Covid wage supplement extended to March

The wage supplement was introduced in March 2020 followinga proposal by the Malta Chamber of SMEs

Minister Miriam Dalli announced that the COVID-19 wage supplement has been extended to March.

Minister Dalli said that “the government has and continues to support businesses and entrepreneurs, as despite the COVID-19 situation, we want them to grow and strengthen their operations”.

During discussions with Government officials throughout the past weeks, the Malta Chamber of SMEs had emphasised on the importance to extend the wage supplement  until end of March.

Minister Dalli said the extension was approved by cabinet and that the government would be monitoring the country’s economic situation.

“Several sectors were impacted by the pandemic in January and February,  especially tourism. We now expect March to be a time for recovery, which is why we decided that this aid needs to remain” she said.

Trust Payments sign agreement with APS Bank to offer merchant acquiring services

Trust Payments are partners of the Malta Chamber of SMEs

Merchant acquiring services are provided to merchants, such as retail establishments, to enable them to accept credit or debit card payments

Malta chamber of SMEs partners, Trust Payments and APS Bank on Thursday announced a new partnership.

APS bank business customers will now be able to accept card payments through a POS terminal and other forms of electronic payments, with the funds being deposited into their APS Bank account.

APS bank customers can also benefit from Trust Payments’ innovative eCommerce platform which equips merchants with easy-to-use tools to build, scale and sell online.

Mr Steve Grech, CEO of Trust Payments Malta, said: “This is a great opportunity for us to work together with APS Bank, a reputable long-established and fast-growing local bank, to help their business customers to access acquiring and eCommerce services and solutions quickly and easily.”

Mr Anthony Buttigieg, Chief Banking Officer at APS Bank, added: “We are constantly working to continue improving our service for business customers. We have decided to partner up with Trust Payments as our merchant services provider, because of their trusted, well established and easy to use service, account management and around the clock technical support.”

Malta Chamber of SME and Trust Payments partnered over a year ago and through this partnership, Trust Payments offer a competitive card payments charges for the SME Chamber members.

Businesses are encouraged to check this out to see how much their business will save as from day one.  If you wish further details kindly send an email on  or call +356 21232881.

Qatar Free Zone opportunities for Maltese businesses

QFZ is dedicated to providing companies in the free zones—or considering opening operations in Qatar’s free zones

Malta’s Ambassador in Qatar have recently met with H.E. Ahmad bin Mohammed Al-Sayed, Minister of State, Chairman of the Board of Directors of the Qatar Free Zone. In this meeting it was agreed to strengthen the cordial relations between our two countries, especially enhancing bilateral ties in trade in addition to possibly attracting Maltese investment to the Free Zones in Qatar.

The Qatar Free Zone (QFZ) is run within the structure of a business-friendly regulatory environment, with a legal system based on common law and backed by strong IP and data protection regulation. The government has recently set new laws and regulations to continue liberalizing the economy and encouraging investment, while strong institutions ensure investors are able to take best advantage of this environment. Additionally, the government has taken major reforms to support attraction of FDI to the country and recently established the Investment Promotions Agency (IPAQ) to promote Qatar as a preferred destination location for foreign direct investment.

QFZ is dedicated to providing companies in the free zones—or considering opening operations in Qatar’s free zones—with top-of-the-line services and opportunities, including brand-new infrastructure, tax exemptions, partnership opportunities with Qatari entities, access to investment funds for eligible companies and a wide range of land plots including different building options in both zones to meet all needs.

Unlike many free zone developers, QFZA oversees Qatar’s free zones as an independent regulatory body, providing a one-stop shop for the entire set-up and management process.

If you’re interested in the Qatar Free Zone kindly contact us by email on ">

Malta Chamber of SME CEO participates during JCI’s Malta ‘Change Politics’ event

Malta Chamber of SMEs CEO Ms Abigail agius Mamo participated during one of JCI Malta Change Politics online event, entitle “I’m not your party favour”

During this virtual event, the panellists discussed political favours and clientelism.

CEO Abigail Agius Mamo emphasised that the Chamber of SMEs is against and works against favouritism. The laws and opportunities must be equal and accessible to all in the same manner. One favour means everyone else is left at a disadvantage. This creates unfair competition and an unjust economy and society.

Changes in operator’s Licence for the Carriage of Goods using Light Commercial Vehicles

This regulation starts from the 21st of May 2022

Transport Malta announced that the international carriage of goods by road using Light Commercial Vehicles with a maximum permissible mass exceeding 2,500kgs but not exceeding 3,500kgs within the European Union will start to be regulated as from the 21st of May 2022.

This change was introduced by Regulation (EU) No. 2020/1055 which forms part of a set of changes to the Road Transport market referred to as Mobility Package I.

As from 21st May 2022, any undertaking that uses LCVs to carry goods for hire or reward between Member States of the EU need to hold a Road Haulage Operator Licence. This is the same type of licence which currently applies to the carriage of goods by road using heavy goods vehicles. More information about this licence can be found here.

Transport Malta invites undertakings – sole traders, companies or other businesses – who use LCVs to carry goods between Malta and any other EU Member State, or between other EU Member States, to apply for such licence.

Undertakings who fail to obtain such a licence will not be able to continue their operations beyond the above-mentioned date.

In order to do so, you are invited to contact the Road Transport Licensing Unit by:

Visiting at Transport Malta’s offices, from Monday to Friday between 07:30 and 14:00 (kindly call before for an appointment), at:

Level 0, A3 Towers, Triq l-Arkata, Paola.

Phone on: Freephone: 80072393 (from landline only); Direct: 25555190

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SME Chamber and Malta Enterprise organises a Webinar on grants for cost saving investments

Malta Enterprise offers 3 schemes related to sustainability

The Malta Chamber of SMEs and Malta Enterprise organised a webinar about the available grants for cost saving investments.Malta Enterprise CEO Mr Kurt Farrugia welcomed all participants during his opening speech, while Ms Nadia Grech, Head, SME Regeneration and Sustainability at Malta Enterprise explained further about the following schemes:

-Change to Grow

-Smart and Sustainable Investment Grant,

-Investment Aid for Energy Efficiency Projects

Although all schemes qualify for cost saving investments, the assistance covered varies. The Change to Grow Grant covers up to Euro 10,000 which is split between advisory and implementation. Businesses requiring a large investment, can opt for the Smart and Sustainable Investment Grant which covers up to Euro 50,000 grant with an additional Euro 20,000 in tax credits if the projects meets certain criteria. One may opt to benefit from the advisory services covered under the change to grow and the grant under the smart and sustainable grant scheme for the implementation phase.

Finally larger investments requiring more resources such as the Investment in substitution or upgrading of equipment and installations to reduce energy consumption or the Renovation or upgrading of equipment of existing installation for heating (or cooling) systems can fall under the Investment Aid for Energy Efficient Projects which covers grants up to 15 million and covering up to 50% of the investment cost.

During the Webinar, members where provided with case studies, in order to understand better how the above schemes can be successfully applied, thus ensuring more cost saving initiatives for the benefit of their business.

Masterclass on Financial Capability and Financial Services

The Malta Chamber of SMEs in collaboration with GEMMA, will be organising a second masterclass for businesses’ specifically dedicated on Financial literacy and Financial Capability. 

 

The event will be held on Tuesday 23rd February 2022 at 14:00 – 16:00. 
The modules covered during this session are:
  • Financial Capability – Delivered by HSBC
  • Financial Services – Delivered by Deloitte

 

The session is Free of ChargeAn electronic certificate of a attendance can be provided upon request.
 

New amendments to the Companies Act

Recently, MBR published a notice on the changes coming into force through amendments to the company Act.

The Registrar of Companies are reminding business owners that some of the Amendments to the Companies Act (Act LX of 2021) are in force, primarily the provisions related to the use of digital tools and processes as well as the appointment and the holding of the office of directors

More specifically, the following have been highlighted:

  • Contents of the memorandum and articles of the Company (Article 69)

  • Appointment of Directors (Article 139)

  • Statutory company directorship reporting requirements (Form K & Form K(1)

  • Disqualification of Directors (Articles 140 & 142); and

  • Legislative Powers of the Registrar (Article 401)

Further detailed information can be obtained from the notice issued by the Malta Business Registry at https://mbr.mt/2022/01/28/legislative-amendments-introduced-by-act-lx-of-2021/ and in the case of difficulty you can contact MBR’s Legal and Enforcement Unit on .

Malta Chamber of SMEs meets Identity Malta’s new CEO Mr Mark Mallia

The SME Chamber looks forward to see the cooperation between both sides increase

Malta Chamber of SMEs CEO Ms Abigail Agius Mamo and Head of Policy Mr Andrew Aquilina met Identity Malta Agency new CEO Mr Mark Mallia.

The SME Chamber congratulated Mr Mallia for his new role and discussed further cooperation between both entities.

Ms Agius Mamo said that the SME Chamber looks forward to see the cooperation between both sides increase in the interest of all stakeholders involved and to have a healthy employment market.

The Malta Chamber of SMEs has a long-standing working relationship with Identity Malta. With the joining of the new CEO, the Chamber of SMEs looks forward to continue building this relationship and to enhancing the service offered.

The SME Chamber believes that whilst recruiting TCNs has become a necessity, it is still an extremely lengthy and costly experience for everyone. It is therefore in everyone’s interest to improve on this experience.

The SME Chamber and Identity Malta will be maintaining an open channel of dialogue in order to address issues that arise and to simplify the process wholistically and making Malta’s dependence on TCNs more sustainable for the country as a whole.