Author: SME Chamber

Awards final gala night will take place on Friday 28th October

The Malta Chamber of SMEs in collaboration with Malta Enterprise, announced the first edition of the Malta Business Awards, which will take place on the 28^th of October at the Mediterranean Conference Centre in Valletta.

The awards will be divided into four categories. These are: the social impact of enterprises, green initiatives, Best in Business and innovation, and digitalisation.

Over 20 awards will be given to enterprises from various sectors including tourism, whilst also incorporating different elements such as start-ups, female entrepreneurship, apprenticeship, and solutions targeted at climate change as well as sustainable processes.

Minister for the Environment, Energy and Enterprise Miriam Dalli stated that “This moment should serve as inspiration for enterprises to be more sustainable, digital, catering for their client’s needs, offering good quality products whilst also ensuring competitiveness. The Business Awards serve as a means to learn from each other’s success stories, as well as for enterprises themselves to define the next steps to improve their processes.”

Kurt Farrugia, the CEO of Malta Enterprise stated that “We hope that the winners of the awards would serve as role models for other enterprises, inspiring them to improve their processes. Malta Enterprise actively assists enterprises through a variety of schemes aiming to improve the standards and the quality of services offered. Some of these schemes are the Smart & Sustainable Investment Grant, Invest, Research & Development and Innovate.”

Malta Chamber of SMEs President Paul Abela stated that it is an honour that the Chamber for Small and Medium Enterprises, with a legacy of over 70 years, organised these prestigious awards together with Malta Enterprise as well as with the help of other entities. He stated that these awards have created a platform for recognition which will inspire others through the good initiatives being taken by local businesses. Mr Abela encouraged businesses to participate in these awards which aim to support these local businesses.

CEO of the Malta Chamber of SMEs Abigail Agius Mamo stated that the Malta Business Awards will be honouring businesses in diverse categories. The gala night in which the winners will be announced will take place on the 28^th of October at the Mediterranean Conference Centre.

More information on www.maltabusinessawards.mt.

The European Commission proposed new restrictions on who can use and access EU data across all economic sectors on February 23, 2022. The Data Act would promote digital fairness, a competitive data market, data-driven innovation, and data accessibility. It will lead to new, creative services and cheaper repairs for linked products.

The proposal for the Data Act includes:

• Measures to rebalance negotiation power for SMEs by preventing abuse of contractual imbalances in data sharing contracts. The Data Act will shield them from unfair contractual terms imposed by a party with a significantly stronger bargaining position. The Commission will also develop model contractual terms in order to help such companies to draft and negotiate fair data-sharing contracts.

• New rules allowing customers to effectively switch between different cloud data-processing services providers and putting in place safeguards against unlawful data transfer.

Consumers and businesses will be able to access device data for value-added services like predictive maintenance. By having more information, consumers and users  may make smarter decisions like choosing higher-quality or more sustainable products and services, helping to Green Deal goals.

A competitive data market will provide businesses and industries more data. Aftermarket service providers will be able to offer more personalised services and compete with manufacturers. Data may also be used to create new digital services.

For more information click here.

The European Commission is inviting contributions to an open consultation on an Action Plan for better management of nutrients for a sustainable approach.

This Action Plan’s suggested extra EU-level action is required to enhance food security, safeguard public health, and maintain the ecosystem.

The Action Plan, announced in the EU Biodiversity Strategy and Farm to Fork Strategy, will help achieve the European Green Deal‘s 2030 target of reducing nutrient losses by 50%, while ensuring no deterioration in soil fertility. The objective of the two Strategies is to reduce fertiliser use by at least 20%, while enhancing the resilience of the food systems.

The submission deadline is August 26, 2022. For more information on the consultation please refer to the Servizzi Ewropej F’Malta website. Alternatively, you can go directly to the Commission online consultation webpage.

As communicated through a Notice published on 28 January 2022 – Act LX of 2021  introduces the requirement for companies to indicate their electronic mail address in the memorandum, in terms of article 69(1)(d) of the Companies Act.

The scope behind this amendment is two-fold. Firstly, electronic communication serves to increase efficiency through timely communication by reducing the reliance on paper format communication to a company’s registered office. Certain correspondence may well be served to a company electronically and is many times more effective in reaching the concerned company officers.

Secondly, the Malta Business Registry continuously strives as a central national registry and supervisory authority, toward implementing sustainable governance measures that correspond to corporate sustainability goals reflecting national and European Union initiatives in the sector. Limiting the amount of physical paper-format correspondence and shifting the emphasis to electronic means, will undoubtedly serve to reduce the use of paper and associated materials. Such measure is only one of those which will be undertaken as part of the responsibility in implementing measures synced with the European Green Deal.

Companies are hereby being notified that an adequate electronic mail address that is accessible to all the company officers, is to be provided to the Malta Business Registry by 30 September 2022.

It is advisable that this is done by filing an updated memorandum and articles of association. In instances whereby this is not possible, one may address a formal letter to the Registrar, sent to the attention of Ms Stefania Baldacchino.

Following the announcement of new EU grants for businesses as part of the EU Recovery and Resilience Funds, the SME Chamber organised a webinar for its members with the participation of Parliamentary Secretary for EU Funds Dr Chris Bonett.

The webinar focused on the 2 latest funding opportunities digitalisation and energy efficient schemes. A total of €35 million of these funds will be used for digitalisation-related projects; with €5 million for SMEs and €10 million for projects tied to the tourism and cultural sectors. Whilst €20 million will be used for schemes promoting more energy efficiency in buildings.

Parliamentary Secretary Hon. Chris Bonett, accompanied by the Director General at the Measures and Support Division Mr Claude Sammut and Mr Chris Magri, explained the schemes to almost 200 participants while they also replied to various questions made by members.

The webinar recording is available upon request for all paid-up members.

Should you need any further information kindly email Mr Fabian Demicoli on