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Singapore’s Market Readiness Assistance MRA Grant Application Process

Singapore SMEs must recognise that they cannot sign a contract, make a payment, or commence work without first submitting the Market Readiness Assistance MRA grant unless they are deposits for trade exhibitions.

Once accepted, customers must follow the terms and conditions indicated in the contract. This includes only spending the money for the objectives mentioned in the proposal and adhering to any other deliverables established by 新加坡企业发展局.

Clients should also retain precise and complete records of all costs, as they may be required to deliver to Enterprise Singapore for audit as part of the claims process. Clients should also be informed that they must employ an accredited auditor to check their claims before submitting them. ESG gives audit financing of up to S$500.

Overall, clients must completely grasp and adhere to the terms and conditions to achieve a happy and successful end.

What is the objective of MRA Grant?

The Market Readiness Assistance (MRA) Grant allows Singaporean enterprises to obtain up to S$100,000 in financing help to cover 50% of the costs associated with company growth, promotion, and early expenses when expanding into a foreign market.

What is the eligibility criteria for the MRA Grant?

  1. A lawfully registered firm that conducts business in Singapore can apply.
  2. Singaporeans or Singapore Permanent Residents must possess at least 30% of the firm, either directly or indirectly, according to the final individual ownership.
  3. The firm is newly entering overseas markets.
  4. The company’s group’s total sales turnover cannot exceed S$100 million, nor may the group’s total number of workers exceed 200.

What benefit does the MRA Grant provide for my business?

Enterprise Singapore has approved grants for up to half of local small and medium-sized businesses to cover qualified expenditures. Each firm can receive up to S$100,000 for each new country. The sponsored activities that are eligible for this award include:

  • Marketing products or services in overseas markets (limited to S$20,000 for market promotion).
  • Establishing a presence in international markets, including the use of intellectual property, costs S$30,000 for market set-up and S$50,000 for commercial growth.

How long does it take to approve the grant?

由于提交的申请数量巨大,处理时间为8-12周,而不是通常的6-9周。

申请MRA补助困难吗?

It is laborious but not difficult to implement. The completeness and accuracy of your documentation determine how soon it is accepted. Thus, we strongly advise outsourcing the document preparations to ensure a seamless application.

新加坡的永久居民可以申请MRA补助吗?

Yes, they can.

What are the requirements for sales in the target market to qualify as a new market?

This refers to a new foreign target country that the company is venturing into, where its yearly sales in the target market must not have exceeded S$100,000 in any of the preceding three years.

Is it possible for a company that already operates internationally or has sales overseas to apply for MRA assistance?

Companies that have previously benefited from MRA but have not established international sales surpassing S$100,000 in a given market can still obtain assistance.

However, enterprises that have already used the maximum assistance amount of S$100,000 for a certain market will no longer be eligible for future awards in that market.

What is the maximum number of MRA applications that a firm in the designated market can submit?

Companies can make as many entries as they like because there is no defined maximum restriction. This enables them to personalize and regulate the rate at which they grow into overseas markets.

Can a corporation apply in more than one new target market at the same time?

Certainly, provided that the new nation conditions are met and the projects fit under each activity award sub-limit.

Will the S$100,000 grant ceiling apply if both the parent firm and its subsidiary apply for the MRA Grant?

During the term, each different entity/business may receive up to S$100,000 in grants. Enterprise Singapore will review submissions based on the applicant company’s globalization strategies. ESG will classify any distinct applicant organizations with similar business registration information (such as kind of company, location, shareholders/directors, and so on) as related enterprises and subject them to a combined grant ceiling of S$100,000 throughout the term.

Can a firm receive funding from both the Enterprise Development Grant (EDG) and the MRA Grant simultaneously?

Indeed, enterprises that match the conditions can apply for both EDG and MRA funding through Enterprise Singapore or other organizations, as long as the work, services, or activities funded do not overlap.

What is the maximum period of assistance for an approved activity under the MRA Grant?

12 months.

When can a corporation start the project?

Companies can proceed with signing the contract with the third-party consultant/vendor after submitting their application through the Business Grants Portal. The project start and end dates must match the project assistance term provided on the Business Grants Portal.

Is it necessary for a corporation to choose consultants from Enterprise Singapore’s provided list?

Except for the list of FTA and Trade Compliance consultants published by Enterprise Singapore, firms can seek bids from various sources or approach their chosen experts directly. Before hiring consultants, organizations should conduct extensive research and evaluations.

What assistance is available for businesses experiencing difficulties throughout the MRA application process at the Business Grant Portal (BGP)?

MRA provides advisory services via face-to-face, WhatsApp, email, and other communication methods for inquiries and replies. When it comes to quotes, we provide input to make sure the text is clear and understood. For business plans, we give input on particular areas such as market position to help improve your BGP proposal. When examining grant application forms in the BGP, we ensure that the amount funded, all dates, numbers, and facts are accurate and consistent. We maintain a two-tier security approach by engaging with SME center officials on expertise and verification.

After approving the grant, we will walk you through the claims process via the business grant site. The audit grant cost will be S$500. The MRA claims are subject to approval.

Who will apply for the MRA award on my behalf?

Finally, the company’s business director/employee should log in using their Singpass to complete the BGP filing. The individual who accepts the letter of offer should be the company’s director. Nonetheless, we can aid you in putting together your whole application until you are ready to log in, review, and submit it.

When will the financing end?

The Singapore Government normally releases its Budget Statement in February, during which it announces its decision on the destiny of the MRA, including whether it would prolong, grow, reduce, or stop the enhanced ceiling of up to S$100,000, which will be extended until March 31, 2025.

Can a freshly established/one-year-old firm apply for the MRA grant?

Establishing eligibility might be difficult for a freshly created firm. However, if an existing brand or firm is forming a new corporation for an international project, they can submit an explanation and gain clearance.

例如,一家新加坡公司Mr Mala Hotpot Pte Ltd成立了新的子公司MH Franchise Pte Ltd,以促进在中国的商业匹配。该公司可以利用其母公司的强大支持来建立项目的可行性。

因此,对于成立不超过一年的新企业来说,获得MRA可能会很困难,因为申请程序会考虑到前一年的财务结果。然而,如果一家公司在新加坡表现良好,且不满一年,他们可以更有信心地通过申请流程。

一家休眠公司可以申请MRA补助金吗?

除非休眠公司有知名品牌/业务(例如子公司或相关公司)的支持,以证明其休眠状态及申请流程的扩展可行性,否则不建议休眠公司申请。

例如,一家本地新加坡知名公司Trading Hotpot Pte Ltd有一个因缺乏国际合同而不再运营的休眠子公司THC Pte Ltd。如今,THC准备将其知识产权扩展到中国,可以利用母公司的支持来证明项目的可行性。

我的补助金会被拒绝吗?

根据我们的经验,我们没有通过BGP收到官方的“拒绝信”。相反,EnterpriseSG可能会排除他们认为不符合条件的项目。因此,他们通过不支持这些项目有效地“拒绝”您的报价中的某些条目。

这就是为什么我们建议在客户申请之前向他们说明资格要求,以便他们了解哪些项目在提供的金额方面是符合或不符合条件的。

拒绝MRA申请最常见的原因是什么?

通常不会拒绝,尽管某些费用可能被视为无效。您将无法通过BGP获得这些特定费用的补偿。例如,如果您对员工补偿的申请包括未涵盖的航班和住宿费用,它将被拒绝。同样,如果您的办公室申请超出了一个人的指定区域,费用将按比例分配。

电子商务公司可以申请MRA吗?

是的,它适用于所有行业和企业。然而,较小的电子商务企业可能会面临对其发展可行性的严格审查,并可能发现为小额资助所需的繁文缛节不值得付出。

我们帮助较大的电子商务公司从中国和印度获得商品,并建立离岸工厂或仓库。

初创企业和小型企业可以进入MRA申请流程吗?

可以。初创企业,特别是成立不满一年的企业,需要证明项目的可行性,因为您去年的财务报表将被评估。如果您有更好的公司表现,您可能会更有信心提交申请。

个人独资或合伙企业可以申请吗?

可以。通过BGP申请的主要商户实体有4种类型:

  1. 个人独资或合伙企业
  2. 有限合伙企业(LP)也可以根据其集团年销售额和集团雇佣规模通过BGP申请。
  3. 有限责任合伙(LLP)
  4. 公司

这些实体也可以根据其集团年销售额和集团雇佣规模通过BGP申请。

结论

最后,导航 市场准备援助(MRA) 这一程序可能是新加坡中小企业寻求在海外市场扩展的重要步骤。理解申请过程、资格要求和使用规则的复杂性对于成功结案至关重要。从遵循提交前流程到保持详尽记录以备后期审核,每一步都是关键。本详细FAQ指南提供的见解可以帮助企业做出明智的决策,最大化MRA补助金的好处。通过谨慎、战略性准备和专业建议,中小企业可以自信地开始他们的海外发展之旅,知道他们将获得成功所需的支持。

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