Companies looking to market products and services overseas can defray up to 70% of third-party costs through the MRA grant.
Companies can apply for financial assistance for pre-determined activities focused on overseas market set-ups, identification of overseas business partners and overseas market promotion.
- 70% of the eligible cost for activities listed below, capped at S$20,000 per company per fiscal year
- Maximum of two applications per fiscal year, starting on 1 April and ending on 31 March the following year
- Limited to one activity (e.g. market entry, or participation in a trade fair) per application
OVERSEAS MARKET SET-UP
|Market Entry||Advisory, legal and documentation expenses relating to:
||Proof of completion includes but is not limited to:
|Business Matching||Third-party costs incurred to identify potential business partners and/or customers (B2B) including the following:
||Detailed report on the profile of the potential customers/ partners for the company in the selected market and business matching outcomes|
OVERSEAS MARKET PROMOTION
|Overseas marketing and PR activities||Third-party costs incurred for:
||Proof of completion should include but not be limited to the following:
|Participation in overseas trade fairs NOT supported under International Marketing Activities Programme (iMAP)||Third-party cost incurred for:
||Proof of completion should include but is not limited to the following:
All Singapore-based small and medium enterprises (SMEs) that have:
- Global HQ anchored in Singapore
- Annual turnover of less than S$100 million per annum based on the most recent audited report
- Financial Assistance – This is the main area you’re interested in since it’s the one where the money comes in. This chapter covers several types of expenses for companies seeking to develop new branches abroad. They receive financing, taxation rebates, and cost coverage for industry-related events.