Malta Chamber of SMEs council members meet Prime Minister Robert Abela
14 January 2022
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SMEs have moved from high uncertainty to downright pessimism as the economic
outlook has worsened towards a full-fledged recession, according to a survey
conducted by UEAPME, the European craft and SME employers' organisation, and
terms of economic indicators, the balances between positive and negative
answers are particularly worrying for the expectations on turnover (-10.8) and
orders (-15.3), explained UEAPME representative Gerhard Huemer. Prices also
turned negative, as SMEs were forced to lower them in order to stay on the
market. Some timid improvements are
foreseen for the second half of the year for the overall situation, turnover
and orders, but no positive developments are to be expected for employment and
overall situation worsened for all size classes in the first half of 2012.
Small and medium-sized companies showed similar results, hovering around minus
7 points, but it is definitely micro enterprises employing fewer than 10
persons that are suffering the most at -10.5. The results for all the three
categories are even lower than the already negative expectations collected
during the second semester of 2011. A glimmer of hope can be seen in the
expectations of medium-sized companies, which foresee improvements in all indicators
for the second half of 2012, particularly for orders. "Larger SMEs are usually
faster movers in both directions, and these expectations can be the first signs
of a recovery", said Mr Huemer.
as far as business sectors are concerned, construction, business services and
personal services recorded double-digit negative figures for turnover, while
after four semesters of positive results manufacturing also showed the first
downturn and a slightly negative performance (-2.2). "This is a textbook
example of a decrease in the aggregate internal demand", commented Mr Huemer.
"As European SMEs rely mostly on the EU markets, the recession will not be
overcome without a quick re-establishment of a new climate of confidence for
private households and private businesses."
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).