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.
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.
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.
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.
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.
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.
By adopting ESG principles, Maltese SMEs can:
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.
As Malta looks to refine its tourism strategy, the concept of ‘quality tourism’ is increasingly at the forefront of discussions.
However, according to Philip Fenech, Deputy President & Head of Tourism Sector at the Malta Chamber of SMEs, there is a fundamental misunderstanding of what quality tourism entails.
Mr Fenech argues that before discussing its impact, it is crucial to define what ‘quality tourism’ truly means. “There is a total misconception of the phrase,” he asserts. While some equate it with higher spending per capita or attracting a cultured demographic interested in history rather than nightlife, others believe it necessitates transforming all tourism-related businesses into deluxe or branded operations. However, Mr Fenech subscribes to the idea that quality tourism should be about maintaining a high standard across the board.
“We need a good varied mix of all types,” he explains. “Our product marketing mix – ranging from humble retail outlets to brand boutiques, from takeaways to Michelin-starred restaurants, and from Airbnbs to five-star hotels – should be of a high standard and efficient in their operations.”
Impact on SMEs
Malta’s tourism sector heavily relies on SMEs, which make up a substantial portion of the industry. Mr Fenech notes that as competition intensifies, businesses that fail to modernise or enhance their offerings will struggle. “The market will correct itself as is happening, and the stable sustainable businesses will survive as they always have,” he says.
He emphasises that Malta has reached a stage where it can afford to be “picky and choosy” about the types of tourists it attracts, shifting focus towards a higher value chain. This shift does not necessarily threaten SMEs, provided they align themselves with the evolving standards. “Small is beautiful, and the personalised owner-managed service in these particular businesses is priceless,” he states, contrasting the charm of smaller businesses with the efficiency of larger corporate establishments.
Infrastructure and support services
One of the challenges in achieving quality tourism is ensuring that Malta’s infrastructure can support it. According to Mr Fenech, the country is currently undergoing a major upgrade in public services. “Our economy grew very fast in a short time, and it is fair to say that we are suffering from ‘growing pains,’” he acknowledges.
He highlights ongoing improvements across various sectors, including electricity, drainage, traffic management, road networks, transport, and environmental greening. These developments, he notes, must continue to match the rapid growth of private sector investment. “Standards in all aspects need to carry on improving as we attract a higher value chain tourist.”
A key component of this transition is Malta’s air connectivity. Mr Fenech notes that while low-cost airlines have contributed significantly to the country’s tourism numbers, the focus should now be on securing more legacy airlines that can connect Malta with long-haul markets, bringing in higher-spending tourists that Malta has already secured, thanks to new routes launched by Aer Lingus and LOT Polish Airlines, amongst others. “We can be reasonably picky and choosy, by linking to destinations that bring in a higher-spend tourist,” he says. However, he cautions that this transition must be gradual, occurring in tandem with infrastructure enhancements and business efficiency improvements.
The role of events like carnival
Malta’s tourism strategy also involves leveraging cultural events to attract foreign visitors. Mr Fenech sees potential in expanding niche tourism segments that offer higher-added value. “Carnival is only one niche that has potential for further growth,” he states. However, he emphasises that it is just one of many.
“Our tourism has changed and is/has been continually changing from the traditional of yesteryear,” he explains. The challenge now lies in nurturing high-value niches while curtailing those that have grown too large with lower returns.
As Malta navigates these transitions, SMEs remain an essential part of the equation. Their survival, as Mr Fenech highlights, hinges on their ability to evolve alongside the shifting landscape, ensuring they align with the growing demand for quality experiences.
The Malta Chamber of SMEs is proud to be a partner in tarmix.gov.mt, a new digital platform launched to reduce food waste across Malta. Spearheaded by the Malta Food Agency, this initiative connects businesses with surplus food to voluntary organisations that support those in need, creating a streamlined and impactful way to combat food insecurity.
Through this scheme, participating businesses not only contribute to a more sustainable food system but can also benefit from tax deductions, provided they submit valid proof of their food donations.
The SME Chamber, represented by Fabian Demicoli, joined other key partners in signing the official partnership agreement during a ceremony attended by Prime Minister Robert Abela and other dignitaries.
This collaboration reflects the Chamber’s ongoing commitment to sustainability, social responsibility, and supporting innovative solutions that benefit both businesses and the wider community.
Earlier today Malta Chamber of SMEs COO Mr Andrew Aquilina participated as a panellist during a high level conference, the European Employment and Social Rights Forum organised by the European Commission in Brussels.
The conference was also address by LinkedIn CEO Ryan Roslansky and Former Finnish Prime Minister Sanna Marin.
The Malta Chamber of SMEs organised another successful information session for its members in collaboration with the Occupation Health & Safety Authority | OHSA MALTA.
Over 300 participants registered for this session
The Malta Business Registry issued a notice to inform all relevant parties that as of 1st of March, all company incorporations , dissolutions documents – (Companies regulated by the Companies Act, 1995 – (Form B (1) – Notice of dissolution and voluntary winding up, Form B (2) – Declaration of Solvency together with a statement of assets and liabilities, Form L – Notice of appointment of liquidator), Form L (3) – Notice of Resignation of Liquidator, Form L (4) – Liquidator’s Statement with respect to pending winding up, and the accounts, scheme of distribution and auditors report, and the liquidators return), (Companies regulated by the Merchant Shipping Regulations – Form S – Notice of dissolution, Form P – Notice of appointment of liquidator, Form T – Notice of resignation of liquidator, Statement of Liquidator with respect to pending winding up (Reg. 131 (1), Accounts scheme of distribution and auditors report, Form Q – Notice of completion of liquidation, Liquidators Return), must be submitted through the MBR’s online system, BAROS (Business Automation Registry Online System). This transition highlights MBR’s persistent dedication to evolving into a fully paperless agency, building on earlier efforts. The initiative is designed to enhance processing efficiency while fostering a more sustainable and eco-friendly approach.
Dr. Geraldine Spiteri Lucas, CEO and Registrar of MBR, emphasized that the success of BAROS has underscored the industry’s need for continued digital transformation to benefit practitioners, clients, and the sector. Such step follows extensive discussions with stakeholders and practitioners who played a crucial part in the transition process.
“The ability to incorporate companies online has been eagerly awaited by the industry. With the proper submission of required documents (including due diligence documents) and being fully compliant with legal requirements, companies can be incorporated within 24 hours. Something that many practitioners adapted to, it strengthened Malta’s competitiveness and now it is the apt time to enforce such measure. Similarly, online company dissolutions will not only shorten waiting times but also improve monitoring processes. These initiatives are set to streamline processes, eliminate unnecessary bureaucratic hurdles, and compliment other projects headed by the MBR to ultimately offer holistic services” explained Dr Geraldine Spiteri Lucas.
Detailed instructions and support resources can be found on the following link.
In addition to this, the MBR will also deliver a training session in mid-January. Registration for this training session can be done here.
Between the 24 and 26th of February a delegation from the Malta Chamber of SMEs visited Tunisia to build stronger business ties and explore new opportunities.
Over three days, the SME Chamber delegation met with key officials, including Trade Minister Samir Abid and CEPEX CEO Mourad Ben Hassine, to discuss ways to boost trade and investment between the two countries.
They also connected with the Foreign Investment Promotion Agency (FIPA) to learn more about Tunisia’s business climate and investment incentives.
The visit was packed with B2B and B2G meetings, allowing Maltese and Tunisian businesses to exchange ideas and explore potential partnerships. In Sousse, the delegation visited Novation City, where they discussed innovation and industry trends, followed by structured networking sessions at CCI Sousse.
The delegation was composed of Mr Paul Abela, Mr Philip Fenech, Mr Joe Zerafa, Ms Joan Haber, Mr Dino Fino, Mr Karmenu Zamit, Mr Mario Debono, Mr Sergio Camilleri, Mr Beppe Muscat, Mr Joe Attard and Mr Jamie Tanti.
They also met Mr.Ben Anaya Huile, where they got a firsthand look at Tunisia’s olive oil production and export potential, reinforcing the many ways businesses from both nations can collaborate.
The SME Chamber would like to thank particularly H.E. Joseph Mario Sammut for his assistance throughout the visit.
The Malta Food Agency will soon be launching a platform aimed at reducing food waste while supporting communities and consumers. This initiative focuses on food products nearing their expiry dates by promoting establishments that significantly reduce their prices for consumers’ benefit. Additionally, businesses will have the option to upload details of food products approaching their expiry dates onto a new digital platform, where they can be donated to registered voluntary organisations.
The official launch is scheduled for the 10th of March, and interested businesses, particularly food retailers, are encouraged to participate.
If you are interested in attending kindly send an email on by not later than the 3rd of March 2025.
