Market Readiness Assistance (MRA) grant — Eligibility and requirements checklist

The Market Readiness Assistance (MRA) grant helps Singapore SMEs take their first steps into overseas markets by defraying up to 50% of eligible costs for overseas market promotion, business development and set-up, capped per new market. This guide covers eligibility, the support cap, claimable activities and the application process.

What the Market Readiness Assistance grant is

The Market Readiness Assistance grant is an Enterprise Singapore support scheme that co-funds the cost of expanding into new overseas markets. It reimburses a percentage of qualifying expenses across three activity pillars: overseas market promotion, overseas business development, and overseas market set-up. The grant is designed for smaller enterprises taking their first meaningful steps abroad, and it is capped per company per new market so that support is spread across genuine market-entry efforts rather than concentrated in one large claim.

Who the MRA grant is for

The scheme targets Singapore-registered SMEs that are ready to internationalise but have limited overseas presence in the target market. Companies weighing an overseas expansion alongside a group tax structure should also consider our guide to tax incentives and the BIPS framework, and businesses hiring to support the expansion may find our note on financial-services and cross-border sector hiring helpful. If you are stacking several schemes, read our guide on how to combine Singapore government grants to avoid double-funding the same cost.

Eligibility and requirements checklist

To qualify, a company generally must meet the following conditions.

  • Business entity registered and operating in Singapore
  • At least 30% local shareholding
  • Group annual turnover not exceeding S$100 million, or group employment not exceeding 200 employees
  • New to the target overseas market, meaning no or limited sales there in recent years
  • Activities not already commenced or paid for before applying

Because the eligibility bands and support levels are periodically revised at Budget time, applicants should confirm the current parameters on the Enterprise Singapore Business Grants Portal before committing spend.

What the grant covers and the cap

MRA supports up to 50% of eligible costs, subject to a cap of S$100,000 per company per new market covering the three pillars. Overseas market promotion covers activities such as overseas marketing and public-relations campaigns. Overseas business development covers in-market business matching and market-entry consultancy. Overseas market set-up covers advisory on business restructuring, tax and legal matters for the target market. Free-trade-agreement and regulatory advisory can also fall within scope. Each market entry is treated separately, so a company entering three markets could, in principle, access support across each subject to the per-market cap.

Application process and timeline

Applications are made through the Enterprise Singapore Business Grants Portal using CorpPass. The steps are: confirm eligibility, obtain quotations for the intended activities, submit the application with a clear project scope and cost breakdown, await approval before starting the funded activity, complete the activity, then submit a claim with supporting invoices and proof of payment and deliverables. Approval typically takes 4 to 8 weeks, and claims are processed after the activity is completed and evidenced. Do not commence or pay for the activity before approval, as retrospective costs are not supported.

Common mistakes and gotchas

The single most common disqualifier is paying for the activity before the application is approved. Others include applying for a market where the company already has meaningful sales, weak documentation of deliverables at claim stage, and mixing costs across markets so the per-market cap cannot be evidenced. Grant receipts are also generally taxable income under the Income Tax Act 1947 unless a specific exemption applies, so budget for the tax treatment. Keep every quotation, invoice, payment record and deliverable, because Enterprise Singapore may request them at claim verification.

Official references

Primary sources for this topic include Enterprise Singapore, the Singapore Economic Development Board and the Infocomm Media Development Authority. Always confirm current figures and rules against these official sources.

FAQs

How much does the MRA grant cover?
MRA supports up to 50% of eligible costs, capped at S$100,000 per company per new market across overseas promotion, business development and market set-up. Confirm current parameters on the Business Grants Portal.

Can I claim for a market where I already sell?
Generally no. The grant is for new markets where the company has no or only limited prior sales. A market with established revenue is unlikely to qualify.

Do I apply before or after spending?
Before. You must apply and receive approval before commencing or paying for the funded activity. Retrospective costs incurred prior to approval are not supported.

Is the grant taxable?
Government grants are generally taxable under the Income Tax Act 1947 unless specifically exempt. Treat the receipt as income in your tax computation and take advice if unsure.

Need help with this? Call, SMS or WhatsApp +65 8501 7133, or email [email protected]. Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.