European SDG Summit 2021: For Climate Action & a Just Transition – Registrations Open
23 September 2021
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Incentives need to go up
GRTU Director General Vincent Farrugia insisted that the results of GRTU's State of Small Businesses Report for January till June 2008 shows clearly that while turnover has been sustained in spite of all difficulties, it clearly results that enterprises are only passing on to consumers part of the heavy increase in costs they are having to sustain.
Increased competition and diminishing purchasing power of consumers, due to the rising inflation rate (HICP annual rate 4.7%), is forcing retailers, traders and service providers to suffer loss of profits to sustain turnover.
Banks, creditors and suppliers shiver as they see tomorrow go down but sustaining poor rates operating surpluses for a long time is bad business.
"GRTU" Vince Farrugia says, "worked on a number of incentive schemes that government has successfully implemented to bolster sales in favour of agreed social objective; like increased household computer and internet usage, more e-commerce retailers to services consumer, boost of energy saving domestic appliance and solar heating systems and the highly successful GRTU campaign for government to adopt a pro-low cost airlines schemes.
These schemes have gone miles and miles in improving business performance for many. GRTU is now proposing a new set of proposals to continue to bolster sales.
The adverse cost and economic situation hitting us from abroad will further eat away, probably with great dangers for the marginal firms unless government acts now. Smart government is all about adopting clever decisions at the right time"
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).