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What is the MRA Grant?
The Market Readiness Assistance grant helps companies expand into new markets overseas by defraying the costs of overseas market promotion, business development and set-up.
Support Level
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Eligibility
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Process
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Why Choose RIC
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Our Success Cases
Technology Company Expands Into Australia
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Construction Services Company Expands into UAE
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Regulatory Technology Company Expands into Europe
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Our Service
End-to-End Grant Execution
Application
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Securing Offer
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Claims
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Fees & Commercials
Fees |
Payment Milestones |
Management Fee equivalent to:
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Deposit SG$900 before start of engagement. Refundable.
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To ensure compliance with grant regulations and offer letter terms & conditions:
- RIC will not submit the grant on your company's behalf. The grant has to be submitted using your company's Corp-pass account
- RIC's management fee will not be submitted for grant support, nor be paid out from the grant money received. The grant is meant to only offset the costs of qualifying project costs.
FAQs
What documents are necessary for the application process of the MRA grant?
To apply for the Singapore Market Readiness Assistance (MRA) Grant, applicants are required to submit various documents. The MRA grant aims to assist Small and Medium Enterprises (SMEs) with their international expansion and market establishment efforts, offering services such as consultancy and business matching in the target market. Eligibility for the MRA grant is contingent upon meeting Enterprise Singapore's criteria and having a detailed plan for overseas growth.
The application process involves several documents to be submitted:
The application process involves several documents to be submitted:
- Firstly, the SME must verify their business activities through their BizFile.
- Secondly, submission of the company’s financial statements is required.
- Additionally, a quotation and proposal from a chosen vendor must be included.
Is it possible for a dormant company to apply for MRA grant?
It's not recommended to apply for a dormant company status without the support of an established brand or business (for instance, a subsidiary or a related company) to justify the circumstances and prove the potential for growth.
Can a newly set up company/1 year old company apply for the MRA grant?
Newly founded companies might encounter difficulties in proving their eligibility for the MRA grant, as their projects could be viewed as lacking viability. Nonetheless, when a new company is launched by an established brand or business for an overseas project, they can furnish explanations and secure approval.
Companies that are one year old or younger may face hurdles in securing the MRA grant, as the evaluation process often involves reviewing financial statements from the previous year. However, demonstrating strong performance in Singapore within a brief period could enhance the credibility of their application.
Companies that are one year old or younger may face hurdles in securing the MRA grant, as the evaluation process often involves reviewing financial statements from the previous year. However, demonstrating strong performance in Singapore within a brief period could enhance the credibility of their application.
What support is available for companies encountering challenges during
the MRA application process in the Business Grant Portal (BGP)?
the MRA application process in the Business Grant Portal (BGP)?
Our Assistance to you includes the below:
- We offer MRA support consultancy through various communication channels such as face-to-face meetings, WhatsApp, and email for any queries.
- For quotations, we provide feedback to ensure clarity and comprehension.
- Regarding business plans, we offer insights on key aspects like market positioning to strengthen your application through the Business Grant Portal (BGP).
- In the process of reviewing your grant application on the BGP, we meticulously verify the supported amount, all dates, numbers, and details for precision and consistency.
- We implement a dual-layer security protocol by engaging with SME center officers for their specialized knowledge and scrutiny.
- Upon grant approval, we navigate you through the claims procedure on the business grant portal, noting that an audit fee of S$500 will be applied. Approval of MRA claims is conditional.
If both the main company and its subsidiary apply for the MRA Grant, will
they have to comply with the S$100,000 grant cap?
they have to comply with the S$100,000 grant cap?
During the specified period, a cap of S$100,000 in grant funding is available for each unique entity or business. Enterprise Singapore will evaluate the applications based on the applicant company's strategies for international expansion. If separate applicant companies share similar business registration details (such as business nature, location, shareholders/directors, etc.), they will be regarded as affiliated businesses. Consequently, these related companies will collectively face a cumulative grant ceiling of S$100,000 throughout the period.
How long does it take to get the grant approved?
Due to the large number of applications submitted, it takes 8-12 weeks to process rather than the usual 6-9 weeks.
What if my package includes marketing and promotion in multiple
countries?
countries?
Proper application can ensure the coverage of all expenses since the MRA grant includes support for marketing activities in new markets. It is recommended to prepare an individual quotation for each country and proceed with respective submissions. Failing to do so might result in EnterpriseSG officers adjusting your grant proportionally based on the targeted country
How soon can I get reimbursed for the grant?
Claims can only be submitted after the completion of the business expansion project and must be filed within three months from the project's conclusion. Companies are required to hire an independent auditor to validate all expenses and provide necessary documentation. Should a company opt for an auditor appointed by ESG, they are eligible for an audit grant fee, which is limited to either S$500 or 70% of the audit fee, whichever is less.
Following the project's completion, conducting an audit typically ranges from one to two weeks before submission to ESG for reimbursement.
In cases where the MRA grant is utilized for salary expenses over a 12-month period, claims can only be made after the full 12 months have elapsed and once all salary payments have been fully made.
Following the project's completion, conducting an audit typically ranges from one to two weeks before submission to ESG for reimbursement.
In cases where the MRA grant is utilized for salary expenses over a 12-month period, claims can only be made after the full 12 months have elapsed and once all salary payments have been fully made.
Can I start work before the Letter of Offer?
Yes, as long as the start date is AFTER the grant application date, and the work is not considered a retrospective.
An application is deemed to be retrospective if any of the following events took place before submission via Business Grants Portal:
Project commencement and completion dates must be in accordance with the project support period stipulated in the Business Grants Portal.
An application is deemed to be retrospective if any of the following events took place before submission via Business Grants Portal:
- Made a payment including initial deposit to the third-party consultant/vendor
- Signed the contractual agreement/purchase order with the third-party consultant/vendor
- Commenced the project with the third-party consultant/vendor
Project commencement and completion dates must be in accordance with the project support period stipulated in the Business Grants Portal.
Can directors claim their salaries under the MRA grant if posted overseas?
Directors (and shareholders) registered under ACRA cannot claim salaries under the MRA grant when posted
overseas.
overseas.
What is the maximum number of applications a company can apply for MRA?
There is no limit to the number of MRA applications that a company can apply. This is to allow companies the flexibility to determine their pace of entry into the overseas market.