Market Readiness Assistance (MRA) Grant: Step-by-Step Guide for Singapore SMEs

Introduction

Expanding beyond Singapore is a significant milestone for any business, but it comes with cost and complexity. The Market Readiness Assistance (MRA) Grant, administered by Enterprise Singapore, helps local SMEs reduce the risk and cost of internationalisation with up to 50% funding support.

Whether you're setting up an overseas office, engaging in digital marketing abroad, or hiring consultants to explore foreign markets, the MRA Grant offers valuable financial assistance.

What is the Market Readiness Assistance (MRA) Grant?

• Funding Support: Up to 50% of eligible costs, capped at S$100,000 per new market per fiscal year.

• Administered by: Enterprise Singapore

• Key Link: Official MRA Overview

What Does the MRA Grant Cover?

Activity Type	Cap Amount	Examples of Supported Cost
Overseas Marketing Promotion	Up to S$20,000	Trade fairs, digital advertising, PR campaigns
Overseas Business Development	Up to S$50,000	Lead generation, in-market consultants
Overseas Market Setup	Up to S$30,000	Company incorporation, tax/legal advisory, translation

Benefits of the MRA Grant for SMEs

• Reduce the financial risk of entering new markets

• Engage reputable business development experts

• Validate and test foreign markets before full commitment

• Enhance visibility through international marketing campaigns

• Lay legal groundwork for setting up overseas offices

Eligibility Criteria

To qualify:

• The company must be registered and operating in Singapore

• At least 30% local shareholding

• Group annual turnover below S$100 million or fewer than 200 employees

• No prior approved MRA grant for the same activity and market

Step-by-Step Guide to Applying

Step 1: Identify the Target Market

Choose a new market you want to enter. "New" means your company has not received MRA funding for that country in the current financial year.

Step 2: Define Your Project Scope

Select one or more of the three supported areas:

• Marketing

• Business Development

• Market Setup

Step 3: Choose a Qualified Third-Party Vendor

Engage a Singapore-based vendor with no related-party affiliation. You must obtain:

• A clear scope of work

• A formal quotation

• Vendor company profile

Do not sign contracts before the grant is approved.

Step 4: Prepare the Required Documents

You’ll need:

• Company’s ACRA Bizfile

• Audited financial statements

• Vendor’s quotation and proposal

• Project write-up (objectives, market opportunity, cost estimates)

• Declaration of project not started prior to approval

Step 5: Apply via the Business Grants Portal

🔗 Access Portal Here: Business Grants Portal (BGP)

1. Log in with Corppass

2. Select “Market Readiness Assistance Grant”

3. Complete the company profile

4. Upload all supporting documents

5. Submit for review

Step 6: Wait for Approval

• Review typically takes 4 to 8 weeks

• Enterprise Singapore may request further clarification

• Upon approval, you’ll receive a Letter of Offer and grant conditions

Step 7: Execute and Complete Your Project

• Implement the project as outlined

• Keep all relevant invoices, reports, and deliverables

• Avoid modifying the scope or vendor without approval

Step 8: Submit Grant Claim

Once the project ends:

1. Log back into the Business Grants Portal

2. Submit:

   • Final deliverables/report

   • Invoices and payment proof

   • Outcome summary (performance, leads generated, etc.)

Approved claims will be reimbursed directly to your business bank account.

How ProLead Can Help

At ProLead, we act as your connector and advisor, not a grant provider. We assist businesses by:

• Matching you with MRA-compliant consultants and vendors

• Reviewing your proposal and documents before submission

• Advising on market suitability and strategic scope alignment

• Answering queries on the application or claim process

Let us simplify the journey so you can expand globally with peace of mind.

Conclusion

The MRA Grant is a strategic financial tool that gives SMEs the confidence to enter new markets while managing risk. With up to S$100,000 in support per country, this grant unlocks critical opportunities for growth, visibility, and global reach.

If you're looking to take your business abroad, contact ProLead for assistance in finding trusted vendors, aligning your project scope, and making the most of Singapore’s pro-business incentives.