SME Chamber officials meet MCESD President

SME Chamber President Mr. Paul Abela and Deputy President Mr. Philip Fenech met with MCESD President Architect David Xuereb as part of ongoing consultations regarding MCESD.

The discussion focused on key economic and business matters, reinforcing collaboration to support SMEs and enhance economic development in Malta.

 

Micro Invest Applications are now open – Claim up to €50,000 in tax credits

Micro Invest Applications are now open! And we may assist you!

Did you know that you are entitled to claim between €50,000 and €70,000 or 45% of costs incurred as a business in Tax Credits?

The scheme operates retrospectively, and one can claim costs incurred in the previous year.

The upcoming deadline for self-employed to submit their applications is on the 26th March 2025 while the upcoming deadline for companies is the 28th of May 2025 .

Eligible costs include, amongst others:

  • Increase in Wage Costs 
  • Furbishing and refurbishing of Business Premises (including part of)
  • Investment Costs (such as Computer hardware or development costs)
  • Motor Vehicle Costs (commercial type vehicles)
  • Security Systems
  • Point of Sale Upgrades
  • Website

The Malta Chamber of SMEs can take care of all the paperwork for you and make sure your application is submitted correctly, against a minimal administrative fee. Should you wish further information, please do not hesitate to get in touch with Ms. Bernice Sammut on 

Family-owned SME owners invited to participate in a focus group for succession planning family led SMEs

Each participating SME owner will receive a €75 voucher

The Malta Stock Exchange Institute is organising an online focus group on February 13th from 2:00 PM to 4:00 PM. Family-owned SME owners, as well as policymakers and politicians, are invited to participate in this session.

The focus group will bring together SME owners and key decision-makers in a collaborative 2-hour online discussion on the complexities of succession planning, while also addressing key challenges such as professionalization, financial stability, and innovation.

As a token of appreciation for their time and valuable insights on succession planning, each participating SME owner will receive a €75 voucher.

If you’re interested in joining the focus group, please send an email to .

 

The SME Chamber organises a Free Business Management Masterclass

The SME Chamber in collaboration with Kastellvp organised the first networking event for 2025 and a free Business Management Masterclass.

This Masterclass provided business leaders with practical strategies to overcome common frustrations and achieve sustainable growth. Through a set of powerful, hands-on tools, participants learned how to run their businesses more efficiently and effectively. Key takeaways included having a structure, having a strong foundation to support business growth, the importance of finding the right team members and ensuring they deliver results, avoiding bottlenecks and shifting focus from working in the business to working on it and implementing strategies to enhance business profits.

By the end of this complimentary masterclass, attendees walked away with actionable tools to help them prioritize effectively, gain clarity on challenges, and work together as a stronger, more aligned leadership team.

This was a valuable opportunity for businesses looking to elevate their companies from good to great. Special thanks to Kastellvp for the insightful tips!

We have more exciting opportunities coming your way during 2025! Stay tuned as we organise more awesome events in the coming weeks.

2024 Business Performance Survey Results: Employee shortage and unfair competition named as the top concerns for businesses

The Malta Chamber of SMEs published the findings of its annual Business Performance Survey for 2024 as part of the SME Barometer in collaboration with Misco Malta, providing critical insights into the performance, challenges, and expectations of businesses across the country.

The press conference was addressed by SME Chamber President Mr Paul Abela, Deputy President Mr Philip Fenech, COO Mr Andrew Aquilina.

The survey, conducted online between January 10 and January 22, 2025, collected data from 364 unique businesses spanning multiple industries.

Key Findings

  • Business Performance and Turnover:

Compared to 2023, 42% of respondents reported an increase in turnover in 2024, while 34% experienced no change, and 24% noted a decline. Key drivers of growth included improved marketing efforts (34%), better sales strategies (30%), and enhanced consumer confidence (20%).

  • Profitability Trends:

Profitability levels remained steady, with 41% of businesses reporting no change compared to the previous year. However, 33% experienced reduced profitability, highlighting ongoing challenges in cost management and resource allocation.

  • Rising Costs:

The main contributors to rising prices were increased employee wages (63%), and higher costs of imported products (54%).

  • Festive Period Sales:

During the 2024 festive season, 24% of businesses saw increased sales, while 46% maintained the same turnover as in 2023. However, 30% reported a decline in festive season sales.

  • Challenges Facing SMEs:

Businesses identified labour shortages, unfair competition, and increasing operational costs as top challenges. Delayed client payments also negatively impacted cash flow.

The Malta Chamber of SMEs President Mr Paul Abela said that the survey highlights several systemic issues affecting businesses in Malta, such as overpopulation, transparency and labour shortages. Mr Abela highlighted that the SME Chamber is currently preparing feedback related to the Malta Labour Migration Policy.

Mr Abela said that the challenges, including persistent employee wage and salary costs, along with rising costs of imported goods, have prompted calls for urgent government action to address issues of unfair competition and governance.

Mr Andrew Aquilina, Malta Chamber of SMEs COO highlight that another issue which resulted from this survey is related to the late payments and stated that this creates cash flow issues for SMEs, making it harder for businesses to meet their financial obligations and sustain operations.

Click here to download the full survey results.

Over 550 people register for an information session related to the Malta Labour Migration Policy

Earlier today, the Malta Chamber of SMEs hosted a highly successful information and consultation session on the Malta Labour Migration Policy.

Over 550 participants registered for this session, and more than 200 questions were submitted.

The Malta Chamber of SMEs extends its gratitude to Ambassador Malcolm Cutajar for his valuable participation and insights.

The SME Chamber will continue to gather feedback on this policy by email on

Invitation for businesses to participate during the Verdala International School career week

Verdala International School in Pembroke is currently planning to host a career week for Grade 9 and 10 students in mid-June.

As part of the career week, Verdala International School would like to invite local businesses to participate during this career week and  speak with students about different business sectors and opportunities in Malta.

Students are most interested in international business, law, the sciences, music, art, engineering, psychology, and computer science.

If interested, send an email on ucadvisor@verdala.org

Malta Development Bank presents study related to the Covid-19 guarantee scheme to the SME Chamber executive council

THE MDB COVID-19 GUARANTEE SCHEME: AN EX-POST ASSESSMENT

The Malta Development Bank presented the results of a research related to the MDB Covid-19 guarantee scheme to the Malta Chamber of SMEs executive council.

The COVID-19 outbreak, and the ensuing period of heightened uncertainty and economic volatility, precipitated a sudden and acute liquidity shortage for businesses in Malta. The MDB’s swift response through the COVID-19 Guarantee Scheme (CGS) provided guarantees to commercial banks to help businesses in Malta access bank financing for working capital requirements. The CGS was approved by the European Commission in April 2020 under the State aid Temporary Framework to support the economy, as part of the wider package of the Government of Malta’s COVID-19 Response Support Programme. A Guarantee Fund of €350 million was allocated by Government for the purpose of guaranteeing loans by commercial banks. The CGS addressed working capital needs for hundreds of businesses and was rolled out in record time by the MDB. The CGS peaked at more than half a billion euro in sanctioned working capital loans and remains MDB’s largest scheme to date. By the end of the inclusion period in June 2022, slightly more than two years from the launch of the CGS, the total amount of working capital loans sanctioned by the nine partnering commercial banks that were accredited to roll-out the CGS stood at €482.6 million, supporting close to 600 CGS facilities to more than 500 businesses.

The supported businesses collectively employ around 40,000 persons and range from hotels to large retail outlets, but also to smaller firms from all economic sectors. The assessment presented in this study is based on field research in the form of a survey conducted amongst a sample of beneficiaries of the CGS, as well as an economic impact measure based on the Gross Value Added data of all businesses benefitting from the scheme. This assessment aims to identify lessons learned, providing valuable insights to enhance future decision-making by pinpointing areas for improvement in both scheme design and implementation. By conducting ex-post analyses, the MDB ensures accountability, transparency, and evidencebased decision-making, fostering a culture of continuous learning and optimisation of its initiatives.

The assessment shows that the MDB scheme supported €1.7 billion in GVA equivalent terms. When taken as a share of total 2019 GVA, this €1.7 billion translates to around 13.0% of Malta’s 2019 GVA. From a sectoral point of view, the level of GVA supported for “Wholesale and retail trade, transport, accommodation and food service activities” by the CGS at 2019 levels was €849.6 million, or 34.3% of nominal sectoral GVA in Malta at 2019 levels. M

The impact of MDB’s countercyclical role cannot be assessed in isolation, but as part of broader government economic regeneration measures targeted towards local businesses, which amongst others included wage supplements and subsidies on utility bills and fuels. Nevertheless, economic literature suggests that working capital problems may severely affect the supply side of the economy. In this regard, the MDB’s working capital scheme during the Pandemic has been of critical importance to ensure that operating liquidity is constantly available to firms, which in turn is crucial for the efficient operation of businesses.

Andrew Aquilina appointed COO of the Malta Chamber of SMEs

Mr. Andrew Aquilina has been appointed Chief Operations Officer (COO) of the Malta Chamber of SMEs.

Having joined in 2017, he initially focused on EU affairs before becoming Head of Policy. As COO, he will oversee daily operations while reporting to the Executive Council.

Mr. Aquilina is committed to continue working diligently for SME members, representing them in various forums, and contributing to the Chamber’s ongoing success.