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The Ministry for Energy, Enterprise and Sustainable Development announce the extension of the rent subsidy scheme to help small and medium-sized companies increase their warehouse space.
This scheme was one of the Malta Chamber of SMEs Budget proposals as an assistance due to the increase in international freight cost.
The Government has decided to widen the eligible activities that may be supported through the scheme, which is open to enterprises in need of industrial space to: start a new business; implement growth plans; manage increases in orders; optimise supply chains and innovate processes to increase efficiency.
Companies seeking to rent an industrial premises can receive a subsidy of up to €75,000 spread over three years.
Addressing a press conference, Minister Miriam Dalli and Malta Enterprise CEO Kurt Farrugia said the scheme was being extended to all companies to help mitigate the rise in freight costs. So far, this scheme has been aimed at manufacturing companies, vehicle maintenance companies and the industry sector.
With this extension the scheme aims to help a wider range of businesses, especially bulk import operators.
More details about the scheme can be found on businessfirst.com.mt
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).