Miriam Dalli launches restart incentive schemes for businesses

Last Updated on Friday, 9 July, 2021 at 1:55 pm by Andre Camilleri

In a bid to strengthen the economic activity of businesses in Malta and Gozo, Minister for Energy and Enterprise Miriam Dalli launched a number of other initiatives for businesses on Friday.

The schemes announced today, together with the Malta Enterprise, continue building on the support and incentives announced a few months ago. A total of €20 million are being allocated to this sector.

During a press confererence, Minister Dalli said that “to assist businesses in a post covid-19 scenario, we are inviting businesses to resort to these schemes, with the aim of diversifying and developing their operations into a more digital and sustainable one.”

Through the restart incentive scheme, businesses will be able to avail themselves from a number of benefits. The scheme will finance advisory costs up to €5,000. This could be extended to €10,000 to support the implementation phase of the new business initiative. Entrepreneurs will be offered the possibility to engage professional business advisory.

“This relates to operating costs including those related to marketing, hiring as well as services related to recruiting new employees,” Dalli remarked.

Another scheme is that of the Change to Grow incentive. The Malta Enterprise will be funding consulting programs for companies to renew their business models and be more competitive.

While before this aid reached up to €5,000, the Malta Enterprise doubled the aid intensity cap to €10,000 for implemented projects. The criteria has also been widened to include self-employed and micro enterprises.

A list of approved consultants can be found on the Malta Chamber of Commerce Enterprise and Industry website. Other consultants may still qualify.

Business First will also provide guidance on schemes and applications.

Malta Enterprise CEO Kurt Farrugia said that the Malta Enterprise is focusing on working on two important points. “Firstly, we are working on speeding up the process of paying Covid reduction schemes, such as One Time Grant and soon even the rent scheme. Secondly, we are also working on launching incentives for our businesses to turn a new page and find professional support.”

Meanwhile, the Malta Enterprise has announced that it will start paying One Time Grant aid to eligible companies, while encouraging others that have received an email with an invitation to submit their application.

For more information, one can visit https://covid19.maltaenterprise.com/?regenerating-the-maltese-economy, send an email on regeneration@maltaenterprise.com or call on 144.

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