Market Reediness Assistance: A Comprehensive Guide to MRA Grants

In today’s fast-moving business world, turning your big ideas into reality often comes down to securing the right funding. That’s where the MRA Grant (Market Readiness Assistance Grant) comes in. For many SMEs in Singapore, this grant has been a game-changer—helping businesses expand overseas, strengthen competitiveness, and reduce the risks of venturing into new markets.

At VirtualAssist.sg, we’ve seen firsthand how confusing the grant landscape can feel for business owners. This guide breaks it all down into simple steps, so you can approach the process with confidence and clarity.

What is the MRA Grant?

The Market Readiness Assistance (MRA) Grant is a scheme managed by Enterprise Singapore. It helps SMEs take their first steps into international markets by subsidizing activities like overseas marketing, business development, and market set-up costs. Depending on the project, the grant can cover up to 50% of eligible expenses.

Think of it as a safety net—it allows you to explore growth opportunities abroad without taking on the full financial burden.

Understanding the Application Process

Applying for the MRA Grant may sound intimidating, but it’s quite manageable when broken down into steps:

1. Identify your target market – Select a market that aligns with your business goals.

2. Prepare your proposal – Outline objectives, budget, and expected outcomes.

3. Submit via Business Grants Portal (BGP) – Applications go through Enterprise Singapore’s portal for easier tracking.

4. Await approval – Your proposal will be reviewed for feasibility and eligibility. Execute & report – Once approved, carry out your activities and submit claims for reimbursement.

💡 Pro Tip from VirtualAssist.sg: Many applications get delayed due to unclear objectives or incomplete documents. Having expert guidance at this stage can save you time and frustration.

Types of Support Available

The MRA Grant Singapore generally covers three main areas:

• Overseas Market Promotion – Trade fairs, overseas marketing campaigns, lead generation.

• Business Development – In-market business matching, overseas sales support, consultants.

• Market Set-up – Registration fees, compliance costs, and legal expenses abroad.

By supporting these areas, the grant lowers the barriers for SMEs to expand confidently.

Eligibility Criteria

To qualify, your business must:

• Be registered and operating in Singapore.

• Have at least 30% local shareholding.

• Have annual sales turnover below S$100 million OR fewer than 200 employees.

• Be new to the overseas market (less than 3 years of sales there).

If you tick all these boxes, you’re off to a good start.

Tips for a Winning Application

Applying for the MRA Grant Singapore is competitive. Here’s how to stand out:

• Tell a clear story – Funders want to know why your project matters.

• Get your numbers right – Provide realistic budgets and justifications.

• Show commitment – Demonstrate that you’re invested, not just reliant on the grant.

• Avoid common mistakes – Don’t rush, skip documents, or stay vague.

Success Stories

Many SMEs have successfully tapped into the MRA Grant:

• F&B brands expanded regionally after participating in subsidized trade fairs.

• Tech startups hired overseas consultants to break into new markets.

• Retail and lifestyle brands launched overseas digital campaigns with reduced financial risk.

These stories prove that the MRA Grant can truly unlock opportunities for growth.

Need Help with Your Application?

The MRA Grant can be a fantastic stepping stone—but the process can still feel overwhelming. At VirtualAssist.sg, we help SMEs simplify the process: from preparing strong proposals to ensuring claims are filed correctly.

👉 If you’re planning to expand overseas, let us handle the grant details so you can focus on growing your business. Get in touch with us today.

Conclusion

The MRA Grant Singapore isn’t just about funding—it’s about giving SMEs the confidence to expand into new markets with support behind them. By understanding the process, preparing thoroughly, and avoiding common pitfalls, your business can take the leap into international growth.

At VirtualAssist.sg, we’re here to make that journey smoother. With the right strategy and support, your expansion dreams don’t have to stay on paper—they can become your next big success story.