Foundation for Transpport meets new Transport Minister
20 May 2022
The Foundation for Transport of which the Malta Chamber of SMEs is a founding member...
Below are the results, in quote, of a study undergone by the European Commission on how different Member States, amongst which Malta, are fairing in areas that are of primary importance to business. While it clearly shows that in Malta SMEs contribute more to our employment, economy and constitute a larger percentage of enterprise when compared to the average, the picture, as we expected, is not at all rosy:
In Malta, the entrepreneurship rate, measured as the share of adults who have started a business that is still active or are currently taking steps to start one (5 %) is significantly below the EU average of 24 %. The participation in entrepreneurship education also return below-average results.
Think small first
While time required to comply with administrative obligations as a percentage of total SME working time returns a lower and, hence, better value for Malta as compared the EU on average, the share of SMEs stating that they encountered difficulties in the last two years with administrative regulations is above the EU-average.
With 95 % of the 20 basic services available online Malta is actually the second best in class, surpassed only by
The start-up time is with 5-8 days in line with the EU- average of 7.7 but still outside the goal of three days formulated and agreed upon at the 2009 December meeting of the European Council. The startup costs are cheaper in Malta than in the EU on average, but there still seems to be an issues with the one-stop shop not fully operation for all firms and sectors.
Public procurement and State Aid
The proportion of total State aid devoted to SMEs (1 %), is considerably below the EU-average of (10 %).
The share of Maltese SMEs experiencing problems with access to finance in the last years is of 35 %, which is considerably higher than the EU-average of 21 %.
Planned share of Structural Funds dedicated to stimulating entrepreneurship and SMEs in 2007-2013 is below the EU-average
Skills and Innovation
Almost all of the innovation indicators return below-EU average results
The sole exception being the percentage of enterprises having received orders on-line which was in line with the EU average.
The share of SMEs using e-learning applications for training and education of employees is on a par with the EU-27 average, the share of SME staff that have tertiary education on the other hand ranks below EU-27 average.
While the share of SMEs applying simple measures to save energy (30 %) is on par with the EU-27 average (29 %), the share SMEs having comprehensive systems for energy efficiency on the other hand is comparatively lower (Malta: 3 %, EU: 4.25 %).
The performance on the export side was less impressive: total revenues from export divided by total sales, on the other hand, were below than the EU-27 average (Malta: 3 %, EU: 6 %), while the percentage of SMEs that had any direct exports in 2006-2008 (30 %) is however on par with the EU- 27 average.
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).