Author: SME Chamber

English Version

‘Ques for 10 hours, waiting for the shop to open’

adds comments from GRTU CEO Ms Abigail Mamo

“Black Friday starts with a Bang!”

“We are receiving positive feedback from all over Malta and Gozo. People started queuing very early with one individual queuing since 11:00PM yesterday evening.

“Although customers are numerous with some shops experiences ques, businesses have redeployed employees from the office to assist customers and this is easing flow.”

“Although it is too early to compare this Black Friday with last years’, it is already very evident that there is a positive trend” 

 

Maltese Version

“Jagħmel 10 sigħat jistenna l-ħanut jiftaħ”

Kummenti ta’ CEO tal GRTU Abigail Mamo

“Black Friday tibda b’suċċess kif mistenni.”

“Qed ikollna feedback pożittiv ħafna mill-inħawi kollha f’Malta u Għawdex. In-nies bdew jistennew minn kmieni. L-iżjed persuna kmieni kienet wara l-ħanut fil-11:00 tal-bieraħ filgħaxija.”

“Għalkemm uħud mill-ħwienet fihom il-kjus xorta l-flow tan-nies miexi u mhux qed ikollhom jistennew ħinijiet twal. Dan għaliex ħafna ħaddiema li s-soltu jaħdmu fl-uffiċċini ta’ dawn in-negozji, illum qegħdin fil-ħwienet biex jaqdu l-klijenti.”

“Għalkemm għadu kmieni biex tikkompara mas-sena l-oħra, jidher biċ-ċar li t-trend ta’ Black Friday sa issa hija pożittiva.”

Updates jaslulkom kif jaslulna.

Verżjoni bil-Malti

Nhar il-Ġimgħa, Black Friday, uħud mill-ħwienet se jiftħu mis-6 ta’ filgħodu. Mal-awtoritajiet qed nipprovaw innaqqsu l-problema tat-traffiku.” 

“Nhar il-Ġimgħa, Black Friday, se tkun kullimkien. Ċerti ħwienet se jiftħu minn meta jisbaħ u oħrajn se jestendu l-ħin tal-għeluq tagħhom saħansitra sa nofsillejl biex jilqgħu l-klijenti għall-offerti. Mill-informazzjoni li għandna mill-membri tagħna, il-konsumatur nhar il-Ġimgħa se jkollu festa ta’ xiri bi prezzijiet eċċellenti,” tgħid is-CEO tal-GRTU, Abigail Mamo.

Din il-ġurnata toffri sfidi fosthom it-trasport. Għadaqstant il-GRTU sejħet laqgħa flimkien ma’ uffiċjali ta’ Transport Malta, il-Pulizija, kif ukoll rappreżentanti taċ-ċentri ta’ xiri ewlenin sabiex speċifikament niddiskutu t-traffiku u t-trasport dakinhar ta’ Black Friday. 

Hemm qbil fejn il-Pulizija u Transport Malta se jkunu qed imexxu l-massimu ta’ riżorsi possibbli f’areas identifikati bħala l-iktar importanti u potenzjalment problematiċi għal din il-ġurnata biex it-traffiku jibqa’ miexi u jinħelsu l-bottlenecks. Il-GRTU għamlet ukoll kuntatt ma’ diversi kunsilli lokali ewlenin u appellajnielhom biex jiġu evitati inkonvenjenti u permessi li mhux ta’ urġenza estrema f’din il-ġurnata partikolari għal pajjiżna.

Għal dan il-għan: 

1. Se jkun hemm pulizija u persuni minn Transport Malta li se jkunu qed jidderieġu t-traffiku f’ħafna postijiet differenti
2. Ktibna u tkellimna mal-kunsilli lokali kollha biex għal nhar il-Ġimgħa ma jaċċettawx permessi, jekk mhux urġenti, li joħolqu inkonvenjenti fit-toroq
3. Il-car parks privati se ikunu qegħdin iżidu l-impenn organizzattiv biex jakkomodaw aktar klijenti
4. Min-naħa tas-settur privat ikkomunikajna mill-membri biex kemm jista’ jkun jiġi illimitat tqassim ta’ xogħol nhar il-Ġimgħa
5. Qed inħeġġu lill-pubbliku juża t-trasport pubbliku li jinkludi trasport bil-baħar għall-Belt, Ta’ Sliema u l-areatal-Cottonera
6. Il-Belt barra l-MCP Car Park ser ikun hemm parking addizjonali allokat ukoll gewwa l-WaterFront fejn imbad il-pubbliku jista’ juza l-lift li iwassalhom direttament fil-Barrakka ta’ fuq

“Nhar il-Ġimgħa l-GRTU se tkun qed tħares lejn l-andament tal-ġurnata u tgħaddilive updates matul il-ġurnata kollha permezz ta’ informazzjoni li se tkun ġejja miċ-ċentri kummerċjali u negozji individwali. Mezzi tax-xandir li huma interessati li jirċievu dawn l-updates għandhom jgħaddu l-isem,mobile u imejl tal-persuna inkarigata fuq .

 “Aktar tard il-GRTU se tippubblika stħarriġ xjentifiku dwar x’fissret għan-negozju nhar il-Ġimgħa, il-Black Friday. “ 

“Aħna nemmnu li l-GRTU hija għodda eċċellenti li fiha r-relazzjoni bejn il-konsumatur u n-negozjant se tkompli titjieb.”

“Nhar il-Ġimgħa l-konsumaturi se jkollhom opportunitajiet li ma jistgħux jitilfu. Kważi kummkien. B’ħafna iżjed ħwienet u b’ħafna iżjed offerti mis-sena l-oħra,” ittemm tgħid Abigail Mamo. 

English Version

“This Friday, Black Friday, some shops will be opening as early as 06:00 AM. GRTU in efforts to ease the traffic flows on the day”

“Black Friday is a phenomenon happening across all of Malta. In preparation, many retail ourself have already advised that they will be extending their opening hours, with some starting from six and others closing after midnight. Our members inform us that this year Black Friday will bring a shopping feast for consumers with the exceptional discounts available.” Notes GRTU CEO Ms. Abigail Mamo.

This day also offers challenges particularly regarding transport. For this reason, GRTU, accompanied by representatives’ of popular retail centers, met with Transport Malta and the Police Traffic Division specifically to discuss measures to ease traffic flow during Black Friday.

GRTU positively notes that both Transport Malta and the Police will be deploying all possible resources to identified problem areas and bottlenecks. GRTU has also communicated and appealed with local councils to limit inconveniences on the day to only that which is urgent.

Towards this aim;

1. Road Traffic Police and Transport Malta official will be located at different bottlenecks.
2. GRTU wrote to all local councils to refuse and permits not considered as urgent and that could cause inconvenience in the roads. 
3. Private carparks will be taking measures to increase efficiency.
4. The private sector is being encouraged to limit deliveries during this day.
5. The general public is being encouraged to make use of alternative transport, including public transport and ferry service available to the Valletta, Sliema and Cottonera areas.
6. In Valletta, apart from MCP car park there will also be a large allocated parking at the Water Front, from where the public can use the lift that takes them up to the Barrakka.

‘This Friday GRTU will be closely monitoring the going of sales during the day and will be sending live updates from centers, retails shops and outlets. Members of the media interested to receive these updates are required to send an email to listing their contact details including name, phone and contact number.’

Subsequently, GRTU will be publishing results of its usual study of how business has fared during Black Friday.

Abigail Mamo concluded that “We believe that GRTU is an instrument that will help the continued improvement of the consumer-business relations. This year Maltese consumers have offers they cannot miss and these will be available across sectors and all over Malta. We expect many more businesses participating and offers that are greater than ever.”

 

Two weeks after the accounts at Sata Bank has been frozen no real timeline has been released. Simple steps to take care of the worries of the investors we have worked so hard to attract such as a customer care system is still completely lacking. Businesses are being given close to no information outside the bank’s doorstep and business closures are knocking on our doors. Responsibility must be taken for the additional damage that is being created.

The fact that the Bank had to be closed and immediate action had to be taken is not being put into question. The regulators are the only ones aware of what the extent of the problems are and how best to deal with them, within the powers conferred to them.

The situation is however very grave. Apart from the fact that this is hitting Malta’s reputation very hard and many businesses that have come to invest in Malta have told GRTU that they will not look at Malta ever again, there is a level of unfairness where the good has been castigated with the bad.

 

 

 

There are genuine businesses that were banking with Sata Bank because their technology was superior and because other banks were too traditional and slow to accept their innovative investments. It was after all a bank licensed by the Maltese Government. These businesses have had their funds frozen, they are unable to pay their employees’ wages, their rents, fiscal contributions, and send or receive any money. Hundreds of businesses are unable to trade. The level of pressure and stress these people are suffering is uncalled for.

We expect the regulator, the Minister for Finance and the bank administrators to act with respect and responsibility because for no reason should people be treated like this and business allowed to close. Everyone is shifting responsibility and hiding behind the powers conferred by law but they themselves are making matters worse. Immediate actions are required to issue procedures of handling these people and their funds.

Who has to pay will pay but who doesn’t should not be treated as collateral damage.

Through the link you can access footage from the last meeting GRTU held yesterday on the subject.

https://wetransfer.com/downloads/72223baa3fadad3939098e046837617820181108180910/fcaa3d27aebbd298e268c14c8bfc943620181108180910/3fa3af

The GRTU is following closely the Satabank issue. Satabank has many clients in Malta who had opened accounts with Satabank and used also its EPOS services. These clients are now facing grave financial and cashflow difficulties.

The issue experienced in the recent past with vast numbers of workers finding difficulties setting up a bank account through the major banks in Malta caused a shift to E-money accounts in Satabank and elsewhere. These, many Maltese businesses and workers, who have Satabank accounts, are now in a state of desperation. The information on what is about to happen is very scarce, with calls to Satabank being diverted to a call centre in Bulgaria.

 

 

 

 

 

 

Besides being alarmed due to the plight of its members, GRTU is also concerned about the effect this is having on retail sales. The fact that Satabank users cannot use the funds in their account means that on the consumer side they are unable to receive moneys and spend and on the business side they are unable to utilise such accounts to trade and sell. The problem is being felt most prominently in the Msida, Gzira, Sliema and St Julians areas.

GRTU is asking businesses who have accounts in SATABANK to contact it urgently as a meeting is being held in order to inform members who are Satabank clients on what corrective measures can be taken to resolve individual businesses’ issues with Satabank as soon as possible. 

GRTU is actively in discussion with all relevant authorities to limit any repercussions this is having on businesses.

Over 200 enterprise owners met this morning for the 2019 edition of GRTU Malta Chambers of SME’s successful event – The SME Conference: Year in Review, co-hosted by Business First.

Opening the conference, the Honorable Minister Chris Cardona said that “SMEs are our country’s biggest generator for jobs and prosperity. Listening to our businesses’ needs and outlooks is essential for us to create meaningful change and adopt accordingly. GRTU is helping us do that. Our collaboration has undoubtedly benefited our local business and economy greatly”.

This year’s conference focused on economic growth and the results of the GRTU study on the subject were published during the event. 

GRTU President, Mr Paul Abela stated that “Our economy is doing very well and the figures are testament of this. When looking deeper however one finds that not all businesses are experiencing it in the same way. It is our duty and that of our policy makers to understand what is happening on the ground and make sure that the distribution of wealth is reaching all our economic sectors.”

Presentations :

GRTU SME Week Survey
Jobs Plus Workshop Presentation
MCA Workshop Presentation
MSD Workshop Presentation
Revolut Workshop Presentation
Claudine Attard Presentation

 

The study shows mixed results in terms of which businesses are doing well with respondents split – half saying they are doing well and the other half saying they are not feeling the benefits of the strong economy. Out of those that are doing well 30% said that their turnover increased by 5%, 47% of respondents said by 10% and 16% said that the increase went up to 20%. To the contrary, the other half of the respondents mostly quoted too much competition and increased costs, which are offsetting the benefits of increased demand.

Human resources related issues are a major concern for businesses. When asked about wage levels 85% said that they have experienced wage increases in the last 3 years, out of which 19% said that the increase was of 5% overall, 42% said up to 10% and 21% said it was up to 20%. When asked if wage increases have resulted in increased productivity 42 % ranged between the disagreed and strongly disagreed and 28% agreed with this statement. The remaining respondents were uncertain. Many have also quoted labour shortages as the main reason why their business is not working to its potential.

In relation to their opinion on the overall wealth and economic growth, most businesses have stated that they attribute the economic growth to the gaming sector and the construction sector are the main players; followed by tourism and the influx of foreign workers.

When asked about the new developments of digital currencies and finance such as  cryptocurrencies and blockchain, 42% said that they don’t know much about them, 21% said they found them confusing and another 21% said that they find them intriguing. 16% said that they are untrusting and that they think it is a scam that will soon end.

GRTU closed the conference with four workshops that focused on labour shortages and its implications; Brexit; EU funding and lessons learnt and digital progress for business. Ms Marika Gonna, CEO of Business 1st delivered the conference’s closing remarks.

Dan il-baġit se jolqot b’mod pożittiv lin-negozji żgħar u medji għal erba’ punti prinċipali:

1. Jogħlew il-pagi u l-benefiċċji, allura flus fil-but li se jiġġeneraw aktar negozju.
2. Persuna self-employed li n-negozju tagħha jfalli u tispiċċa bla xogħol issa se tkun tista’ tibda tieħu l-benefiċċji li jieħdu l-ħaddiema bla xogħol.
3. Li, kif ipproponiet il-GRTU, il-baġit żied is-sussidju biex in-negozjant iż-żgħir ikun jista’ jew tista’ jkollha pensjoni oħra u b’hekk ikollu żewġ pensjonijiet u futur aħjar.
4. Tkun estiża l-iskema li meta persuna tgħaddi n-negozji tagħha lil uliedha se tkun qed tiffranka somom konsiderevoli f’taxxa tal-boll minn 5% għal 1.5%

 

 

 

 

B’ekonomija b’saħħitha u bis-surplus, in-negozjanti iż-żgħar stennew:

1. Li titnaqqas b’mod sostanzjali t-taxxa.
2. Li t-tnaqqis fit-taxxa jkun qed jindirizza l-vantaġġ li għandhom in-negozji barranin.
3. Li tikber l-iskema tal-Microinvest li biha negozji jieħdu rifużjoni fit-taxxa fuq l-investiment li jkunu għamlu.
4. Inizjattivi biex tindirizza l-problema serja ta’ nuqqas ta’ ħaddiema.

Il-GRTU filwaqt li tinnota b’sodisfazzjoni li diversi inċentivi mis-snin imgħoddija ġew estiżi, għal din is-sena tħoss nuqqas serju ħafna f’dawk li huma ideat ġodda li jinċentivaw in-negozji ż-żgħar. Qabel il-baġit, il-GRTU għamlet diversi proposti li baqgħu ma ġewx ikkunsidrati.

Revolut, the fastest growing FinTech in Europe, which officially launched in Malta in September providing advanced and more affordable digital banking alternatives is the banking of choice for GRTU Malta Chamber of SMEs.  

Revolut will be providing GRTU members with an exclusive 3 month free subscription. It is estimated that this incentive will potentially reach close to € 1 Million in value for 7,000 companies based in Malta

GRTU believes in the principles Revolut stands by and is a welcome breath of fresh air as a digital banking alternative. GRTU has been fighting and arguing against exorbitant and hidden fees and expensive access to finance. Revolut so far have provided a very good first step and we are excited to continue working together and developing new products for the needs of our members. It is high time that Maltese businesses are charged a straightforward cost that is not percentage based and does not include exorbitant costs, hidden profits or fees.

 

GRTU President Paul Abela stated that “GRTU joins our Prime Minister Joseph Muscat in welcoming Revolut to Malta and we will endeavour the best of our efforts for it to succeed and give a much needed service to Maltese enterprises”. 60,000 companies around Europe already signed up for Revolut Business, so it’s perfect timing for Malta to join the party!

Revolut Business provides a comprehensive service by linking their product to other software that facilitates the monitoring of cash flow, automation of workflows and automated accounting amongst others, all linked to the company’s digital banking. Revolut will be holding a number of workshops with its counterparts for GRTU members during the year to come.

Companies can also enjoy free international bank transfers and fee-free currency conversion. This is particularly interesting for companies who are doing international business and need to move money fast, safe and without paying ridiculously high banking fees. Companies can also benefit by issuing corporate cards for their staff, and track the whole team’s business expenses instantly, set spend limits for each employee and easily block cards if they are lost.

Last but not least, Revolut Business offers a modern Open API that allows companies to seamlessly integrate their business bank account into their workflow. As a result, they can automate cross-border business payments, send payouts to clients or employees and monitor transactions according to business’ needs.

This is what businesses need in this digital era and this is the service that consumers expect. GRTU and Revolut are committed to make it happen.

On behalf of Revolut: Philip Maurice Mifsud – Revolut Country Ambassador.

The President, the Executive Council and the local business community mourns the loss of Mr. Joseph G. Grech who was the President of the Gozo Chamber of Commerce for a number of years. Many of GRTU’s councilors have worked closely with Mr. Grech on various fora and have always found him obliging and willing to help with enthusiasm and zest.

Mr. Grech has represented the Gozo business community on prestigious boards such as the MCESD, MEUSAC and the Enterprise Consultative Council amongst others. Members of GRTU’s Executive Council have always spoken highly of Mr. Grech and his contribution to the discussions on various subjects. Mr. Grech was an example to others in the way that he was always well prepared for every meeting.

We offer our sincere condolences to Mr. Grech’s Family.

GRTU Malta Chamber of SMEs has today been awarded the first prize with its initiative entitled Enabling the Digital Transformation of Maltese SMEs within the category of Supporting the Internationalisation of Businesses.

Within this initiative GRTU has undertaken many activities for Maltese businesses to increase their online presence and help Malta reap more from being part of the single market. Amongst the initiatives undertaken are financial incentives to help small businesses go online, publication of a guidebook, development of an online learning tool and a themed conference.

GRTU has been working hard to help Maltese businesses take the next steps when it comes to their online presence. Statistical research showed that after only a few years of EU membership, internet penetration for Maltese households was increasing drastically and Maltese consumers buying online increased from 26% in 2007 to 51% in 2010.

 

 

 

Left to right – Marthese Micallef – GRTU Council Member, Paul Baldacchino – Chief Officer, Business 1st Ltd, Abigail Mamo – CEO, GRTU

Unfortunately most of the money of Maltese consumers was being spent abroad without Malta attracting anywhere close to the same numbers.

A challenge that is still on the horizon, and that GRTU will be tackling, is the high delivery costs of online purchases. This unfortunately is much more expensive when compared to the majority of other EU countries. Unless this issue is mitigated Malta’s eCommerce success will remain at bay when trying to compete with much larger countries that benefit from economies of scale and other non-EU countries where the government is free to subsidize delivery costs to attract online shoppers.

GRTU’s initiative is now also being nominated to compete in the European Enterprise Support Award that will be held in Austria later on this year.

GRTU’s joint initiative with government – Business 1^st Ltd – also won first in its category of Improving the Business Environment.