Fabian Demicoli

Schemes open for small businesses!


The
Micro Invest Scheme is once again open. The scheme will support This scheme
supports micro enterprises  and the self-employed (employing up to 30
persons as at 30th November 2012) that invest in their business, innovate,
expand, implement compliance directives and/or develop their operations.

These
enterprises will be supported through a tax credit equivalent to 40% of
eligible expenditure. An additional bonus of 20% (total 60% tax credit) applies
to undertakings operating from Gozo. The tax credit is capped at €25,000 per
undertaking.

It
covers costs incurred and paid for between 1st January 2013 and
31st December
2013 for:

  • Furbishing and
    upgrading of business premises for improved operations;
  • Machinery or
    technologies to improve operations;
  • Investments
    which enable compliance with regulations, including Health & Safety,
    Environment Directives and Physical Access;
  • Cost of one
    commercial vehicle as long as such vehicle is involved in the transport of
    goods as specified in the guidelines;
  • Wage Costs for
    new jobs created.

 

 

 

Applications
for assistance will be received until the 28th March 2014.    

Further
information and documents can be accessed on: http://www.maltaenterprise.com/en/support/microinvest

Please
do not hesitate to contact GRTU should you need further information.

 

Micro Guarantees Scheme

 

The
Micro Guarantees scheme shall provide eligible undertakings with the possibility
to access funds required through a guarantee of up to 80% on loans for the
acquisition of tangible investments, intangible assets and working capital
linked to such acquisitions. The Micro Guarantee may only be used to support a
new loan, used to finance investment costs approved by the Malta Enterprise,
which in total do not exceed €100,000.  

The
applicant must employ at least one employee (who may be the self-employed
person) and must not have employed more than 50 persons (full time equivalent)
at any instance during the previous 12 months.

Both
the project being proposed, and the loan itself, should be linked to one or
more of the following outcomes:

1. Establishment of new business.

2. New or improved products, services or processes.

3. Adoption of new technology.

4. Reduction in costs.

5. Increase in sales.

6. Retention and/or generation of new/additional
jobs.

7. Increased productivity.

8. Potential of growth in foreign markets.

The
guaranteed loan should have a distinct term with a predetermined fixed
repayment schedule and may in no case exceed ten years. Interest rates on all
facilities shall be in accordance with the policies of the bank issuing the
loan.

Further
info: http://www.maltaenterprise.com/en/support/micro-guarantee-scheme

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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.

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