What did the Malta Chamber of SMEs bring through for business in this year’s budget?
18 October 2021
The Malta Chamber of SMEs has noted a number of positive initiatives that will aim...
To further encourage enterprises to invest in sustainable and digitalised operations, businesses may benefit from up to €70,000 to implement projects which lead to more sustainable and digital processes.
The Smart & Sustainable scheme, managed by Malta Enterprise, will incentivize more competitiveness and better use of resources which will enhance the economic activity of these businesses.
This was announced by the Minister for Energy, Enterprise and Sustainable Development Miriam Dalli together with Malta Enterprise CEO Kurt Farrugia.
With the Smart & Sustainable scheme, businesses can benefit from up to €50,000 for every project, whereby those eligible can benefit from a 50% of the total eligible costs. Moreover, those eligible for this scheme may also benefit from a tax credit of up to €20,000 for each product which satisfies at least two from the three criteria, which are:
If a project satisfies one criteria, the tax credit assistance will amount to €10,000.
The European Union is committed to becoming the first climate-neutral bloc in the world by 2050.
This requires significant investment from both the EU and the national public sector, as well as the private sector. Apart from being an obligation, the twin transition to more digital and environmentally-sustainable business practices provides an opportunity for enterprises to grow, enhance their competitiveness and improve sustainability of the economic activity.
Malta Enterprise, as a pivotal economic development agency in Malta, will be supporting business in their investments to incentivise the adoption of these twin transition paths for growth.The Smart and Sustainable Investment Grant provides business funding to support the undertaking of investments that lead to more sustainable and digitalised processes leading to the enhancement of competitiveness of the enterprises through the optimisation of the use of resources in their activities.
Applications will be available from mid-November.
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).