Singapore has long punched above its weight in global trade, and the numbers from 2025 confirm this trajectory. Total merchandise trade expanded by 8.7% to reach S$1.4 trillion, while non-oil domestic exports (NODX) grew 4.8% for the year. Behind these headline figures lies a deliberate, well-funded policy architecture designed to push small and medium-sized enterprises beyond the domestic market — a necessity given Singapore’s limited home consumer base.
Minister of State for Trade and Industry Alvin Tan has been explicit about this strategic direction. Speaking at the Industrial Transformation Asia-Pacific 2025, he urged SMEs to adopt a “born global” mindset, arguing that this orientation would enable them to attract partnerships with multinational corporations, which are global by nature.
The most significant recent development is the enhancement of the Market Readiness Assistance (MRA) grant. From 1 April 2026, support levels for SMEs have been raised to 70% of eligible costs — up from the previous 50% — and the S$100,000 grant cap per new market has been extended through 31 March 2029. Critically, from the second half of 2026, companies can also receive support to deepen activities in existing overseas markets, not merely enter new ones. This shift acknowledges that sustainable export growth often requires sustained investment in markets where SMEs already have a foothold.
The Business Adaptation Grant (BizAdapt), operating from 7 October 2025 through 6 October 2027, addresses a specific pain point: enterprises affected by US tariff measures. It covers up to 50% of eligible costs for SMEs, capped at S$100,000 per company, supporting advisory services in FTA compliance, legal matters, and supply chain optimisation. For manufacturers with overseas operations, the grant also supports reconfiguration costs related to logistics and inventory holding. This programme represents a direct policy response to the geopolitical uncertainties reshaping global trade flows.
Beyond grants, the Enterprise Financing Scheme (EFS) has been substantially enhanced. From 1 April 2026, companies can tap facilities across the scheme up to a maximum of S$50 million per borrower group, providing greater flexibility for overseas expansion activities. The EFS-Merger & Acquisition enhancement, initially temporary, has been made permanent to support both domestic and overseas M&A. Additionally, the Double Tax Deduction for Internationalisation (DTDi) now covers a wider range of qualifying activities with an automatic claim cap raised to S$400,000 from year of assessment 2027.
SMEs seeking to leverage these programmes can access them through the Business Grants Portal. Enterprise Singapore also operates more than 35 overseas centres globally, providing market intelligence and facilitating introductions to in-market partners. The Centre for the Future of Trade and Investment, launched in partnership with the Singapore Business Federation, offers advisory services on tariff and FTA-related queries.
