Important Webinar: Tax Deferrals, Moratoria on Bank Loans, Moratoria on the MDB Guarantee Scheme and the Wage supplement
14 April 2021
The Malta Chamber of SMEs would like to invite you to a webinar that will...
MCAST, together with the Ministry for Education and Employment, launched a new supplemented maintenance grant (stipend) for MCAST apprentices covering the summer period. This will take the form of an additional monthly allowance of €232.94 to each MCAST apprentice over the summer months.
This is intended to serve as an incentive to MCAST students undergoing work-based learning experience.
MCAST has taken over the apprenticeship scheme in order to bridge their students’ vocational courses to on-the-job training through quality apprenticeships with the support of employers who opt to benefit from the scheme. It has been noted however that over the previous years a number of apprentices terminate their experience prior to the finalisation of the work-based training period. An overhaul in the system has identified a number of concerns that are being addressed by MCAST to ensure higher standards. One of the reasons has been identified as the lack of financial incentive over the summer months where students participate in apprenticeships up to 40 hours per week with minimal financial compensation. The summer period often offers temporary jobs which may be more financially attractive than apprenticeships to these students even though these do not offer the learning experience and objective which is set as part of their course at MCAST. Therefore this incentive should provide support to address the concerns of employers hosting apprentices, that such students would drop out over the summer.
So far there are over 500 companies offering more than 700 apprenticeship posts which vary across different training fields such as Finance, Business Administration and Marketing, Electronics and Mechanical Engineering, Agriculture, Construction, Applied Science, Sports, Hairdressing and Beauty. The increasing apprenticeship opportunities enhance the level of education and training offered to students at MCAST by providing on-the-job training that helps create a more work-based labour market. On the other hand, employers also benefit from the services of motivated young students over their period engaged with the specific company.
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).