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Tag: malta chamber of smes

Paul Abela confirmed as President of the Malta Chamber of SMEs

Posted on by SME Chamber

Paul Abela has been confirmed as Malta Chamber of SMEs President for the year 2020-2021.

During the Annual General meeting Mr Abela thanked the council for their support. He mentioned that while 2019 was a successful year for business, 2020 has been very difficult for almost all members of the SME Chamber because of all the challenges that Covid-19 has brought about.

Mr Abela stated that during this coming year he will continue working on strengthening the organization and building on over 70 years of success that the Chamber of SMEs has achieved. He mentioned the rebranding exercise of the SME Chamber and explained that this has already given great results, in visibility, effectiveness and in memberships.

Mr Abela thanked the organisation’s CEO, Ms Abigail Mamo and the SME Chamber Staff for their hard and dedicated work and stated that the organisation was never as professional and held such a high profile as it did today.

‘SMEs today know that they have a home and that we will be with them through thick and thin. The positive feedback I receive from our members is greatly encouraging and assures me that we are on the right track’, concluded Paul Abela in his first address to the SME Chamber Council.

Malta Chamber of SMEs Annual General Meeting 2019-2020
Left to right (Philip Fenech Vice-President, Paul Abela President, Abigail Mamo CEO and Marcel Mizzi Vice-President

Mr Abela was elected President for the first time in 2006 and since then he worked on strengthening the position of the SMEs and bringing their interests forward on the agenda.

The 5 officers elected as Vice-Presidents are: Philip Fenech Vice President – policy and strategy; Marcel Mizzi Vice President – finance and administration; Sergio Camilleri Vice President – sectors; Michael Galea  Vice President – districts and localities and Noel Gauci Vice President – training and development; Mr Chris Vassallo was elected for the first time as Vice President – international relations.

Rent refund application process begins – Malta Enterprise

Posted on by SME Chamber

More than 16,000 businesses currently receiving the wage supplement have received the application for the rent refund.

Through this measure, businesses will be receiving € 2,500 in aid. Businesses operating from more than one location and employing more workers can benefit up to € 7,500.

The aim of this incentive is to reduce the burdens on businesses and the self-employed that have been encountered in the first months of the COVID-19 pandemic.

Malta Enterprise’s initial email provides clients the link for an online application. The application is divided into four elements:

1.      The presentation of a lease contract valid before 9 March 2020.

2.       Copy of the last rental receipt (including part of 2020).

3.      To provide information on any financial grants that the business has already received from different Government departments to date

4.       ‘Undertaking in difficulty’ declaration form.

All those who have benefited from the COVID Wage supplement are also eligible for this scheme.

The process follows the same method of interaction that customers have already become accustomed to through the wage supplement. If the steps are done correctly, then the applicant will only have to wait for the confirmation emails (Approval) from Malta Enterprise. After accepting this email the applicant receives the money directly into his bank account.

Applications will be accepted until 9th October 2020

This measure is the latest in a series of measures being administered by Malta Enterprise specifically part of the Economic Regeneration package. Apart from this process, since March, Malta Enterprise has also been administering the Wage Supplement scheme, incentives in connection with Telework equipment, compensation to employers for quarantine leave, as well as the refund on the electricity bill.

More information can be obtained from the dedicated site: regeneration.maltaenterprise.com or by calling 144.

Source: Malta Enterprise

350 plastic bottle return machines to be stationed around Malta and Gozo – SME Chamber representing retailers

Posted on by SME Chamber

“Malta Chamber of SMEs is part of the consortium that will be running the scheme, representing retailers”

“Bottle return scheme to be up and running within 14 months”

A total of 350 reverse vending machines are going to be stationed around Malta and Gozo within the next 14 months, Environment Minister Aaron Farrugia announced earlier today.

The reverse vending machines will allow people to return used plastic drinks containers in return for 10c per bottle.  The Malta Chamber of SMEs will be part of the consortium that will be running the scheme. Malta Chamber of SMEs President, Mr Paul Abela was present and signed the agreement on behalf of the retailers.

The aim is for 85% of plastic bottles used in Malta to be recycled.

A licensing agreement was signed with the consortium of importers, producers and retailers and the Resource Recovery and Recycling Agency (RRRA).

Minister Farrugia said the agreement will also lead to a new plastic bottle recycling centre being built at Hal Far as part of a €15 million investment in the new scheme. The Environment Minister said the scheme would help Malta hit its recycling targets.

RRRA CEO Anthony Rizzo said he hoped the scheme would boost the way in which both producer and consumers become more responsible when consuming and disposing of reusable plastic.

In tandem with the scheme, the government will also be forging ahead with plans to gradually phase out single use plastics.

From January 1, importation of many types of single use plastics will be banned. The following year, the sale of single used plastics will be banned, Farrugia said.

Source: timesofmalta.com

Malta Chamber of SMEs meets Opposition delegation to discuss the 2021 Budget proposals

Posted on by SME Chamber

“Budget 2021 must guarantee a financial package that will see businesses through the Covid period and beyond”

The Malta Chamber of SMEs met a delegation from the Opposition to discuss the proposals for the 2021 Budget.
Malta Chamber of SMEs President Mr Paul Abela said that earlier this week the SME Chamber published its full set of 19 Budget proposals that mainly focus on the required urgent response mechanism to counter the effects of the Covid 19 pandemic on businesses.
Paul Abela mentioned that 2020 is nothing like what anyone expected and will be remembered as an exceptional year for all the wrong reasons.
Mr Abela said that Budget 2021 must guarantee a financial package that will see businesses through the Covid period and help them rebuild their strength to be able to sustain the Maltese Economy independently again.
Paul Abela said that the Wage Supplement, which proved to save thousands of jobs across Malta and Gozo, was a proposals of the SME Chamber and implemented following our insistance.
Mr Abela insisted that the SME Chamber’s Budget 2021 targets businesses and consumers alike, who depend on each other now, with the effects of Covid, more than ever. Mentioning mainly the Reduction of Income tax on Business Trading Income, Covid Wage Supplement to Extended till March 2021 to give businesses pradicability, Re-launching the Voucher Scheme and Redistribution of another round of Eur100 vouchers and Extending MicroInvest benefits amongst other important proposals.
The delegation from the Opposition, composed of Hon. Mario de Marco, Hon.  Claudio Grech, Hon. Hermann Schiavone and Hon. Kristy Debono stated that the role of Malta Chamber of SMEs throughout Covid-19 was very important and influential.
The delegation acknowledged the work behind the SME Chamber Budget proposals and said that the Opposition will take on board the SME Chamber budget proposals which will eventually be included in the Opposition Pre-Budget Document.
Abigail Mamo, CEO of Malta Chamber of SMEs and Philip Fenech, Vice President of the Malta Chamber of SMEs were also present for this meeting.

SME Chamber launches its new website

Posted on by SME Chamber

Visit www.smechamber.mt

The Malta Chamber of SMEs gave life to its rebranding strategy at the beginning of 2020. Since then we started building on our new brand on the public front. We are pleased to say that later during this busy year, during September 2020, the Malta Chamber of SMEs completed its regeneration process with the launch of its brand-new website. The new website is state-of-the-art and offers enhanced user accessibility and functionality. The highlight however is the added value this website will be giving to our members.

The new website, www.smechamber.mt, part-financed by the European Social Fund, aims to offer an added layer of support to all businesses, especially members, through the access of premium content in terms of resources. Businesses, especially members, will have access to basic resources, to give them better tools to work with and easier compliance.

The Malta Chamber of SMEs is a 70 year old organisation, and, similarly to the rebranding exercise, we are not wiping the past but building on it and strengthening it. The new website therefore includes past resources in the previous website that will be found through the search function.

The SME Chamber website also offers online payment options. New members will be able to apply and become members instantly and start benefitting from all benefits associated with the Membership.

The online Payment gateway is powered by our partners, Acquiring.com which offers online and electronic payments solutions.

Malta Chamber of SMEs presents 19 proposals for a Covid 19 Budget year

Posted on by SME Chamber

“SME Chamber calls for a Budget of strength to sustain businesses through the Covid crises and beyond.”

Photo: timesofmalta.com

 

The Malta Chamber of SMEs has published its full set of 19 Budget proposals that mainly focus on the required urgent response mechanism to counter the effects of the Covid 19 pandemic on businesses.

In his foreword, the SME Chamber President Paul Abela states that 2020 is nothing like what anyone expected and will be remembered as an exceptional year for all the wrong reasons. Mr Abela also explained that businesses had hoped for greater stability in 2020, after Malta had gone through very turbulent months at the end of 2019 and later saw the election of Dr Robert Abela as Prime Minister. Unfortunately, Covid 19 did quite the opposite. 

Lack of confidence, lack of stability and great uncertainty have been with us for close to a year now when considering also the political instability that we closed 2019 with. Businesses have been hit very hard and Malta is still not rid of Covid and will not be for some more time. Budget 2021 must guarantee a financial package that will see businesses through the Covid period and help them rebuild their strength to be able to sustain the Maltese Economy independently again.  

 

Below are the highlights of the set of proposals being put forward by the Malta Chamber of SMEs: 

REDUCTION OF INCOME TAX ON BUSINESS TRADING INCOME

To 20% for the first Eur 100,000 in profits, to leave increased liquidity in the pockets of businesses 

 

LOWERING THE VAT RATES ACROSS THE BOARD

10% from the current 18% and extending the special VAT rates for businesses that have been hardest hit by the pandemic. Similar to what other countries have done, lower VAT rates will encourage increased consumption 

 

REMOVAL OF SISA

An unfair and hidden tax on consumption. SISA removed for all goods that do not carry the excise identifying marker 

 

COVID WAGE SUPPLEMENT

Extended till March 2021 to give businesses pradicability 

Reintegrating a number of business sectors on the original wage supplement 

Give the possibility to employers to integrate critical staff in the Wage Supplement system to replace employees that have left and not made redundant 

 

RELAUNCHING THE VOUCHER SCHEME

Redistribution of another round of Eur100 vouchers 

 

INCREASED BANKING SUPPORT  

Extending the moratoria on bank repayments for an additional 6 months in the form of a partial moratorium 

Interest rate subsidy of 2.5% to be extended to all loans linked to new investments 

 

NEW EMPLOYMENT AND TRAINING SCHEMES

A full financed training scheme that will incentivise the business to keep employees on and rather than staying unproductive 

A re-employment grant scheme where employers that employ someone who has over the last months been made redundant due to Covid would be assisted by covering Eur 500/month of the wage for one year 

Strengthen the Get Qualified scheme to encourage personal development 

 

E-COMMERCE SUPPORT SCHEMES

A grant scheme that would help businesses cover costs linked to the successful execution of a website which are beyond the cost of building a website per se 

 

EXTENDING MICROINVEST BENEFITS 

Extending the cash conversion possibility of MicroInvest from 30% to 50% up to a maximum of  Eur 5000 insteatd of Eur 2000  

Extend eligible costs covered by MicroInvest to cover Covid consumables such as disposable and reusable masks, disinfection and fumigation services and sanitizers 

 

NO BUSINESS SUCCESSION TAX ON CAUSA MORTIS

 When a business stays within the immediate family.

 

IMPROVING THE ACCESSIBILITY TO AND WITHIN GOZO IN A SUSTAINABLE MANNER TO PRESERVE GOZO’S PRISTINE NATURE

 

The SME Chamber’s Budget 2021 targets businesses and consumers alike, who depend on each other now, with the effects of Covid, more than ever. 

We thank the Prime Minister for his support and cooperation during this difficult year as the state support measures were crucial to avoid mass business closures and unemployment.

Wage supplement, COVID-19 vouchers extended to October

Posted on by SME Chamber

SME CHAMBER WELCOMES THE NEWLY LAUNCHED AND EXTENDED AID INCENTIVES TO MITIGATE THE IMPACT OF COVID ON BUSINESSES 

The Malta Chamber of SMEs greatly welcomes the newly launched rent subsidy scheme for self-employed and businesses. The SME Chamber was the main business representative that has been campaigning incessantly for the government to support enterprises with their rental costs.

The first time the scheme was announced way back in June, the SME Chamber had expressed its disappointment that Eur2,500 fall short significantly and will have little impact on businesses needing help with accumulating rental costs. Since then, the SME Chamber has continued actively working with the authorities and insisted that the scheme should be widened to cater for businesses according to size. We therefore greatly welcome the improved announced scheme that on its own can reach up to Eur 7,500 in aid to businesses.

The SME Chamber also expresses its satisfaction with today’s announcements that two main pillars in government’s enterprise support strategy are being extended. The Wage Supplement and the Voucher Schemes were two essential measures that have kept the majority of businesses afloat during these difficult times. The SME Chamber also appreciates that this comes before the 2021 Budget that should then announce further support measures beyond this period.

In its Budget proposals the SME Chamber is specifically asking for an extension of the Wage Supplement till March 2021 and for another round of vouchers to be issued under the voucher scheme and extended for consumers to be able to spend it till December 2020.  The SME Chamber is expecting the situation to stabilise more as of March of 2021 which is till when it is envisaged that businesses will require support.

The Malta Chamber of SMEs thanks Hon Silvio Schembri as Minister for the Economy and Small Businesses as well as Mr Kurt Farrugia as Malta Enterprise CEO, for their support during this challenging time.

SME Chamber discusses rent proposals with Minister Ian Borg ahead of next week’s Covid Busget

Posted on by SME Chamber

Malta Chamber of SMEs President Paul Abela and CEO Abigail Mamo this morning met Hon Minister Ian Borg, the Hon Parliamentary Secretary Chris Agius and the Lands Authority Chairman Lino Farrugia Sacco and CEO James Piscopo to discuss important matters related to the immediate support businesses need with regards to rent.

Piling rental costs represents one of the main concerns that businesses are experiencing in this precarious time of Covid. Preserving businesses’ current condition and not let it deteriorate further until the economy starts improving is where urgent government support is necessary. Expenses accumulating during this time will take very long to recuperate making the recovery of businesses longer and more difficult.

SME Chamber President Paul Abela said that ‘as an SME Chamber we expect the Government to recognise the responsibility it has towards saving business and should lead by example. The Lands Authority should be giving aggressive discounts at the moment that would see the tenant paying only a share of what is due for the time being’. We have to collectively realise that business is down across the board, with some sectors reporting figures of just 10% turnover compared to the norm. The same expectation goes for the Malta Industrial Parks that should also be leading by example.

This will give out a very important message on what changes are needed in rents including the private sector. Specific schemes should be made available for landlords to encourage a burden sharing approach where the landlord forfeits part of his/her revenue and the government subsidises another part, leaving the tenant with his/her share to pay. As an SME Chamber we are hopeful that next week’s budget will not leave this matter unaddressed.

During the meeting discussions also focused on extending current rental schemes to open opportunities to businesses in government owned property wishing to consolidate their position and invest in their establishment. It was agreed that a joint study would be undertaken to ensure a tailored approach given the current sensitive scenario that will lead to a nation-wide scheme for businesses.

 

67% of businesses suffer incomplete or close to a complete suspension – SME Chamber survey

Posted on by SME Chamber

COVID-19 IMPACT CONTINUES TO BE HEAVY ON BUSINESSES

Businesses show resilience but numerous concerns still threatening their survival

The Malta Chamber of SMEs has conducted a second study to continue assessing the impact of the Covid-19 pandemic on businesses. As anticipated, just over a month into the pandemic, the situation has so far not improved much. Full implementation of the government support measures are eagerly awaited in order to start making a difference. The study was carried out between the 4th and the 19th of April and 360 SME respondents participated covering all economic sectors.

67% of respondents have indicated suffering what is a complete or close to a complete suspension, with over 75% of their business at a standstill. 10% from specific sectors claim that they are still fully operational. These include pharmaceuticals, food products, telecoms, ICT, construction, machinery and tools, corporate and financial services amongst others.

The primary concern for businesses remains wage costs. The main reason that this remains major concern is that the wage supplement has only started to be distributed. Furthermore, many businesses feel that their business should qualify for the full supplement when in fact it does not. Businesses are now opting for alternative solutions to decrease their losses and maintain their operations. 22% claim that they asked the Department of Industrial and Employment Relations (DIER) for approval on changes to that they made to working agreements with their employees. 12% claim that they have started redundancies to some degree.

24% of the respondents claim that they are concerned with late payments. In fact a tug of war seems to be developing between businesses saying that they plan to enforce credit terms while others are saying that they are stopping all kinds of payments. Whilst we appeal for businesses to be understanding and flexible during these extraordinary times, as an SME Chamber we also appeal to businesses utilize available schemes, including the Covid Guarantee Scheme (CGS). Once fully operational, the CGS will enable payments due to creditors to be made through temporary financing. In this way, businesses will be able to pay their creditors and encourage the functioning of the domestic economy.

Rents so far continue to be a major concern with 25% claiming that they would like to see some form of intervention. The measure of regulating banks to issue moratoria on loan repayments across the board should ease pressure on landlords. Undoubtedly landlords are worried about their own repayments, and therefore this courtesy should be extended to their tenants.

If things stay as they are only 19% of businesses see themselves making it beyond a further 3 months. Hopefully, with the full benefits of the intervention measures and moving closer to the aftermath of Covid, will mean that this percentage increases in the weeks to come. Another 19% is on the other hand is encouraging with businesses thinking of their current and future sustainability by indicating investing more in selling online as well as reinventing their products/services.

As an SME Chamber, our biggest concern is however on how the effects of Covid-19 are negatively affecting people’s mental health, both business owners and their employees. Around 45% of business owners and employees state that their mental health has been surely affected to significantly affected by the effects that the pandemic has had on their enterprises. As businesses representatives we are continuously working to help SMEs work their way through the current difficult months. We continue to strive to easy their worries by suggesting practical solutions as much as possible