MRA Grant
- a22162
- Dec 21, 2024
- 2 min read
Updated: Dec 30, 2024
Singapore MRA Grant Explained
The Market Readiness Assistant (MRA) Grant in Singapore is a funding initiative provided by Enterprise Singapore to support Singaporean companies in their efforts to expand their business overseas.
Key Points:
Purpose: To help companies establish partnerships with foreign counterparts and improve their competitiveness in the global market.
Funding: Provides financial assistance for a range of activities, including market research, business development, and marketing activities.
Eligibility: Open to Singapore-based companies with less than 200 employees or less than SGD100 million annual turnover.
Coverage: Can cover up to 50% of eligible costs, capped at S$100,000 per company per new market.
How it Works:
Application: Companies submit an application to Enterprise Singapore outlining their proposed overseas expansion plans.
Assessment: Enterprise Singapore assesses the application based on various criteria, including the company's business plan, market potential, and proposed activities.
Approval: If approved, the company receives funding to support their overseas expansion activities.
Reimbursement: Companies can claim reimbursement for eligible expenses after completing the approved activities.
Benefits:
Financial Support: Reduces the financial burden of expanding into new markets.
Expert Guidance: Access to resources and services to help navigate the complexities of international business.
Increased Competitiveness: Helps companies improve their global market presence and competitiveness.
To learn more and apply for the MRA Grant, visit the Enterprise Singapore website:
Enterprise Singapore: https://www.enterprisesg.gov.sg/financial-support/market-readiness-assistance-grant
How Bestar can Help
Bestar is a company that provides a range of services to businesses in Singapore, including:
Company Incorporation: We can help you register your company in Singapore, including obtaining necessary licenses and permits.
Corporate Secretarial Services: We can provide ongoing support for your company's legal and administrative requirements, such as maintaining statutory records and ensuring compliance with local regulations.
Financial Advisory: We can provide guidance on financial matters, such as accounting, taxation, and funding options.
Risk Management: We can help you identify and mitigate potential risks to your business.
Employment Pass Application: We can assist with the application process for Employment Passes for foreign employees.
Payroll Outsourcing: We can manage your payroll and HR functions, including processing salaries, taxes, and benefits.
IT and Software: We offer a range of IT and software solutions to help businesses improve their efficiency and productivity.
By utilizing Bestar's services, businesses can streamline their operations, reduce administrative burdens, and focus on their core business activities.
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