope, and cost breakdown submitted in the application.

Only expenses that fall within supported cost categories and comply with grant conditions are eligible for funding. Costs that are outside the approved scope, retrospective in nature, or not aligned with grant requirements will not be supported.

What Activities Are Supported Under the MRA Grant?

The Market Readiness Assistance (MRA) Grant supports overseas expansion activities across three distinct pillars. Each pillar targets a specific aspect of entering a new international market, and each has its own internal funding cap. Businesses should plan their applications carefully to ensure costs fall within the relevant limits.

Overall Support Level

Under the MRA Grant, eligible Singapore SMEs may receive up to 50% support for qualifying costs, subject to prevailing government guidelines. Funding is capped at S$100,000 per company per new overseas market.

Supported Activities by Pillar

Overseas Market Promotion

Maximum support: S$20,000

This pillar supports activities aimed at increasing brand visibility and market awareness in new overseas markets. Eligible activities include:

• Marketing and public relations campaigns, both digital and offline

• Roadshows, pop-up stores, and in-store promotional activities

• Participation in overseas trade fairs, whether physical or virtual

• Design and production of promotional materials, booth design and construction

• Post-event analysis and reporting related to overseas promotional activities

Overseas Business Development

Maximum support: S$50,000

This pillar focuses on helping businesses establish commercial relationships and gain market access in overseas markets. Supported activities include:

• Identification of overseas partners, distributors, agents, or joint venture opportunities

• Outsourced in-market business development and business matching services

• Market entry support, advisory, and strategic guidance

• Product-related training, in-market consultations, and capability-building engagements

Overseas Market Set-Up

Maximum support: S$30,000

This pillar supports activities that prepare businesses for operational readiness in overseas markets. Eligible activities include:

• Legal, regulatory, and documentation-related expenses, such as incorporation, licensing, tax advisory, and intellectual property registration

• Foreign entity set-up, engagement of in-market staff, and office rental for marketing presence

• Trade compliance, legal structuring, and regulatory advisory services

Important Note:

For physical overseas trade fairs, booth space supported under the MRA Grant is subject to a cap (for example, up to 36 square metres for funded booths), in line with prevailing guidelines.

Step-by-Step: How the Market Readiness Assistance Grant Application Works

Applying for the Market Readiness Assistance (MRA) Grant involves a defined process that businesses must follow to remain eligible for funding.

Each application must relate to one activity in one new overseas market and must be submitted before the project begins.

Step	Description
1. Select the target overseas market	Identify the overseas market you intend to enter and ensure it qualifies as a new market. The company’s sales in that market must not have exceeded S$100,000 in any of the past three years.
2. Define the project scope and activity	Select one supported pillar or activity for the chosen market and identify a suitable third-party vendor or service provider.
3. Obtain quotations or proposals	Request quotations detailing the scope of services, deliverables, and cost breakdown. Quotations must be addressed to the applicant’s registered company name as reflected in ACRA BizFile.
4. Prepare supporting documents	Compile required documents such as the latest financial statements, corporate group structure, ACRA BizFile records, and shareholder or director information.
5. Submit application via Business Grants Portal (BGP)	Log in using CorpPass and submit the application through the Business Grants Portal. The application must be submitted before any project work starts.
6. Project execution and claim submission	Upon approval, carry out the project within the approved scope and timeframe. Retain all documentation and submit the funding claim via the Business Grants Portal after completion.
7. Grant disbursement	Once the claim is reviewed and approved, the grant amount will be reimbursed to the company’s registered bank account.

Processing Time

Applications are typically processed within 4 to 6 weeks, subject to the completeness of the submission and assessment requirements.

Project Duration and Completion

Approved projects are generally capped at 12 months in duration. Each application must cover only one activity in a single overseas market.

Common Reasons MRA Grant Applications Are Rejected

Before submitting an application, businesses should ensure none of the following issues apply:

❌ Project started before application submission

Projects that have already commenced, contracts that are signed, or payments made before submitting the application are not supported.

❌ Activities fall outside supported scopes

Applications may be rejected if the proposed activities do not fall within the approved MRA pillars or eligible cost categories.

❌ Incomplete or inaccurate documentation

Missing financial statements, incorrect company details, or insufficient supporting documents can result in delays or rejection.

❌ Overseas market does not qualify as “new”

If the business has generated more than S$100,000 in annual sales in the target market within the past three years, the market may be deemed ineligible.

❌ Costs do not comply with grant conditions

Expenses that exceed internal caps, fall outside approved scopes, or do not align with grant guidelines may be disallowed.

Best Practices for a Successful MRA Grant Application

Before submitting your application, ensure the following best practices are in place to improve approval chances and ensure a smooth claims process:

✅ Clearly define the target overseas market: Confirm that the selected market qualifies as new and meets the MRA eligibility requirements.

✅ Select one pillar and maintain a focused scope: Choose only one supported pillar or activity per overseas market and avoid combining multiple scopes in a single application.

✅ Engage reliable third-party vendors: Work with credible, independent vendors and obtain clear quotations that align with the approved scope of work.

✅ Maintain complete and organised documentation: Keep all invoices, receipts, deliverables, progress reports, and proof of payment properly recorded for claims submission.

✅ Submit the application before committing to vendors: Ensure the application is submitted and approved before signing contracts or making any payments.

✅ Set clear milestones and monitor progress: Track project timelines closely to ensure completion within the approved duration and avoid overruns.

✅ Engage an auditor early where applicable: Early coordination with an auditor can help streamline the final claims process and reduce delays.

✅ Understand the impact of related or connected enterprises: Be aware of how connected entities may affect eligibility and the S$100,000 funding cap per overseas market.

✅ Enable PayNow Corporate or GIRO: Setting up PayNow Corporate or GIRO can help speed up grant disbursement once claims are approved.

Is the MRA Grant Right for Your Business?

The Market Readiness Assistance Grant is well-suited for Singapore SMEs planning to enter new overseas markets in a structured and lower-risk manner. By supporting early-stage expansion activities, the grant enables businesses to explore international opportunities while managing costs and uncertainty.

For companies seeking to validate new markets, build overseas partnerships, or establish an initial international presence, the Market Readiness Assistance Grant remains a valuable support scheme worth considering.