What is the MRA Grant and Why You Need MRA Grant Consultants

In today’s globalised business environment, internationalisation is no longer a luxury but a necessity for growth-oriented companies. For Singapore-based Small and Medium Enterprises (SMEs) eyeing overseas expansion, the Market Readiness Assistance (MRA) Grant, administered by Enterprise Singapore, offers timely support. However, navigating the complexities of grant application, compliance, and execution can be daunting. This is where MRA Grant Consultants come in — providing valuable expertise, insights, and support to maximise your chances of success.

This article explores what the MRA Grant is, the benefits it offers, and why engaging an MRA Grant Consultant can be a game-changer for your business.

What is the MRA Grant?

The Market Readiness Assistance (MRA) Grant is a government initiative under Enterprise Singapore aimed at supporting local SMEs in their internationalisation efforts. It co-funds eligible costs that businesses incur when expanding into new overseas markets.

Key Features of the MRA Grant:

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

• Focus Areas Covered:

  1. Overseas Market Promotion (e.g. participation in trade fairs, marketing collaterals, digital marketing).

  2. Overseas Business Development (e.g. business matching, market entry advisory).

  3. Overseas Market Setup (e.g. legal advice, IP search, tax structuring).

The grant helps defray some of the financial risks SMEs face when stepping into unfamiliar territories and encourages local businesses to explore global opportunities with less hesitation.

Who is Eligible for the MRA Grant?

To qualify for the MRA Grant, a company must:

1. Be registered and incorporated in Singapore.

2. Have at least 30% local shareholding.

3. Have Group Annual Sales Turnover of less than S$100 million OR Group Employment of less than 200 employees.

4. Be new to the target overseas market — meaning no prior revenue or established presence in that market.

Meeting these eligibility requirements is just the beginning. Submitting a successful application also requires comprehensive documentation and a well-thought-out plan.

Why the MRA Grant Matters for Singapore SMEs

1. Reduces Financial Risk

Venturing into a new market involves significant costs: research, marketing, logistics, legal fees, and more. The MRA Grant cushions the blow by reimbursing up to 50% of qualified expenses, making overseas expansion more viable.

2. Encourages Market Diversification

Relying solely on the domestic market can be limiting. The MRA Grant incentivises SMEs to spread their wings and diversify their revenue streams — which can help cushion against local economic downturns.

3. Enhances Brand Visibility Abroad

With funding support for promotional and branding efforts, SMEs can better position themselves in foreign markets through trade shows, digital marketing campaigns, and professionally designed collaterals.

4. Supports Sustainable Growth

Internationalisation often results in a more stable, diversified business with long-term growth potential. The MRA Grant acts as a stepping stone toward sustainable global expansion.

Why You Need an MRA Grant Consultant

While the MRA Grant is incredibly beneficial, applying for and managing it is not a walk in the park. This is why engaging an MRA Grant Consultant can make a significant difference. Here’s how:

1. Expertise in Grant Framework

MRA Grant Consultants are well-versed in the eligibility requirements, application process, and compliance conditions. Their experience ensures that you do not miss out on key documentation or make costly mistakes that can lead to rejection.

2. Maximise Grant Coverage

Consultants understand how to position your expenses to align with grant criteria. They can structure your project scope to include all eligible activities, ensuring that you receive the highest possible amount of funding.

3. Efficient Application Process

Time is money. Consultants help you prepare a compelling and complete application quickly. This reduces turnaround time and allows you to focus on your core business activities while they manage the administrative load.

4. Better Project Execution

Many MRA Grant Consultants also offer project execution services such as market research, branding, digital marketing, and business matching. This means you get both the grant and the support to implement your internationalisation strategies effectively.

5. Compliance & Post-Grant Reporting

Once you receive the grant, there are reporting and audit requirements to fulfill. Consultants help ensure you remain compliant and assist with claim submissions and documentation for smooth disbursement.

What to Look for in an MRA Grant Consultant

Not all consultants are created equal. When choosing an MRA Grant Consultant, consider the following:

• Enterprise Singapore Pre-Approved Vendor Status: Some consultants are recognised and pre-approved by Enterprise Singapore, making them more reliable.

• Industry Experience: Choose someone with a track record in your industry or target market.

• Full-Service Capability: The best consultants offer end-to-end services from application to execution to post-grant compliance.

• Transparency in Fees: Be clear about service charges and whether they are claimable under the MRA Grant.

• Client References: Ask for past client success stories to validate their effectiveness.

Common Mistakes to Avoid When Applying Without a Consultant

Many SMEs attempt to go it alone but fall into common pitfalls, such as:

• Submitting incomplete or inconsistent documentation.

• Not aligning expenses with eligible cost categories.

• Starting the project before grant approval (disqualifies the project).

• Underestimating the importance of post-grant claims and audits.

• Misinterpreting the market eligibility criteria.

These missteps can result in delays, rejections, or even repayment obligations. With a consultant guiding you, these risks are significantly reduced.

Conclusion

The MRA Grant is a powerful tool that helps Singapore SMEs explore and establish a foothold in overseas markets. But the benefits of the grant can only be fully realised with a strategic approach, careful planning, and flawless execution. Engaging an experienced MRA Grant Consultant transforms a daunting application into a smooth, efficient process — saving time, reducing errors, and maximising returns.

Whether you’re eyeing expansion into Southeast Asia, the Middle East, Europe, or beyond, don’t let bureaucracy be a barrier. With the right consultant by your side, your international journey becomes not only possible but profitable.

Looking to expand your business overseas with the MRA Grant?
Reach out to our experienced MRA Grant Consultants at GrantConsultant.sg today. We simplify the grant process and support your internationalisation journey — from strategy to success.