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Category: Articles

Malta Chamber of SMEs meets Prime Minister Robert Abela ahead of the Budget 2021

Posted on by SME Chamber

SME Chamber proposals address both the short and long term

As the Budget for 2021 is-set to be announced on the 19th of October, the Malta Chamber of SMEs today met Prime Minister Robert Abela as part of the pre-budget consultation.

During today’s meeting with Prime Minister Abela the SME Chamber presented its full set of 19 Budget proposals that mainly focus on mitigating the impact of Covid 19 by sustaining businesses, and also support businesses in going into viable investments.

SME Chamber President Paul Abela said that the SME Chamber proposals address both the short and long term. The SME Chamber wants to see Covid support measures extended. These include the wage supplement till March and a new round of the voucher scheme. Important fiscal proposals include lowering income tax on the first Eur 100,000 in profit that a business makes and lowering VAT to make goods and services more affordable for consumers.

Mr Paul Abela emphasised that Malta’s Economic Strategy must change and Libya is one project that the SME Chamber is working on. Libya has always been important for Malta and it is one of the doors that will unlock our economic recovery. Libya is a country with 7 million consumers and investment opportunities are ample.

Prime minister Robert Abela said that when implementing the Moneyval recommendations, the Government will not be hurting businesses.

The Prime Minister added that the Government is looking at opportunities for Maltese businesses in Libya, and explained that during last week’s European Council he had referred to the need for Libya to be given the opportunity to build its economy, with Maltese and even European businessmen being able to invest.

SME Chamber congratulates Dr Bernard Grech on being elected leader of the opposition

Posted on by SME Chamber
Photo: Netnews.com.mt

Following last Saturday’s election and today’s swearing-in as Opposition Leader, the Malta Chamber of SMEs congratulated Dr Bernard Grech.

The Malta Chamber of SMEs said that it looks forward to meet Dr Grech to initiate discussions with him as leader of the opposition, especially on the current Covid situation and recovery plans for SMEs.

The Malta Chamber of SMEs also thanked Dr Adrian Delia for his service during the last years.

Robert Abela Says Malta Could Get More Vouchers

Posted on by SME Chamber

Malta’s Chamber of SMEs has called for a second round of vouchers but with more focus on retail outlets

Residents of Malta could soon receive a second round of government vouchers, with Prime Minister Robert Abela confirming discussions are being held to this effect.

“The first scheme was extremely successful,” Abela told the press yesterday. “Not only did we invest €45 million in our people but this investment prompted more public expenditure, so it had an accumulative effect.”

In the first round of vouchers, people were given €80 to spend at establishments licensed by the Malta Tourism Authority, such as hotels, restaurants and bars, and €20 to spend at a retail outlet or service that was closed as a result of COVID-19.

The scheme, which has been extended to the end of October, was a roaring success, helping keep business afloat.

The Malta’s Chamber of SMEs has called for a second round of vouchers but with more focus on retail outlets.

“Our main principle is to preserve jobs and to keep businesses strong,” Robert Abela said.

Source: LovinMalta.com

Malta SME Week 2020 launched!

Posted on by SME Chamber

The Malta Chamber of SMEs will hold its annual event on Wednesday 18th November 2020

The Malta SME Week 2020 has been launched  with various activities throughout a span of 7 weeks targeting different audiences.

The Malta SME Week is part of the European Commission’s European SME Week events aimed at generating public awareness amongst those people who wish to start a business or are already in business and wish to grow and scale-up their activities. This year, the calendar of events for SME Week will be spread over seven weeks making it possible for businesses to participate in different events.

It is a joint effort with the constituted bodies that support enterprises and this year’s edition will feature a wide range of events targeting different audiences. SME Week ties with the Ministry’s efforts to promote entrepreneurship so that more people, in particular younger ones, consider becoming an entrepreneur as a career option, whilst providing information on national and EU entities assistance to micro, small and medium-sized businesses and also giving recognition to entrepreneurs for their contribution to Malta’s welfare, jobs, innovation, and competitiveness.

During this years Maltaz SME Week the Malta Chamber of SMEs will once again hold its annual conference entitled “The SME Conference – Getting ready for a new era” on the 18th of November. More information will provided soon.

Click here to view the Malta SME Week 2020 programme: SME week programme A4 – Final.

 

EU reconsidering phasing out 1 and 2 cent coins

Posted on by SME Chamber

The European Commission is considering proposing a law to start phasing out the small 1 and 2 Eurocent coins, and round prices off to the nearest 5 cents

The European Commission is once again assessing the use of 1c and 2c euro coins and considering the possibility of following the examples already set by Finland, Netherlands, Ireland, Italy and Belgium by introducing rounding rules or the discontinuation of these two coins altogether.

The commission “will carefully study the economic, environmental and social consequences of introducing uniform rounding rules.

The Malta Chamber of SMEs is in favour of a system whereby the final total bill at the till, not the individual items, would be rounded up or down as necessary to the nearest 5c. Meaning sometimes customers would have a discount of 2c and sometimes an increase of 2c, depending on the case. It is therefore a very balanced approach and something that is many times done for practicality reasons.

The Malta Chamber of SMEs CEO, Abigail Mamo said “the cost of producing and administering these coins outways their value by far. There would be on impact of inflation.”

In Belgium, shops have been obliged to round up or down the total amount of purchases to the nearest 5 cents if the client pays in cash since December 2019. However, paying with 1 and 2 cent coins is still possible.

Rounding just at the point of the final bill would mean the coins could be phased out without retailers having to re-label items and allowing them to offer competitive prices, especially in the price-sensitive world of groceries, she pointed out. Card transactions would, however, still charge the exact amount.

A spokesman for the European Central Bank said there were many ways to phase out the two small coins.

“Ceasing the issuance of 1c and 2c coins would not be likely to have a noticeable impact on inflation, provided that the rounding is done to total payments in cash and to the nearest 5c, as currently applied in some member states,” he noted.

The last time a consultation was initiated was in November 2017.

EY to hold virtual event discussing Malta’s post-COVID-19 future

Posted on by SME Chamber

Future Realised Week will take place over four days from 20th to 23rd October 2020

Former European leaders, futurists, investors, CEOs, academics and NGOs from Malta and the world will gather virtually in October to discuss how Malta can get the next 10 years right.

Future Realised Week replaces what was previously known as the EY Annual Attractiveness Event and will take place over four days from October 20 to 23. It is free to attend and open to all.

Organised by multinational professional services network EY, the event is intended to trigger new ideas, challenge perspectives and explore different possibilities for Malta post-COVID-19.

For more information and to book your free place visit: www.ey.com/mt/futurerealised

Budget 2021 set for October 19

Posted on by SME Chamber

The date of the 2021 Budget has been announced as the 19th October 2020.

The announcement was made on Monday afternoon as a meeting of the House Business Committee, ahead of the first sitting of the House of Representative following the summer recess.

The budget would be announced on October 19, with the Opposition leader’s reply a week later on October 26. The remarks by the prime minister will follow on the next day.

All the financial estimates debates will be held by not later than November 6, with the House meeting twice or three times daily.

Members of the public will not be allowed in the strangers’ gallery in line with COVID-19 restrictions.

Last month, 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.

Source: Timesofmalta.com

Malta Freeport Terminal will close temporally as a sign of respect towards Christ Zahra

Posted on by SME Chamber

Tomorrow, the Malta Freeport Terminal will be closing between 12pm and 4pm as Christ Zahra will be laid to rest

Christ Zahra, a Malta Freeport Employee was killed on the job on Tuesday 29th September

The Malta Freeport Terminal will tomorrow, Tuesday 6th October close temporally as a sign of respect towards Christ Zahra, 36-year old, a Malta Freeport employee who was killed on the job on Tuesday 29th September during a tragic accident when a container fell from a height and hit Zahra whilst he was operating a forklift.

Tomorrow, the Malta Freeport Terminal will be closing between 12pm and 4pm as Christ Zahra will be laid to rest.

Earlier today, the Malta Chamber of SMEs informed the Malta Freeport Terminal hauliers about this temporary closure.

Our thoughts are with Mr Zahra’s family and friends at this extraordinarily difficult time.

Photo: One.com.mt

SME Chamber meets Partit Laburista Economic Forum to discuss new economic ideas

Posted on by SME Chamber

The Malta Chamber of SMEs met Partit Laburista Economic Forum to discuss new economic ideas.

The SME Chamber mentioned the importance of new incentives for SMEs, the SME Chamber 2021 Budget proposals and the economic growth post Covid-19.

The forum is coordinated by MEP Miriam Dalli and Mr Steve Ellul and will draw up a set of policies by year’s end in a project called 100 ideas.

Paul Abela, Marcel Mizzi, Abigail Mamo, Philip Fenech, Michael Galea, Noel Gauci, Chris Vassallo and Fabian Demicoli participated on behalf the SME Chamber during this meeting.