Maximizing Business Growth: A Comprehensive Guide to the MRA Grant

In the dynamic landscape of business, staying competitive and seizing growth opportunities often requires strategic investments and financial support. For businesses in Singapore, the Market Readiness Assistance (MRA) Grant serves as a valuable resource to facilitate internationalization efforts and expand into new markets. In this extensive guide, we’ll delve into the intricacies of the MRA Grant, exploring its purpose, eligibility criteria, application process, and the benefits it offers to businesses looking to scale globally.

Understanding the MRA Grant

The Market Readiness Assistance (MRA) Grant is an initiative by Enterprise Singapore designed to help Singapore-based businesses expand into overseas markets. By providing financial support and resources, the MRA Grant aims to enhance the internationalization capabilities of businesses and increase their competitiveness on the global stage.

Key Features of the MRA Grant

  1. Market Entry Support: The MRA Grant provides funding support for market entry activities, including market assessment, market entry strategy development, and market exploration trips. This enables businesses to gain insights into target markets and develop effective market entry strategies.
  2. Overseas Promotion: Businesses can utilize the MRA Grant to support promotional activities overseas, such as participation in trade fairs, exhibitions, and business missions. These initiatives help businesses showcase their products and services to international audiences and establish valuable business connections.
  3. Business Matching: The MRA Grant facilitates business matching activities by providing support for meeting arrangements, networking sessions, and business matchmaking services. This helps businesses identify potential partners, distributors, and customers in target markets and explore collaboration opportunities.
  4. Capability Development: In addition to financial support, the MRA Grant offers capability development workshops and seminars to equip businesses with the knowledge and skills needed to navigate international markets successfully. Topics covered may include market entry strategies, export procedures, and cross-cultural communication.

Eligibility Criteria for the MRA Grant

To qualify for the MRA Grant, businesses must meet the following eligibility criteria:

  • Registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Have a group annual sales turnover of not more than S$100 million or group employment size of not more than 200 employees
  • Demonstrate a clear intention and ability to internationalize
  • Not have received support for the same overseas activities under other government schemes

How to Apply for the MRA Grant

The application process for the MRA Grant involves the following steps:

  1. Preparation: Businesses should assess their eligibility and suitability for the grant, as well as identify target markets and overseas activities to be supported.
  2. Application Submission: Once ready, businesses can submit their grant application online through the Business Grants Portal (BGP), providing detailed information about the proposed overseas activities, expected outcomes, and budget.
  3. Evaluation and Approval: The grant application will undergo evaluation by Enterprise Singapore, where the proposed activities, market potential, and alignment with grant objectives will be assessed. Upon approval, businesses will receive a Letter of Offer outlining the grant conditions and funding support.
  4. Project Execution: With the grant approved, businesses can proceed with the execution of the overseas activities, ensuring compliance with grant requirements and reporting obligations.

Benefits of the MRA Grant

  1. Financial Support: The MRA Grant provides financial support to offset the costs of market entry and promotional activities overseas, making internationalization more accessible and affordable for businesses.
  2. Market Access: By supporting market exploration trips and business matchmaking activities, the MRA Grant helps businesses gain access to new markets and establish valuable business connections.
  3. Capability Enhancement: The MRA Grant offers capability development workshops and seminars to equip businesses with the knowledge and skills needed to succeed in international markets.
  4. Strategic Advantage: Access to the MRA Grant gives businesses a strategic advantage, enabling them to expand into new markets, diversify their revenue streams, and reduce dependence on domestic markets.


In conclusion, the Market Readiness Assistance (MRA) Grant plays a crucial role in supporting Singapore-based businesses’ internationalization efforts and expanding their global footprint. By providing financial support, market access opportunities, and capability development resources, the MRA Grant empowers businesses to navigate international markets successfully and drive sustainable growth.

If you’re a Singapore-based business looking to expand into overseas markets and maximize your global potential, consider exploring the Market Readiness Assistance MRA Grant offered by Finnex. With their expertise and commitment to supporting businesses in their internationalization journey, Finnex can provide personalized guidance and assistance to help you leverage the benefits of the MRA Grant and achieve your internationalization goals. Don’t miss out on the opportunity to unlock new growth opportunities and establish a strong presence in international markets – seize the benefits of the MRA Grant and take your business to new heights today!

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