POSTED 15 Mar 2018 - 13:10

Resources and support for business exploration trips

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If I want to go aboard for a business exploration trip to understand the market conditions and legal restrictions so that I can set up an office, what resources and support can I consider and use?
Steven Ong
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Chew Mok Lee, Assistant CEO, Industry Clusters Group, Enterprise Singapore
14 Aug 2018 - 11:20

There are different types of assistance for businesses at various stages of their overseas expansion journey.

Companies keen to enter a new market can participate in overseas trade shows and missions led by Trade Associations and Chambers (TACs), which can help open doors to new markets for Singapore companies. Such exploratory business mission trips and trade fairs led by TACs can be considered for support under the International Marketing Activities Programme (iMAP).

Companies can be subsidised up to 50-70 per cent of qualifying expenses such as the rental for exhibition spaces, booth construction, publicity and fair or mission consultancy costs.

For those who are ready to engage help through partners in overseas markets, Enterprise Singapore’s Plug and Play network of nine partners provides pre-entry market advisory and research, customises business matching services and connects you to a network of in-market mentors, investors and networking via co-working spaces in China, India and the Southeast Asia markets. This can help to reduce the initial challenges of entering a new market.

Other sources of help for Singapore companies to expand in overseas markets includes the Market Readiness Assistance Grant. This grant supports overseas marketing activities such as taking part in trade shows, and finding business partners.

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