Author: SME Chamber

Mr. Paul Abela, President of the Malta Chamber of SMEs, participated in a recent edition of PBS’s current affairs programme Popolin, where he joined a panel to discuss Malta’s long-term strategic plan, Malta Vision 2050, and its implications for the local business landscape.

During the programme, Mr. Abela emphasized the importance of placing small and medium-sized enterprises (SMEs) at the heart of the nation’s economic future. He highlighted the pivotal role SMEs play in driving growth, employment, and innovation, noting that “SMEs must not be sidelined in the shaping of Malta’s vision, but rather be empowered to lead within it.”

Echoing the Chamber’s recent press release, Mr. Abela welcomed the Malta Vision 2050 initiative, which aims to reshape the country’s economy towards a more sustainable and forward-thinking model. The SME Chamber has long advocated for the creation of a unified national vision and believes that this roadmap presents a unique opportunity to realign Malta’s economic priorities.

“The Malta Chamber of SMEs urges stakeholders and policymakers to ensure that SMEs are placed at the forefront of this initiative. As primary contributors to the Maltese economy and the backbone of the country, SMEs must be central to the development and implementation of the Vision,” the Chamber stated.

With over 99% of all enterprises in Malta classified as SMEs—97.8% employing fewer than 50 people—the Chamber stressed that their voices must be heard in shaping economic policy. Key areas for SME contribution include innovation and technology, sustainability, and skill development.

The SME Chamber reiterated its commitment to working collaboratively with government, industry, and the wider community to ensure that Malta Vision 2050 delivers inclusive and impactful results.

Officials from the Malta Chamber of SMEs, together with members of the Landlords Committee, met with the Housing Authority to discuss recent rent law changes.

The follow-up meeting with the Housing Authority focused on various tenancy management and enforcement concerns. This discussion forms part of a broader, ongoing process that began several months ago, including previous engagements aimed at clarifying key issues. The outcome of this dialogue will be a comprehensive document addressing all identified matters.

In parallel, and following a recent webinar hosted by the Malta Chamber of SMEs, a set of Frequently Asked Questions has been published on the Housing Authority’s website. These FAQs are intended to provide clarity on common issues faced by tenants and landlords and will be regularly updated in coordination with the SME Chamber to reflect new developments and questions.

Malta Chamber of SMEs Deputy President and Chairman of the Town Centre Management Paceville, Mr. Philip Fenech, joined Minister Byron Camilleri at a press conference announcing the installation of 40 CCTV cameras in Paceville by this summer.

The initiative is aimed at improving public safety and reducing crime, accidents, and abuse in key hotspots. St. Julian’s Mayor Guido Dalli also attended the event.

Article by Dr Roberta Lepre – Managing Director WEAVE Consulting

The European Commission’s Strategic Foresight Report 2023 highlights the urgent need for a sustainable economic transition. It underscores how businesses must adapt to geopolitical shifts, funding challenges, social cohesion concerns, and rising sustainability demands. For SMEs in Malta, this is not just a compliance exercise—it’s an opportunity to future-proof their business models, enhance resilience, and tap into new markets.

At Weave Consulting, in collaboration with the Malta Chamber of SMEs, we are actively supporting businesses in navigating these transitions. By identifying key ESG (Environmental, Social, and Governance) priorities, SMEs can not only mitigate risks but also unlock financial, operational, and reputational advantages. This article will explore key takeaways from the Strategic Foresight Report and outline actionable ESG steps for SMEs.

Why ESG Matters for SMEs

1. Adapting to a Net-Zero Economy

The EU is accelerating its transition to a net-zero economy, with sustainability at the core of its competitiveness strategy. This means stricter environmental regulations, higher expectations from supply chain partners, and increased financial incentives for sustainable businesses.

What SMEs Can Do:

• Conduct an ESG audit to assess environmental impact.
• Improve energy efficiency through renewable energy solutions and waste reduction.
• Engage in sustainable procurement by selecting responsible suppliers.

2. Accessing Funding and Financial Incentives

One of the biggest challenges highlighted in the report is the increasing pressure on funding. The green transition requires over €620 billion annually in investments, with most coming from private funding. However, SMEs often struggle to access these financial opportunities.

What SMEs Can Do:

• Explore EU sustainability grants and green financing options.
• Develop an ESG-aligned business strategy to attract investors.
• Leverage incentives for energy-efficient upgrades.

3. Addressing the Green and Digital Skills Gap

A sustainable future depends on a workforce equipped with the right skills. The Strategic Foresight Report stresses that a lack of sustainability and digital skills could hinder SMEs’ ability to transition effectively.

What SMEs Can Do:

• Invest in ESG and digital and green skills training for employees.
• Partner with educational institutions or other relevant stakeholders to develop relevant skills.
• Encourage lifelong learning and upskilling in sustainability practices.

4. Strengthening Social Cohesion and Employee Wellbeing

The report warns that social inequalities and cracks in cohesion could undermine economic stability. SMEs that prioritize social impact and employee wellbeing will be better positioned for long-term success.

What SMEs Can Do:

• Implement diversity and inclusion policies.
• Enhance employee wellbeing through flexible work arrangements and mental health support.
• Engage in community-driven CSR initiatives.

5. Embedding ESG in Business Strategy

A major takeaway from the report is the need for systemic ESG integration. It’s no longer enough for ESG to be a side initiative—companies that embed sustainability into their core business strategy will have a competitive edge.

What SMEs Can Do:

• Develop a clear ESG roadmap with measurable targets.
• Align ESG efforts with EU sustainability regulations and frameworks.
• Communicate ESG progress transparently to stakeholders.

How SMEs Stand to Gain

By adopting ESG principles, Maltese SMEs can:

• Increase market competitiveness by aligning with EU sustainability requirements.
• Reduce costs through energy efficiency and waste reduction.
• Enhance brand reputation by demonstrating commitment to social responsibility.
• Attract and retain talent by fostering a purpose-driven workplace.
• Gain easier access to funding through green finance opportunities.

Help Us Understand the Needs of SMEs

To ensure that ESG support for SMEs is effective, we are conducting a survey to assess the current level of ESG awareness and implementation in Malta. The survey will also identify the types of support SMEs need to navigate the sustainability transition.

Click here to take the survey

Your insights will help shape targeted ESG resources, training, and policy recommendations that benefit Maltese SMEs.

Conclusion

The Strategic Foresight Report reinforces the urgency for businesses to integrate sustainability into their operations. ESG is not just a regulatory requirement—it’s a strategic advantage that can drive long-term growth and resilience. By taking proactive steps now, Maltese SMEs can thrive in the evolving economic landscape.

For more insights on how your business can benefit from ESG, contact us at . Let’s work together to build a more sustainable and prosperous future.