SME Chamber and HSBC Malta Foundation organises a webinar on sustainable practices with particular focus on the retail, wholesale & hospitality sectors
26 May 2022
The Malta Chamber of SMEs and HSBC Malta Foundation organised the 3rd out of a...
A new version of the wage subsidy scheme based on the level of losses suffered by businesses as a result of COVID-19 was announced on Tuesday.
Minister for Energy and Enterprise Miriam Dalli and Malta Enterprise Chief Executive Officer Kurt Farrugia told a press conference that assistance would be based on VAT returns as compared to the same period in 2019.
Minister Miriam Dalli said a new feature of the 2021 scheme is that it will also cover worker substitution, in that, for example, if a chef resigned from a restaurant and another was engaged, that restaurant will get the wage supplement for the new chef, back-dated to October. In such cases, the number of workers cannot exceed what was on the company books last May. This initiative was proposed by the Malta Chamber of SMEs following several comments by members.
The purpose of the scheme, she stressed, was not just to save jobs and help business survive, but to also encourage growth.
“With the onset of vaccines, this is the right time to work on a strategy which not only helps those in need, but also ensures that businesses not only survive, but grow.”
The wage supplement will mean a government outlay of €40m per month, and Dalli pointed out that businesses also benefit from other schemes on their utility tariffs and rents.
Malta Chamber of SMEs President Paul Abela was present during the press conference.
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).