Press Release: Businesses reach expectations overall for Black Friday
27 November 2020
Black Friday was still exceptional when compared to the rest of the year and sometimes...
Vince Farrugia, Director General of GRTU, is presenting to Government a package to help boost the current low level of consumer spending that is effecting many shops, bars, restaurants and other outlets of direct consumption. One main suggestion is the issue of an additional bonus which would in fact double the normal salary bonus received by all workers in June. While the June bonus is paid for by business owners, the second bonus which GRTU is proposing should be given out in May, will be paid all by Government .
The impact of doubling the mid-year bonus will have a direct impact on the level of spending during the time when tourism appears to be low according to current levels of bookings and at a time when additional incomes through second jobs and part-times jobs is very low. The recent survey conducted by GRTU measuring current consumers` purchasing power indicate that an additional boost is essential. When considering the effect this will have through income tax, VAT and other tax revenues, the net outlay of Government will not be exceptionally high. "Yes, the Maltese economy also needs its own stimulus package and it is best that we start by stimulating the consumer" Vince Farrugia said.
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).