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23 January 2021
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The European economic outlook significantly worsened in the last quarter of 2008. GRTU spoke in several occasions, including its business conference, on the need to shelter SMEs as much as possible from the impact of the crisis.
More recently, GRTU welcomed the "European Economic Recovery Plan" published by the Commission on 26 November and subsequently adopted by the European Council, which contains a set of measures to address the worsening economic situation.
GRTU feels the text is a strong signal of the Commission's willingness to take decisive action against the deepening economic crisis. GRTU particularly appreciated the EC proposals for additional measures to secure access to finance for SMEs, to speed up the reduction of VAT rates for labour intensive services and to cut labour taxes at the low end of the wage scale.
GRTU was however less satisfied with the social chapter, which does not mention the consequences of downsizing in large enterprises for smaller service providers, suppliers and subcontractors. Restructuring support must also include SME employees and owners especially if based on EU funds.
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).