Fabian Demicoli

Help for smaller firms in spite of austerity…but not in Malta

In spite of the austerity Budgets and financial cuts of 81,000 million sterling, the British Government still found funds to assist the smaller firms….But not on Malta.

 

GRTU has been striving hard since Budget 2007, as the recession was still on the horison, for Government to introduce in Malta the Enterprise Finance Guarantee Scheme. This is the scheme that would have made the difference for small businesseas as they suffered the squeze of substantial drop in sales and a more stringent attitude from the commercial banks while Public authorities competed among themselves who would burden small buisinesses most with increased bureaucracy and additional bills.

An Enterprise Finance Guarantee Scheme would have lended money to firms that cannot obtain funds elsewhere. Another proposal made by GRTU that should have gone hand in hand was the Regional Growth Fund aiming to boost job creation and provide fiscal advantages for enterprises in the locality.

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