MDB issues new scheme with revised collateral requirement after the Malta Chamber of SMEs highlights difficulties
23 September 2020
Following problems flagged by members on accessing the MDB loan scheme, the Malta Chamber of...
Report says that gains made by the Single Market Act – will not claw back all the losses caused by the crisis – National industry ministers and European Union policy-makers meeting in Copenhagen this week will hear businesses demand that more public services should be outsourced to the private sector to promote growth.
A report published yesterday indicates that gains made by the Single Market Act – the European Commission's blueprint for opening up the single market – will not claw back all the losses caused by the financial crisis.
The study, carried out by Copenhagen Economics and commissioned by the Confederation of Danish Industry, a member of Business Europe, predicts a loss of potential gross domestic product (GDP) of 20% in the EU between 2008 and 2017, representing €240 billion per year. Implementing all the priorities listed in the Single Market Act would increase the overall GDP of the EU an estimated 5%.
With no room left for further loosening of fiscal policy in the EU's member states, the report's authors suggest that, to help make up the shortfall, the EU needs to make it easier for the private sector to deliver services normally run by public bodies. This, they add, could lead to a 10%-20% increase in cost savings.
Sinne Backs Conan, a European affairs director with the Confederation of Danish Industry, said that a major increase in the use of the private sector was a "taboo" that had to be broken, in the same way as the financial crisis was forcing the EU to look at pension reform and tax harmonisation. "The private sector can unlock growth. We have to be more radical," she said.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).