If you’re ready to take your business overseas and expand into foreign markets, you probably already know that it will take a lot more than a great idea.

An effective execution plan is fundamental, and it is one of the main financial concerns for many small and medium enterprises (SMEs) and startups, especially if you’re looking to conquer the Southeast Asian region. It is also essential to have detailed information on key markets, as this would boost your business operations beyond Singapore.

This is where the MRA grant comes in.

The MRA grant in Singapore provides financial support for your business in expansion and overseas business developments, especially for local companies looking at key foreign markets.

The support that an MRA grant can give your business is as follows (based on site):

  • Up to 70% of eligible costs, capped at 20K per company per fiscal year that covers:
    • Maximum of two applications per fiscal year, starting 1 April and ending 31 March the following year
    • Limited to one activity (e.g. market entry, or participation in a trade fair) per application

Note: The MRA Grant support level of up to 70% will be extended until 31 Mar 2020.

And if you’re looking for a little extra, the EDG grant also offers additional assistance.

The EDG grant in Singapore helps to boost the business’ innovation and productivity growth in order to expand overseas. With the financial means (and great savings) to help set-up the foundation of the business to take it to the next step, SMEs and startups are encouraged and motivated to tread foreign waters and expand their market.

Mainly, this grant supports (based on site):

  • Funds up to 70% of qualifying project costs namely third-party consultancy fees, software and equipment, and incremental internal manpower cost.

Where can I find these grants?

An EDG consultant in Singapore or an MRA grant consultant appointed by SPRING Singapore (now known as Enterprise Singapore), a government body supporting enterprise development, is highly capable of providing professional advice for businesses looking to grow their operations, either in terms of productivity, innovation or overseas business developments.

Having been in the creative industry with 10 combined years of experience, Tomorrow Group holds a strong team of highly conceptual and accomplished designers that deliver outstanding work and results for valued clients. With services ranging across the creative spectrum, such as branding and marketing strategy, Tomorrow Group also offers professional consultancy in business strategy and enabling companies to obtain grants to kickstart their business development plans.

We help businesses form effective strategies to grow their brand using great design.

We help you plan for a better Tomorrow.

 

Think this might be the push that your business needs? Talk to us at ask@tomorrowgrp.com and

find out how we can take your business to the next level.