MRA grants

How to Qualify for the MRA Grant in Singapore: A Simple Guide

February 9, 2025

When you decide to grow your business beyond Singapore, securing funding might seem daunting. The MRA grant in Singapore offers a valuable lifeline. This government initiative supports small and medium enterprises (SMEs) by sharing the costs of international expansion. In this simple guide, you will learn how to qualify for the MRA grant in Singapore. You will discover its benefits, eligibility criteria, and step‑by‑step instructions on applying.

In addition, this guide explains how the broader ecosystem of SME grants in Singapore can further support your business growth in 2025.

Overview of the MRA Grant in Singapore

Enterprise Singapore launched the MRA grant in Singapore in 2015. The grant helps Singaporean SMEs defray expenses when they expand overseas. It covers costs related to market promotion, business development, and establishing operations abroad. You can receive up to 50% reimbursement of eligible expenses, with funding capped at S$100,000 per new market. In short, the MRA grant in Singapore minimizes your financial risks when venturing into foreign markets.

The government created this grant to support local companies. They want Singapore‑incorporated businesses to establish a global presence. Instead of shouldering the full cost of marketing campaigns, trade fair fees, consultancy charges, or legal expenses, your company can share these costs with the government. As a result, you gain more time and resources to focus on growing your brand internationally.

Moreover, many entrepreneurs face challenges such as high upfront costs and uncertainties in new markets. The MRA grant in Singapore helps overcome these challenges. Whether you plan to attend trade fairs, conduct market research, or set up an overseas office, this grant opens up many opportunities.

What the MRA Grant in Singapore Covers

Qualifying Activities

The MRA grant in Singapore funds specific activities that are essential for international expansion. It divides support into three main pillars:

Overseas Market Promotion:
You can receive up to S$20,000 for overseas marketing and PR activities. This includes promotional campaigns, road shows, trade conferences, and online marketing efforts such as search engine optimization and digital campaigns.
Overseas Business Development:
Up to S$50,000 is available for activities that help you secure business partners. This support covers business matching, identifying agents or distributors, and exploring joint ventures.
Overseas Market Set‑Up:
Funding of up to S$30,000 covers costs associated with market set‑up. These costs include market research, feasibility studies, legal and tax advisory services, intellectual property searches, and obtaining import‑export licenses.

Grant Calculation Example

Suppose your overseas marketing set‑up cost is S$12,000. With the MRA grant in Singapore covering 70% of eligible expenses, you receive S$8,400. This means you only pay S$3,600 out‑of‑pocket. This structure reduces the financial burden significantly, allowing you to invest more in other critical areas of your expansion strategy.

Eligibility Criteria for the MRA Grant in Singapore

Before you apply, you must ensure your business meets the following key requirements:

1. Business Registration and Active Operation

Your company must be a legal entity registered in Singapore and must operate actively. You must contribute to Singapore’s economy by following local laws and maintaining regular business activities. In essence, you must prove that your company is not merely a shell but an active and vibrant enterprise.

2. Local Equity Requirement

At least 30% of your company’s equity must be held directly or indirectly by Singaporeans or Singapore Permanent Residents (PRs). This requirement guarantees that the grant benefits homegrown businesses. If your shareholding includes a large percentage of foreign investors, you may need to adjust your structure so that local stakeholders own at least 30%. This adjustment not only satisfies the requirement but also enhances your company’s credibility.

3. New Market Entry

Your company must be entering a new overseas market. To qualify, your annual sales in the target market must not have exceeded S$100,000 in any of the preceding three years. This rule directs funding to businesses that are truly venturing into new territory, rather than those already established abroad.

4. Financial Health and Scale

Your business must be classified as an SME. To qualify, your group’s annual sales turnover must not exceed S$100 million, or your group’s employment size must be 200 or fewer. These criteria ensure that the MRA grant in Singapore reaches smaller enterprises that need financial support for international expansion.

5. Special Considerations for Startups and Dormant Companies

Newly registered companies can apply, but they might face extra scrutiny due to limited financial history. You may need to provide alternative documentation such as unaudited management accounts. Dormant companies should apply only if they receive strong support from a parent company. These measures ensure that only active and growth‑oriented businesses receive support.

How to Apply for the MRA Grant in Singapore: Step-by-Step Process

A systematic approach will help you qualify for and secure the MRA grant in Singapore. Follow these steps carefully:

Step 1: Prepare Your Application Package

Begin by gathering all necessary documents. This step is crucial and includes:

Financial Statements: Gather audited financial statements for the past three years. If your company is new, obtain certified management accounts.
Business Plan: Create a detailed business plan that explains your international expansion strategy. Describe your target market, the rationale behind your choice, and how the MRA grant will help.
Vendor Quotations: Collect detailed quotations and proposals from the vendors or consultants you plan to use.
Company Registration Documents: Ensure your registration documents are current and accurate. These documents verify your company’s legal standing in Singapore.

Thorough preparation lays a strong foundation and minimizes errors later in the process.

Step 2: Submit Your Application via the Business Grants Portal (BGP)

Once you have assembled your application package, log in to the BGP using your CorpPass account. As you complete this step:

Enter Accurate Information: Fill out the application form carefully to avoid mistakes.
Upload All Required Documents: Attach your financial statements, business plan, vendor quotations, and registration documents.
Follow Guidelines: Adhere to the specific instructions provided on the portal.

After submission, save the confirmation. This proof of submission is important for tracking your application.

Step 3: Await the Review

Enterprise Singapore reviews your application after submission. During this period:

Monitor Your Email: Check your email frequently for any requests from the reviewers.
Respond Quickly: Provide any additional information or clarifications as soon as possible.
Prepare Supporting Materials: Be ready with extra documents if the review team requests them.

Effective communication speeds up the review process and increases your chances of success.

Step 4: Receive and Accept the Letter of Offer

If your application meets all criteria, you will receive a Letter of Offer from Enterprise Singapore. This letter will detail:

The approved grant amount.
Conditions of support.
The project timeframe.
The deliverables you must complete.

Read the letter carefully and accept it within the given deadline. Accepting the offer formalizes your commitment to the project and the grant terms.

Step 5: Implement Your Project

After accepting the Letter of Offer, you will implement your international expansion project according to your business plan. Follow these guidelines:

Stick to the Plan: Execute your project as outlined. Deviating from the plan may cause issues during the audit.
Keep Detailed Records: Maintain clear records of every expense, transaction, and milestone. Save receipts, invoices, and other proofs of expenditure.
Communicate Changes: Inform your grant officer immediately if you encounter any issues or need to make adjustments.

Successful project implementation is key to a smooth claim process.

Step 6: Submit Your Claim for Reimbursement

After completing your project, you must submit a claim for reimbursement. Follow these steps:

Engage an Auditor: Contact an auditor from Enterprise Singapore’s Pre‑Qualified Panel to review your expenses.
Compile a Claim Package: Gather the auditor’s report, receipts, invoices, and a detailed Statement of Claim.
Upload Your Claim: Submit the complete claim package via the BGP before the deadline.
Monitor the Process: Track your claim’s progress and respond promptly to any queries.

Once approved, the funds will be disbursed to your bank account within six to eight weeks.

Read also: How to Apply for MRA Grant Singapore: A Step-by-Step Guide 2025

Exploring Singapore’s SME Grant Landscape for 2024

While the MRA grant in Singapore plays a vital role in helping businesses expand internationally, Singapore offers a comprehensive suite of SME grants to support growth and innovation. These grants help SMEs enhance operational capabilities, adopt new technologies, and remain competitive in a dynamic economic environment.

Key Takeaways

SME grants in Singapore provide non‑repayable funding that addresses various business challenges. They support initiatives that help local companies:

Enhance operational capabilities.
Explore emerging markets.
Adapt to economic changes.

The government offers several targeted grants, including:

Enterprise Development Grant (EDG):
Helps businesses upgrade, innovate, and transform operations. EDG provides up to 50% funding for projects covering equipment, consultancy fees, and manpower expenses.
Productivity Solutions Grant (PSG):
Aids in adopting pre‑approved IT solutions that boost efficiency. PSG covers up to 50% of technology adoption costs, with a cap of S$30,000.
Market Readiness Assistance (MRA) Grant:
As described, this grant focuses on covering expenses for overseas expansion.
Energy Efficiency Grant (EEG):
Supports food‑related businesses to adopt energy‑efficient equipment, covering up to 70% of eligible costs with a cap of S$30,000 per year.

Understanding SME Grants in Singapore

SME grants are strategic government investments. They offer financial support to overcome barriers such as technology adoption, productivity improvement, and market access. These grants enable businesses to undertake projects that drive innovation and growth, ultimately strengthening the economy.

Defining SMEs in Singapore

In Singapore, an SME is defined by specific criteria:

Annual Sales Turnover: Less than S$100 million.
Employment Size: Fewer than 200 individuals.
Local Shareholding: At least 30% of the company’s shares must be owned by local residents, permanent residents, or citizens.

This clear definition ensures that the government’s support reaches businesses that truly need it and helps drive innovation and job creation.

Key Government Grants for SMEs

Singapore offers various grants to support different aspects of business growth:

Enterprise Development Grant (EDG):
This grant supports initiatives that help you upgrade your core capabilities, innovate, and improve market access.
Productivity Solutions Grant (PSG):
This grant aids in adopting digital solutions to enhance operational efficiency.
MRA Grant in Singapore:
Focuses on reducing the cost of international expansion.
Energy Efficiency Grant (EEG):
Supports the adoption of energy‑efficient technologies to lower operational costs and promote sustainability.

Sector‑Specific Grants

Additionally, several sector‑specific grants target industries with unique needs:

Infocomm Media Development Authority (IMDA) Grants:
These grants support digital transformation by funding hardware, software, and infrastructure investments.
Monetary Authority of Singapore (MAS) Grants:
MAS offers the RegTech grant, which helps financial institutions implement innovative regulatory technology.
Health Promotion Board (HPB) Grants:
These grants promote healthier dining and ingredient practices in the F&B sector.
Singapore Tourism Board (STB) Grants:
STB supports tourism‑related businesses through programs like the Kickstart Fund.

Application Process for SME Grants

The Business Grants Portal (BGP) simplifies the application process for all SME grants. The process typically involves:

Logging in with your CorpPass.
Completing your company profile, with data automatically extracted from ACRA using your Unique Entity Number (UEN).
Filling out detailed grant applications.
Submitting and then monitoring your application status on the “My Grants” page.

Tips for Successful Grant Applications

To maximize your chances of success:

Prepare a Detailed Budget:
Provide clear cost breakdowns.
Ensure Clear Documentation:
Follow application guidelines and submit all required documents.
Submit Early:
Early submission gives you time for revisions and minimizes errors.
Align with Grant Priorities:
Make sure your project objectives align with the grant program’s focus.

Special Grants for Startups and Workforce Support

For startups, the government offers tailored support:

Startup SG Founder:
Provides up to S$50,000 in funding and mentorship for first‑time entrepreneurs. A co‑matching contribution of S$10,000 is required.
Startup SG Tech:
Supports early‑stage technology development, offering up to 70% funding for projects at the Proof‑of‑Concept and Proof‑of‑Value stages.

Workforce support programs include:

SkillsFuture Enterprise Credit (SFEC):
Encourages investment in workforce transformation.
Career Conversion and Trial Programmes:
These programs provide financial incentives and training support for recruitment.
Enhanced Training Support for SMEs (ETSS):
Offers up to 90% subsidies on training fees to upskill your workforce.

Introducing Bizsquare Group: Your Strategic Partner in Securing the MRA Grant in Singapore

Expert consultancy can make a significant difference when applying for the MRA grant in Singapore. Bizsquare Group stands out as an award‑winning strategic business consultancy that has helped thousands of Singaporean SMEs since 2013.

Who Are Bizsquare Group?

Bizsquare Group has supported over 3,000 clients and raised more than SGD 1 billion in funding with the help of over 50 financial institution partners. Their service portfolio includes corporate finance, branding and marketing, accounting, corporate secretarial services, and strategy consultation. Their focus on crafting robust strategies helps drive sustainable growth for SMEs.

Bizsquare’s MRA Grant Services

Bizsquare Group offers comprehensive support to enhance your application for the MRA grant in Singapore:

Business Matching:
They use an extensive network to connect you with strategic partners, agents, distributors, and potential customers in your target overseas market. Their Business Matching Indonesia service, for instance, connects Singaporean companies with key partners in Indonesia at no additional cost with the grant.
Market Entry Strategy:
Bizsquare assists in developing a detailed market entry plan. Their approach includes thorough market research and competitive analysis that help meet the “new market” criterion.
Document Preparation and Review:
Their experienced team refines your financial statements, business plans, and vendor quotations to make your application as strong as possible.
End-to‑End Consultancy:
From initial feasibility studies to post‑grant claim support and audit assistance, Bizsquare provides continuous guidance.
Tailored Solutions for Internationalization:
Their expertise extends beyond Singapore to key regional markets such as Indonesia, Vietnam, Malaysia, and Laos, ensuring your strategy suits your unique business needs.

Why Partner with Bizsquare Group?

Partnering with Bizsquare Group gives you a competitive edge:

International Network:
With offices in Singapore and major Southeast Asian countries like Indonesia, Malaysia, Vietnam, and Laos, Bizsquare connects you with critical market insights.
Accredited Expertise:
Their team of certified professionals has extensive experience in managing international expansion projects.
Comprehensive Support:
Bizsquare offers a one‑stop solution from application preparation to claim submission and post‑award support.
SME-Focused Solutions:
Their services are tailored to the challenges and opportunities faced by SMEs.
Proven Track Record:
Serving over 3,000 clients and raising over SGD 1 billion in funding, Bizsquare Group is a trusted partner for your international growth.

By partnering with Bizsquare Group, you streamline your application process for the MRA grant in Singapore and position your business for sustainable international success.

Final Thoughts

To sum up, qualifying for the MRA grant in Singapore involves meeting clear eligibility criteria. Your company must be registered and active in Singapore, with at least 30% local equity. You must enter a new overseas market where your annual sales remain below S$100,000 for each of the past three years. Additionally, your group’s annual turnover should not exceed S$100 million, or your employment size must remain below 200.

Although the application process may seem complex, a systematic approach can lead you to success. Start by preparing a detailed application package and submit it via the Business Grants Portal. Once approved, implement your project carefully, keeping thorough records for the reimbursement claim. Every detail counts: verify your financial data, adjust your shareholding if needed, and choose a market where your presence is minimal.

In addition, Singapore’s broader ecosystem of SME grants provides further support. Programs like the Enterprise Development Grant, Productivity Solutions Grant, Energy Efficiency Grant, and sector‑specific grants empower SMEs to innovate, grow, and remain competitive both locally and globally.

Consider also partnering with expert consultants such as Bizsquare Group. Their extensive experience in business matching, market entry strategy, and end‑to‑end consultancy will help you navigate the grant process with ease. With a robust network in Singapore and across Southeast Asia, Bizsquare Group offers tailored solutions that give your application a competitive edge.

Now is the time to review your company’s structure, verify your data, and prepare your documentation meticulously. Whether you apply for the MRA grant in Singapore or explore other SME grants, a methodical and proactive approach will help you secure the funding you need. Embrace this opportunity to reduce financial risks, unlock new revenue streams, and establish a lasting global presence.

For further guidance or to begin your application process, click here to contact Bizsquare Group. With their strategic support, you will navigate the grant process confidently and turn your international ambitions into reality.