Malta Chamber of SMEs

MDB issues new scheme with revised collateral requirement after the Malta Chamber of SMEs highlights difficulties

Posted on 23.09.202023.09.2020 by SME Chamber

Following problems flagged by members on accessing the MDB loan scheme, the Malta Chamber of SMEs discussed the matter with the Parliamentary Secretary for Financial Services and the Digital Economy, Hon Clayton Bartolo and discussions ensued. The revised system has now been given green light by the European Commission and the first local commercial bank has now signed up to MDB’s Small Loans Guarantee Scheme (SLGS), with a number of other commercial banks soon to follow suit.

The MDB COVID-19 Small Loans Guarantee Scheme (SLGS) is intended to support smaller businesses in taking out loans under the MDB COVID-19 Guarantee Scheme (CGS) without the need to provide high levels of soft collateral in the form of personal guarantees.

Through the SLGS , the MDB provides additional protection to the banks by subordinating its rights to those of the banks in respect of the 10% of the loan which is not covered by the 90% guarantee under the CGS. In return, the MDB is obliging the banks not to request soft collateral in excess of 20% of the loans extended to SMEs.

The SLGS is therefore a carefully thought equitable solution that addresses the concerns of smaller businesses regarding the high levels of soft collateral requested by banks (normally in the form of personal guarantees), while giving due regard for the risks faced by the intermediary banks.

The SLGS applies to loan contracts of up to €250,000 that are concluded under the scheme as from 29 July 2020. Existing loan contracts of up to €250,000 that were concluded before this date are also eligible to benefit from this new scheme provided that the banks amend these contracts to reflect the new conditions.

The MDB is holding discussions with the banks intermediating the CGS in this regard.

The list of banks signed up to SLGS is updated on a daily basis on the MDB website on this link.

Online workshop about Consumer Law for SMEs

Posted on 23.09.2020 by SME Chamber

On October 5, 2020, from 10:30am to 12pm, EUROCHAMBRES, in collaboration with BEUC and SMEunited is organising a Stakeholders’ workshop in the framework of CONSUMER LAW READY project.

Consumer Law Ready (www.consumerlawready.eu) is a specialist training programme for SMEs, supporting them in complying with the latest EU Consumer Laws. The training enables you to gain knowledge of the important aspects of Consumer Law, which will help to improve customer service and increase consumer trust in your business.

This event will take the format of a panel with Q&As along the following objectives:

discovering more about the programme and its opportunities, getting feedback on how to further develop it;
sharing views of SMEs, consumers and EU representatives on what COVID 19 means for entrepreneurs;
discussing about possible responses to the current crisis and suggesting instruments for dealing with
informing about upcoming initiatives in the field of consumer law: Consumer Agenda; Empowering consumer for the green transition; Review of Consumer Credit Directive; Review of General Product Safety Director.

Please, find here the programme of the workshop.

For accessing the meeting, please REGISTER HERE:

Registrations are open until September 30, 2020.

After registering, you will receive a confirmation email containing information about joining the webinar.

For more information, please write to

State of the Union: Five key takeaways from Ursula Von der Leyen

Posted on 17.09.202017.09.2020 by SME Chamber

Key points from von der Leyen’s state of the union speech

EU chief Ursula von der Leyen promised a new target for cutting greenhouse emissions in Europe, delivering her first landmark State of the Union address on Wednesday.

The European Commission President said Europe must protect lives and livelihoods amid a resurgence of the coronavirus pandemic.

Outlining the Commission’s priorities for the coming year, she also addressed human rights, migration, Brexit and tomorrow’s technology.

Key points from von der Leyen’s state of the union speech

On greenhouse emissions, von der Leyen set a reduction goal of 55% by 2030, significantly higher than the current target of 40%.

She promised to protect lives and livelihoods, stabilise the economy and rally the global response to the coronavirus pandemic.

The Commission president proposed building a stronger European Health Union with various measures to strengthen cross-border coordination.

Von der Leyen said there would be a new approach to migration with a “new pact”, calling on member states to “step up too” and take responsibility.

The president promised a more assertive EU response to global events and not to compromise on human rights, discrimination and hate.

The EU will take more leadership in the digital transformation, especially on data, technology and infrastructure.

On Brexit, she had a warning for the UK over the agreed and ratified divorce agreement: “It cannot be unilaterally changed, disregarded or disciplined. This is a matter of law and trust and good faith.”

The speech came at a time when the challenges facing Europe and the European Union are enormous. The coronavirus pandemic is continuing to cause havoc across the continent, threatening a major health and economic crisis in the winter.

Source: Euronews

Major Maltese Company Bans Donald Trump’s Merch Store

Posted on 16.09.202016.09.2020 by SME Chamber

Darmanin also pledged to donate all revenues earned from the Trump-Pence account, as well as an extra €50,000, to fight racism and injustice.

Major Malta-based analytics company HotJar has banned Donald Trump’s merchandise site from using its services on the grounds that the US President is promoting a “racist and hateful” campaign.

Thousands of websites make use of the service, including the Donald Trump-Mike Pence campaign, as well as the Republican Party, has made use of HotJar in a crucial time ahead of November’s presidential election.

David Darmanin’s, Hotjar CEO facebook post

“We recognise that this decision may bring us some backlash, and it may result in divided reactions among our community—but we’re willing to put ourselves in an uncomfortable position to stand by our values,” Darmanin said.

He argued that Donald Trump’s actions targeted marginalised groups while his political slogans “Make America Great Again” and “Build A Wall” have become synonymous with far-right groups in the U.S.

“We will happily work with anyone who aligns with us against racism and discrimination,” he said, noting HotJar would be open to working with the Republican Party in the future should circumstances change.

Hotjar CEO, David Darmanin during the 2019 SME Conference

“The campaign and the Republican Party today stand behind a candidate who has made statements that promote racism, division, and discrimination.”

“Therefore, we believe that the values displayed by this organization as a customer of Hotjar are clearly not aligned with our values as a company, and in the spirit of living our value of working with respect, we have decided to take action.”

HotJar also updated its ‘Acceptable Use Policy’ that disallows users that directly condone or promote hate as well as sites that support organisations, platform or people that condone such behaviour.

Mr Darmanin participated during last October’s SME Conference organised by the Malta Chamber of SMEs.

Hotjar CEO, David Darmanin during a fireside chat with Malta Chamber of SMEs CEO Ms Abigail Mamo during the 2019 SME Conference

Source: LovinMalta.com

Online conference reaches over 22,000 online viewers – New Business Support Covid Measures Announcements

Posted on 15.09.202015.09.2020 by SME Chamber

The Prime Minister participated in a 45 minutes fireside chat with the Malta Chamber of SMEs CEO Ms Abigail Mamo

Prime Minister Robert Abela during a fireside chat organised by the Malta Chamber of SMES

On Thursday 10th September the Malta Chamber of SMEs organised an online conference with the participation of high level officials, including Hon. Prime Minister Robert Abela, the Minister for Economy, Investment and Small Businesses Hon. Silvio Schembri, Malta Enterprise CEO Mr Kurt Farrugia and Business first CEO Ms Marika Tonna. The conference was followed by a staggering, over 22,000 online viewers on the Malta Chamber of SMEs facebook page, Malta Enterprise facebook page and Prime Minister Robert Abela’s facebook page.

Click here to watch the Online Conference

The Prime Minister participated in a 45 minutes fireside chat with the Malta Chamber of SMEs CEO Ms Abigail Mamo in which he announced that:

Government will continue helping businesses with wage supplements beyond October – An updated scheme will be announced during October’s Budget.

The Prime Minister confirmed that he agreed that the Government will be working to boost consumption, he did not exclude a new voucher scheme will be launched

Repayment of Tax Deferrals and Moratoria on Bank Loans will be facilitated through prolonged payment schedules and the maturities of loans will lengthen

Malta Enterprise CEO Mr Kurt Farrugia and Business 1st CEO Ms Marika Tonna also made the following interesting highlights for business:

Sectors that felt the impact of Covid later will also be helped

Upcoming next are the Business Re-Engineering Scheme and the MicroInvest Tax Credit into cash

Future looking priority areas of support will be Green Business, Digital Investments by Businesses and Remodeling the Business Model for the new era

Malta Enterprise will be incentivising businesses to stop and think on a new economic model not based on mass tourist consumption, including higher quality investment in products and services

Malta Enterprise is working on strong Start-Up schemes and schemes that will address the gaps in the banking sector to sustain Access to Finance for SMEs

Business 1st will be expanding its focus more into Reducing Bureaucracy and next year launching an online one-stop-shop portal for businesses

During this online conference, Mr Karl Herrera, Chief Officer – Incentives Development Evaluation and Monitoring at Malta Enterprise presented an overview of the Malta Enterprise Support Measures. Mr Herrera’s full presentation may be downloaded here.

Paul Abela confirmed as President of the Malta Chamber of SMEs

Posted on 14.09.202014.09.2020 by SME Chamber

Paul Abela has been confirmed as Malta Chamber of SMEs President for the year 2020-2021.

During the Annual General meeting Mr Abela thanked the council for their support. He mentioned that while 2019 was a successful year for business, 2020 has been very difficult for almost all members of the SME Chamber because of all the challenges that Covid-19 has brought about.

Mr Abela stated that during this coming year he will continue working on strengthening the organization and building on over 70 years of success that the Chamber of SMEs has achieved. He mentioned the rebranding exercise of the SME Chamber and explained that this has already given great results, in visibility, effectiveness and in memberships.

Mr Abela thanked the organisation’s CEO, Ms Abigail Mamo and the SME Chamber Staff for their hard and dedicated work and stated that the organisation was never as professional and held such a high profile as it did today.

‘SMEs today know that they have a home and that we will be with them through thick and thin. The positive feedback I receive from our members is greatly encouraging and assures me that we are on the right track’, concluded Paul Abela in his first address to the SME Chamber Council.

Malta Chamber of SMEs Annual General Meeting 2019-2020
Left to right (Philip Fenech Vice-President, Paul Abela President, Abigail Mamo CEO and Marcel Mizzi Vice-President

Mr Abela was elected President for the first time in 2006 and since then he worked on strengthening the position of the SMEs and bringing their interests forward on the agenda.

The 5 officers elected as Vice-Presidents are: Philip Fenech Vice President – policy and strategy; Marcel Mizzi Vice President – finance and administration; Sergio Camilleri Vice President – sectors; Michael Galea Vice President – districts and localities and Noel Gauci Vice President – training and development; Mr Chris Vassallo was elected for the first time as Vice President – international relations.

Rent refund application process begins – Malta Enterprise

Posted on 14.09.202014.09.2020 by SME Chamber

More than 16,000 businesses currently receiving the wage supplement have received the application for the rent refund.

Through this measure, businesses will be receiving € 2,500 in aid. Businesses operating from more than one location and employing more workers can benefit up to € 7,500.

The aim of this incentive is to reduce the burdens on businesses and the self-employed that have been encountered in the first months of the COVID-19 pandemic.

Malta Enterprise’s initial email provides clients the link for an online application. The application is divided into four elements:

1. The presentation of a lease contract valid before 9 March 2020.

2. Copy of the last rental receipt (including part of 2020).

3. To provide information on any financial grants that the business has already received from different Government departments to date

4. ‘Undertaking in difficulty’ declaration form.

All those who have benefited from the COVID Wage supplement are also eligible for this scheme.

The process follows the same method of interaction that customers have already become accustomed to through the wage supplement. If the steps are done correctly, then the applicant will only have to wait for the confirmation emails (Approval) from Malta Enterprise. After accepting this email the applicant receives the money directly into his bank account.

Applications will be accepted until 9^th October 2020

This measure is the latest in a series of measures being administered by Malta Enterprise specifically part of the Economic Regeneration package. Apart from this process, since March, Malta Enterprise has also been administering the Wage Supplement scheme, incentives in connection with Telework equipment, compensation to employers for quarantine leave, as well as the refund on the electricity bill.

More information can be obtained from the dedicated site: regeneration.maltaenterprise.com or by calling 144.

Source: Malta Enterprise

350 plastic bottle return machines to be stationed around Malta and Gozo – SME Chamber representing retailers

Posted on 14.09.202014.09.2020 by SME Chamber

“Malta Chamber of SMEs is part of the consortium that will be running the scheme, representing retailers”

“Bottle return scheme to be up and running within 14 months”

A total of 350 reverse vending machines are going to be stationed around Malta and Gozo within the next 14 months, Environment Minister Aaron Farrugia announced earlier today.

The reverse vending machines will allow people to return used plastic drinks containers in return for 10c per bottle. The Malta Chamber of SMEs will be part of the consortium that will be running the scheme. Malta Chamber of SMEs President, Mr Paul Abela was present and signed the agreement on behalf of the retailers.

The aim is for 85% of plastic bottles used in Malta to be recycled.

A licensing agreement was signed with the consortium of importers, producers and retailers and the Resource Recovery and Recycling Agency (RRRA).

Minister Farrugia said the agreement will also lead to a new plastic bottle recycling centre being built at Hal Far as part of a €15 million investment in the new scheme. The Environment Minister said the scheme would help Malta hit its recycling targets.

RRRA CEO Anthony Rizzo said he hoped the scheme would boost the way in which both producer and consumers become more responsible when consuming and disposing of reusable plastic.

In tandem with the scheme, the government will also be forging ahead with plans to gradually phase out single use plastics.

From January 1, importation of many types of single use plastics will be banned. The following year, the sale of single used plastics will be banned, Farrugia said.

Source: timesofmalta.com

Malta Chamber of SMEs meets Opposition delegation to discuss the 2021 Budget proposals

Posted on 11.09.202008.10.2020 by SME Chamber

“Budget 2021 must guarantee a financial package that will see businesses through the Covid period and beyond”

The Malta Chamber of SMEs met a delegation from the Opposition to discuss the proposals for the 2021 Budget.

Malta Chamber of SMEs President Mr Paul Abela said that earlier this week the SME Chamber 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.

Paul Abela mentioned that 2020 is nothing like what anyone expected and will be remembered as an exceptional year for all the wrong reasons.

Mr Abela said that Budget 2021 must guarantee a financial package that will see businesses through the Covid period and help them rebuild their strength to be able to sustain the Maltese Economy independently again.

Paul Abela said that the Wage Supplement, which proved to save thousands of jobs across Malta and Gozo, was a proposals of the SME Chamber and implemented following our insistance.

Mr Abela insisted that the SME Chamber’s Budget 2021 targets businesses and consumers alike, who depend on each other now, with the effects of Covid, more than ever. Mentioning mainly the Reduction of Income tax on Business Trading Income, Covid Wage Supplement to Extended till March 2021 to give businesses pradicability, Re-launching the Voucher Scheme and Redistribution of another round of Eur100 vouchers and Extending MicroInvest benefits amongst other important proposals.

The delegation from the Opposition, composed of Hon. Mario de Marco, Hon. Claudio Grech, Hon. Hermann Schiavone and Hon. Kristy Debono stated that the role of Malta Chamber of SMEs throughout Covid-19 was very important and influential.

The delegation acknowledged the work behind the SME Chamber Budget proposals and said that the Opposition will take on board the SME Chamber budget proposals which will eventually be included in the Opposition Pre-Budget Document.

Abigail Mamo, CEO of Malta Chamber of SMEs and Philip Fenech, Vice President of the Malta Chamber of SMEs were also present for this meeting.