Author: SME Chamber

The Malta Chamber of SMEs, in collaboration with MISCO, published the latest edition of the SME Barometer® report, offering invaluable insights into the economic pulse, business sentiment, and challenges confronting small and medium-sized enterprises (SMEs) in Malta.

The quarterly report has identified key findings from the Q1 2024 period:

1. Top Concerns: Employee shortage and inflation persist as the primary concerns for businesses, underscoring the challenges in staffing and managing operational costs.
2. Government Priorities: Lack of good governance and overpopulation have emerged as paramount issues surpassing inflation, signaling businesses’ urgent call for government intervention in addressing systemic challenges.
3. Investment Uncertainty: A prevailing sense of uncertainty looms over businesses’ investment plans for the upcoming year, reflecting cautious optimism amidst economic fluctuations.
4. Common Challenges: Regardless of size, businesses echo concerns over employee shortage, inflation, and unfair competition, indicating widespread challenges cutting across different sectors.

Additionally, with regards to their views when it comes to EU representation on their need, EU level, the SME Barometer reveals:

Representation Concerns: A majority of businesses express dissatisfaction with their representation at the EU level, emphasizing the need for more effective advocacy and engagement.

EU Election Priorities: Rising prices, inflation, and the cost of living emerge as the pivotal topics for discussion in the upcoming European Parliament elections, reflecting shared concerns over economic stability and affordability.

In light of these findings, the barometer offers strategic recommendations to address pressing issues:

Population Management: Urgent strategies to tackle overpopulation and attract foreign talent are recommended to alleviate demographic pressures and bolster workforce diversity.

Financial Relief Measures: Proposals to reduce taxes and Value Added Tax (VAT) aim to inject liquidity into SMEs, facilitating cash flow and enabling sustainable growth.

Procurement Reforms: Advocacy for public procurement reforms seeks to streamline processes, enhance transparency, and create a level playing field for businesses.

Overall, the SME Barometer® Q1 2024 Report presents a comprehensive snapshot of Malta’s SME landscape, outlining areas necessitating governmental and EU-level action to fortify business resilience and foster sustainable growth.

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About MISCO:

MISCO, a renowned research and consultancy firm, specializes in providing actionable insights and strategic solutions to empower organizations across various industries.

 

Serious concerns about Prime Minister statements and their potential repercussions on the country’s stability

The Malta Chamber of SMEs, The Malta Chamber of Commerce, Enterprise and Industry, as well as the The Malta Employers’ Association stated that the current situation regarding the magisterial enquiry on the Vitals Hospitals deal poses a serious risk to economic stability and Malta’s international reputation.

The attacks on the judiciary strike at the heart of Malta’s democratic credentials and challenge basic principles of governance. Malta, having already suffered through being grey-listed, cannot afford further reputational damage. Branding individuals, organizations, and institutions as ‘the establishment’ or enemies of the state does not contribute to the cause of justice.

The perilous nature of the situation is underscored by the potential for destructive alienation and tension within society, posing significant threats to social and economic well-being, and weakening the rule of law. In light of these challenges, there is an urgent need to promote public trust in the justice system and apply all legal remedies to ensure that the innocent are acquitted and the guilty are held accountable.

The employer bodies stress the importance of transparency and accountability in upholding the integrity of our institutions and the rule of law. It is imperative that the findings of the inquiry are not subject to speculative conjectures that undermine trust in judicial institutions. Any criminal proceedings warranted, should happen without any political interference or threats to the judiciary. The judicial process must be allowed to take its course. Any attempts to undermine the integrity of the inquiry only serve to erode public trust in the institutions and compromise Government’s future standing.

In light of these pressing concerns, the employer bodies call for prompt and responsible action to safeguard democracy and stability in Malta. An urgent meeting of the Malta Council for Economic and Social Development (MCESD) is imperative to address these critical issues and provide the required reassurance that the national interest will not be undermined by partisan agendas.

Ahead of the MEP elections in Juner, Malta Chamber of SMEs Deputy President Mr Philip Fenech, CEO Ms Abigail Agius Mamo and council members Mr Noel Gauci and Mr Mario Ciantar  met MEP candidate Steve Ellul and discussed several issues impacting SMEs and how the European Parliament and Malta’s MEP may communicate on issues related to SMEs.

As part of our ongoing collaboration with MCAST, the SME Chamber CEO Ms Abigail Agius Mamo is participating in a panel disccussion on the importance of apprenticeships for students and the industry and how both parties can complement each other.

The SME Chamber remains committed to assisting the industry through supporting apprenticeships.

The Malta Chamber of SMEs head of Policy Andrew Aquilina and the EU Affairs & Funding Executive Jamie Tanti have taken part in a productive two-day meeting at the GSEVEE headquarters in Athens, collaborating with international partners on the ARESME Social Dialogue European project. We’re working together to tackle the effects of Covid-19 on emerging work patterns and strengthen social dialogue across Europe.

Following the 75th Annual General Meeting of the SME Chamber which was held on the 28th of March, the SME Chamber council has met today in order to elect the President and its officials. Mr Paul Abela has once again been elected as President of the Malta Chamber of SMEs.

Paul Abela thanked the Council Members for their trust in electing him to serve as President. He also thanked Ms Abigail Mamo as CEO and her team for their dedication to the work of the Chamber. He said, he looks forward to another year at the service of members.

Mr Philip Fenech was confirmed as Deputy President and Mr Marcel Mizzi was confirmed as Officer – Finance and Administration.

The members holding a seat on Council are:

Paul Abela	President
Philip Fenech	Deputy President
Marcel Mizzi	Officer – Finance and Administration
Beppe Muscat	Council Member
Claire Shoemake	Council Member
Chris Vassallo	Council Member
Carmel Zammit	Council Member
Dino Fino	Council Member
Joan Haber	Council Member
Joseph Zerafa	Council Member
Mario Ciantar	Council Member
Mario DeBono	Council Member
Marthese Micallef	Council Member
Michael Galea	Council Member
Noel Gauci	Council Member
Patrick Cutajar	Council Member
Robert Micallef	Council Member
Sergio Camilleri	Council Member