MRA (OBD THAI)

MARKET READINESS ASSISTANCE (MRA) GRANT Do you want to expand your $ales to Thailand?

Grow your Business into Thailand @ 70% Grant support

MRA grant covers: 1. Overseas Market Promotion (capped at S$20,000) a) Overseas Marketing & PR activities (in-store, pop-up stores, roadshows) b) Physical / Virtual Trade fairs 2. Overseas Business Development (capped at S$50,000) a) Business Matching b) Overseas Market Presence (marketing / business development) i. In-Market Business Development (outsourced BD), or ii. Hire 1x Biz Dev staff & Rental office 3. Overseas Market Set-up (capped at S$30,000) a) Market Entry (advisory, legal, documentations expenses) b) In-depth FTA consultancy c) Trade Credit Insurance (TCI) with effect from 1 April 2021.

Your Overseas Market Expansion Phase 1 Market Entry: OVERSEAS MARKET Advisory, legal and documentation expenses SET-UP relating to: • Name search (Capped at $30,000 per new city) • Intellectual Property (IP) Search and application $ales into Thailand • Filing and registration for sales/ representative offices or equity entity • Implementation of recommended tax structures • Import and export licences • Drafting of franchising, licensing, agency, distributorship and joint venture agreements (limited to only the first set of such agreement) • Trade Credit Insurance (TCI)

Phase 2. Overseas Business Development covers: In-Market Business Development (capped at S$50,000): 3rd party costs relating to subscription costs of outsourced BD services for up to 12 months. Activities could include: • Preparation of local in-market BD personnel, product training • Embarking on BD activities to reach out to new business leads (online/offline channels) • Implementation of market entry activities • Regular updates on the progress of BD effort. • Reviewing market entry strategy and advice on setting up of entity in the market or future strategy plans, etc Deliverables: Detailed Consultancy report that could include but not limited to the following: • Updates of local in-market BD personnel’s progress, and documentation and outcomes of business meetings • Report on market updates, including advice on set-up of entity in the market or future strategy plans, etc.

Potential Sales Channels to build in Thailand: Offline Online Social media and more …

Overview Market Readiness Assistance (MRA) grant to help SMEs take your business overseas. Each application is limited to one activity in a single overseas market (up to 12months support). Eligible SMEs will receive the following support: Up to 70% of eligible costs, capped @S$100,000 per company per new market* (ie. a city) till 31 March 2023. What is the eligibility criteria for the MRA Grant? • Business entity that is incorporated in Singapore • At least 30% local shareholding (ie. PR, SG Citizen) • Company’s Group Annual Sales Turnover of not more than S$100m, or Company’s Group Employment Size of not more than 200 workers • New to target overseas market

With effect from 1 April 2020, a new market refers to a target overseas country, has not exceeded S$100,000 in overseas sales in each of the last three preceding years. Can a company with existing overseas presence or overseas sales apply for MRA support? Companies that have previously benefited from MRA, but whose overseas sales for that market has not exceeded S$100,000, can continue to be supported during the enhancement period of 1 April 2020 to 31 March 2023. Companies that have used up the maximum S$100,000 support for a particular market between 1 April 2020 and 31 March 2023 will not be eligible for any more MRA grants for that market. What is the maximum number of applications a company can apply for MRA? There is no limit to the number of MRA applications that a company can apply. This is to allow companies the flexibility to determine their pace of entry into the overseas market.