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Introduction
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We are EDG Certified Consultants and have worked with companies from all walks of industries, helping them go digital with EDG Grant up to 50% + S$ 10k Skills Future Enterprise Credit!
The Market Readiness Assistance MRA grant is a scheme supported by Enterprise Singapore ESG. That’s why it’s also commonly known as the ESG MRA Grant. Local businesses and SMEs who wish to internationalize their business can benefit from this scheme and cater to their financial needs in the expansion process.
The grant addresses the financial needs of business owners, such as:
Eligible businesses can avail a significant percentage of their total expenses by submitting the MRA grant application. If the business meets the eligibility criteria, it can make it much easier for business owners to expand their business across borders.
We assure you our team will guide you from start to end like a strategic partner. We are unlike other agencies that work with volume. We will guide you throughout the entire process as well!
As a SAC-credit firm, our company enjoys more credibility and trust, which only makes your business look good to attract more confidence from the stakeholders.
With powerful business analytics tools, we make sure that your numbers are just perfect.
Our professionals have market access that can potentially link you to new markets, helping you expand your business with reliability.
Depending upon the nature of the business and the requirement of funds, the EDG MRA grant can support up to 70% of the total expenses disclosed at the time of application. If a business satisfies the MRA grant eligibility criteria, it can receive substantial financial support to fast pace the expansion process.
The MRA grant application process is quite strict, considering that the ESG supports up to $100,000 in financial support. Therefore, it’s critical to provide the correct and essential business details to stand a chance for the MRA grant approval.
If you want to apply for the Market Readiness Assistance Grant, here are the eligibility criteria to be fulfilled.
There are three components of the MRA grant for your business, so it’s essential to understand what areas the MRA grant addresses.
Firstly, you must know that the $100,000 cap for each company is divided into three main categories.
The overseas market promotion component is the first of the three MRA grant components. It has a cap of $20,000 provided for businesses willing to promote their company or brand in the overseas market.
This component focuses on creating brand awareness among potential overseas audiences. It’s recommended for B2B and B2C businesses. who want to sell their products or services in international fairs and events.
The Overseas Business Development component enjoys the largest share of the grant, capped at $50,000 per company. This component aims to establish a presence in the overseas market and create a network of clients or partners to establish the business foundation.
The business development component is suited for B2B companies who want distributors, partners, franchisors, and clients who would buy their products.
The third component is the Overseas Market Setup capped at $30,000 funding per company. This component is suited for businesses that want to set up a company in the target market.
This component aims to provide full control for business owners over their businesses in any foreign region. The idea is to maintain a physical presence in the overseas market.
This is an ideal option for SMEs with a business in the target market and the owners plan to stay in the target country for longer durations. Hence, the component can cover work visa expenses and similar costs.
The Enterprise Development Grant is an initiative by Enterprise Singapore, a Government agency championing enterprise development. The EDG aims to support businesses in their efforts to innovate, transform, and expand beyond Singapore’s shores. It provides financial assistance for projects in three key areas:
This program is designed to incentivize businesses to invest in upgrading their capabilities, exploring new markets, and adopting innovative solutions. By doing so, the grant aims to enhance the overall competitiveness and resilience of Singaporean enterprises, enabling them to thrive in an evolving global marketplace.
The MRA grant application process is quite simplified. It involves the submission of the necessary documents. Here is how you can apply for the Market Readiness Assistance Grant.
Typically, it takes eight to twelve weeks to earn a grant approval. More importantly, it’s essential to apply for the grant at least six months before starting a new project.
Market Readiness Assistance grant has some obvious benefits. While it supports the financial structure of the business, it also brings about some other valuable benefits, such as:
The MRA grant Singapore is an excellent option for local SMEs to expand without feeling the financial burden. The MRA grant scheme offers flexible solutions enabling local business owners to enhance their imagination and focus on a much larger audience that can become their potential buyers.
If you own a business and are looking for solutions regarding the MRA grant, contact us, and we will guide you with an optimal solution for the application process.
We are EDG Certified Consultants and have worked with companies from all walks of industries, helping them go digital with EDG Grant up to 50% + S$ 10k Skills Future Enterprise Credit!
The ESG Productivity Grant is also known as the Productivity Solutions Grant. It is a government initiative looked after by Enterprise Singapore that promises business acceleration and upgradation through quality grants.
The ESG grant aims to ensure local businesses that adopt equipment and technological solutions to improve business efficiency receive the deserved funding for their efforts. The ESG PSG Grant is one of the key elements responsible for the digital transformation of businesses to help them grow in a competitive and evolving market.
We assure you our team will guide you from start to end like a strategic partner. We are unlike other agencies that work with volume. We will guide you throughout the entire process as well!
As a SAC-credit firm, our company enjoys more credibility and trust, which only makes your business look good to attract more confidence from the stakeholders.
With powerful business analytics tools, we make sure that your numbers are just perfect.
Our professionals have market access that can potentially link you to new markets, helping you expand your business with reliability.
The Market Readiness Assistance (MRA) grant is an initiative by the ESG for local SMEs. It allows them to expand beyond Singapore. This grant aims to establish the business by ensuring entry into the market. It provides funding for market entry assessment, in-market business development, business matching activities, etc., which can help a business with overseas market entry.
The eligibility criteria for availing the ESG PSG grant is a multi-step process involving multiple documentation and financial requirements. It ensures that only medium and small-sized businesses having limited manpower can avail of the grant. This way, only the most deserving companies can access the grant of up to S$30,000. So, here is what you should know about the eligibility criteria:
The ESG Productivity Solutions Grant is awarded after rigorous scrutiny. It covers up to 50% of the eligible costs for local SMEs. Eligible businesses can earn a grant award of up to S$30,000 based on their application and business goals, specifically related to digital transformation.
All applications are processed six weeks after submitting all the documents and requirements. Based on the application, it can take up to four months for the application process. However, the ESG contacts the applicants eight to ten weeks after document submission.
While there are hundreds of business niches, the ESG aims to provide support to businesses that provide:
Sector-specific solutions are targeted at businesses operating within specific industrial sectors. These are tailored solutions that fit the criteria for sector-specific agencies, which then collaborate to align such solutions with the industry roadmaps like the Industry Transformation Maps (ITMs) and Industry Digital Plans (IDPs). These solutions solve unique business challenges, boosting productivity in niche industry sectors.
Generic solutions can be implemented by companies operating in diverse business sectors and industries. They are tailored to enhance the efficiency of common business operations and procedures. Such solutions offer advantages to organizations, irrespective of their specific industry or sector.
The Enterprise Development Grant is an initiative by Enterprise Singapore, a Government agency championing enterprise development. The EDG aims to support businesses in their efforts to innovate, transform, and expand beyond Singapore’s shores. It provides financial assistance for projects in three key areas:
This program is designed to incentivize businesses to invest in upgrading their capabilities, exploring new markets, and adopting innovative solutions. By doing so, the grant aims to enhance the overall competitiveness and resilience of Singaporean enterprises, enabling them to thrive in an evolving global marketplace.
Thanks to the PSG program, there is 50% financial support for eligible businesses capped at S$30,000. It can boost the finances of any business and help them pay any debts or start operational and technological acceleration. Simply put, it supports businesses in bypassing budget constraints that often prevent them from taking productive initiatives.
Yes, the ESG Singapore Grant motivates businesses to improve their technological and operational processes by adopting automated and simpler ways to complete various business tasks. Enterprise Singapore prefers businesses that aim to streamline, optimize, and automate manual tasks, allowing business owners to spend more time on productive ideas. Such initiatives reduce operational costs and boost efficiency, enabling businesses to stay ahead in a competitive environment.
When you leverage the technological aspects of your business, you boost your efficiency and improve your capabilities of serving your customers. Integrating digital solutions can improve your business agility and responsiveness to clients, which means more customers for your business. Eventually, it improves your standing in the marketplace, allowing you to serve more customers and get a competitive edge over your peers.
The following documentation is required for the ESG grant application.
Getting the ESG Singapore grant is a great way for businesses to improve their technological and operational processes. However, the process can be slightly confusing for new business owners. Moreover, as business owners are already occupied with jobs to improve their business, it’s a good idea to seek professional help filing the ESG grant application.
If you own a business or startup and are looking to apply for the ESG grant Singapore, contact us, and we will take you through the entire application process, making it easier to earn your deserving business grant.
In today’s digitally-driven world, personal branding and marketing strategie have become vital for influencers to thrive in their respective industries. […]
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