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Author: SME Chamber

SME Chamber and Malta Enterprise organises a Webinar on grants for cost saving investments

Posted on by SME Chamber

Malta Enterprise offers 3 schemes related to sustainability

The Malta Chamber of SMEs and Malta Enterprise organised a webinar about the available grants for cost saving investments.Malta Enterprise CEO Mr Kurt Farrugia welcomed all participants during his opening speech, while Ms Nadia Grech, Head, SME Regeneration and Sustainability at Malta Enterprise explained further about the following schemes:

-Change to Grow

-Smart and Sustainable Investment Grant,

-Investment Aid for Energy Efficiency Projects

Although all schemes qualify for cost saving investments, the assistance covered varies. The Change to Grow Grant covers up to Euro 10,000 which is split between advisory and implementation. Businesses requiring a large investment, can opt for the Smart and Sustainable Investment Grant which covers up to Euro 50,000 grant with an additional Euro 20,000 in tax credits if the projects meets certain criteria. One may opt to benefit from the advisory services covered under the change to grow and the grant under the smart and sustainable grant scheme for the implementation phase.

Finally larger investments requiring more resources such as the Investment in substitution or upgrading of equipment and installations to reduce energy consumption or the Renovation or upgrading of equipment of existing installation for heating (or cooling) systems can fall under the Investment Aid for Energy Efficient Projects which covers grants up to 15 million and covering up to 50% of the investment cost.

During the Webinar, members where provided with case studies, in order to understand better how the above schemes can be successfully applied, thus ensuring more cost saving initiatives for the benefit of their business.

Masterclass on Financial Capability and Financial Services

Posted on by SME Chamber

The Malta Chamber of SMEs in collaboration with GEMMA, will be organising a second masterclass for businesses’ specifically dedicated on Financial literacy and Financial Capability. 

 

The event will be held on Tuesday 23rd February 2022 at 14:00 – 16:00. 
The modules covered during this session are:
  • Financial Capability – Delivered by HSBC
  • Financial Services – Delivered by Deloitte

 

The session is Free of Charge. An electronic certificate of a attendance can be provided upon request.
 
For further information you are kindly requested to get in touch by sending an email to  or call on 21232881.

New amendments to the Companies Act

Posted on by SME Chamber

Recently, MBR published a notice on the changes coming into force through amendments to the company Act.

The Registrar of Companies are reminding business owners that some of the Amendments to the Companies Act (Act LX of 2021) are in force, primarily the provisions related to the use of digital tools and processes as well as the appointment and the holding of the office of directors. 

More specifically, the following have been highlighted:

  • Contents of the memorandum and articles of the Company (Article 69)

  • Appointment of Directors (Article 139)

  • Statutory company directorship reporting requirements (Form K & Form K(1)

  • Disqualification of Directors (Articles 140 & 142); and

  • Legislative Powers of the Registrar (Article 401)

Further detailed information can be obtained from the notice issued by the Malta Business Registry at https://mbr.mt/2022/01/28/legislative-amendments-introduced-by-act-lx-of-2021/ and in the case of difficulty you can contact MBR’s Legal and Enforcement Unit on .

Malta Chamber of SMEs meets Identity Malta’s new CEO Mr Mark Mallia

Posted on by SME Chamber

The SME Chamber looks forward to see the cooperation between both sides increase

Malta Chamber of SMEs CEO Ms Abigail Agius Mamo and Head of Policy Mr Andrew Aquilina met Identity Malta Agency new CEO Mr Mark Mallia.

The SME Chamber congratulated Mr Mallia for his new role and discussed further cooperation between both entities.

Ms Agius Mamo said that the SME Chamber looks forward to see the cooperation between both sides increase in the interest of all stakeholders involved and to have a healthy employment market.

The Malta Chamber of SMEs has a long-standing working relationship with Identity Malta. With the joining of the new CEO, the Chamber of SMEs looks forward to continue building this relationship and to enhancing the service offered.

The SME Chamber believes that whilst recruiting TCNs has become a necessity, it is still an extremely lengthy and costly experience for everyone. It is therefore in everyone’s interest to improve on this experience.

The SME Chamber and Identity Malta will be maintaining an open channel of dialogue in order to address issues that arise and to simplify the process wholistically and making Malta’s dependence on TCNs more sustainable for the country as a whole.

ANNUAL SURVEY: Businesses report improvement in 2021, positive outlook for 2022; SME Chamber presents 5 proposals to mitigate inflation

Posted on by SME Chamber

SME CHAMBER PROPOSES TO REDUCE THE VAT RATE FROM 18% TO 15.5%

A study conducted by the Malta Chamber of SMEs among 250 business owners  shows that 44% of SMEs in Malta expected their business to fare better this year.

The survey was carried out between the 10th and 27th of January amongst business owners. 17% replied that 2022 will be worse than 2021 while 39% replied that 2022 will be the same as 2021.

The press conference was addressed by SME Chamber Vice-President Mr Marcel Mizzi, Deputy President Mr Philip Fenech and CEO Ms Abigail Agius Mamo.

 According to the Business performance survey, businesses reported a better 2021 over 2020 but it was nowhere close to 2019, before the COVID-19 pandemic hit.

Asked about their biggest concerns for the year, businesses said they were seriously concerned about the increases in costs, the prolonged uncertainty due to the COVID-19 pandemic as well as the uncertainty created by the impending general election.

In terms of financial constraints, businesses biggest concerns were sales levels, cash flow, problems with collecting payments, employee wages, banking issues and repaying deferred taxes.

Several businesses reported that they have suffered a difficulty in performance due to quarantine rules, as 13% reported that 30% or more of their employees were out at one go due to quarantine.

38% of the respondents remained neutral on whether they were satisfied with the overall business sales in the first few weeks of 2022. 20% and 15% responded being dissatisfied and very dissatisfied respectively. Despite this, an overwhelming 44% of the respondents believe that 2022 will have better results than 2021, factoring in better control of the pandemic and increased consumer confidence. 

Click here to download full survey results

During the same press conference, the Malta Chamber of SMEs has presented 5 key proposals that will address the biggest challenges facing our economy and businesses during 2022:

  • Eliminate Excise Tax on Consumer goods such as Water, Non-Alcoholic Beverages and Toiletries. Eliminating this invisible tax imposed by our policy makers would leave Eur 5 Million in the pockets of local consumers during 2022, according to government budget estimates.

  • Reduce the VAT rate from 18% to 15.5%. While safeguarding Government’s income, this measure would ensure that the Government would not be gaining out of the calculation of the VAT percentage on the inflationary increases. This leaves the difference in VAT in the pockets of consumers and businesses.

  • Reduce quarantine leave, in accordance to the recommendation by the CDC, to 5 days for positive cases only. This would be followed by 5 days of mask wearing.

  • Facilitate the employment of TCNs from countries that have a positive track record in terms of visa acceptance. The engagement of TCNs should be centrally administered by the government and fast tracked.

  • Malta to lobby in favour of harmonised travel rulesin order to increase the level of confidence in travelling for private and corporate clients.

SME Chamber organises its first webinar on sustainable practices for your business

Posted on by SME Chamber

This was the first session out of a series of 6

The Malta Chamber of SMEs and HSBC Malta Foundation organised a webinar entitled Sustainability for Small Businesses delivered by Dr Roberta Lepre from WEAVE CONSULTING.

This webinar highlighted the opportunities for SMEs pertaining to sustainability with a particular focus on climate change.

This was the first session out of a series of 6 which we will be organising throughout 2022.

Should you wish to join our next session please contact us on ">.

Consultation: St Paul’s Bay to undergo regeneration

Posted on by SME Chamber

You are kindly requested to submit and feedback by not later than Monday 14th February

The Malta Chamber of SMEs has recently held meeting with the Tourism Zones Regeneration Agency tasked with implementing the regeneration plan in the Ares of  Saint Paul’s Bay, Bugibba and Qawra.

A specific regeneration committee has been set up to discuss and push forward proposals that would improve the area. Additionally Malta Chamber of SMEs is also being requested to propose actions directly concerning the commercial community and which would ultimately benefit and improve this area.

In this regard, we would like to ask members to raise any particular issues that need to be addressed and also propose actions to improve the current state of play in the area.

Based on the feedback received, the Malta Chamber of SMEs will be compiled and passed on and submitted accordingly.

You are kindly requested to submit and feedback by not later than Monday 14th February.

Feedback is to be sent to Andrew Aquilina on "> or by phone on 21232881.

Business Opportunities from Israel this month

Posted on by SME Chamber

GET IN TOUCH FOR MORE INFORMATION!

View of Tel Aviv beach in summer time with Israel Flag

As part of our efforts to promote business matchmaking for Israeli companies, The Federation of the Israeli Chambers of Commerce (FICC) announced several business offers from companies and its members.

All companies within the list of business offers are looking for new business partners, distributors, representation or suppliers.

Companies interested to get more information related to these business offers and full list of business offers, please contact Fabian Demicoli by email on 

Click here for the full list of business offers.

Companies who find these offers relevant to them may contact FICC directly and approach Ms. Yonat Keren: ">

Malta Chamber of SMEs
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