MDB issues new scheme with revised collateral requirement after the Malta Chamber of SMEs highlights difficulties
23 September 2020
Following problems flagged by members on accessing the MDB loan scheme, the Malta Chamber of...
Following a request made by our representatives in Brussels, EuroCommerce, in order to be able to represent the views of our members in their negotiations on the topic, GRTU has conducted a survey and below are the results:
84% of respondents said that they have an internet site and half of these said that they accept orders and take payment through the internet site. Most admit that only a small percentage of their sales are made online:
0-5% – 73% of respondents
10-50% – 15% of respondents
50-75% – 8% of respondents
75% – 4% of respondents
A good majority of those who accept payments from an internet site say that they also take orders from outside the country and from the whole of the EU however the amount of sales coming from places other than Malta is very small. Those that do not operate cross border say that they find Logistics a challenge. The payment methods accepted are MasterCard/Visa Credit and Paypal. Slightly less than half of the respondents use a payment security tool while the rest do not. Only a very small percentage say that they find problems with these tools.
Finally the GRTU asked them about the approximate level of fraud from internet payments. They said it was between 0 and 5%.
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).