SME Chamber wins best business supporter award for second consecutive year

The Malta Chamber of SMEs has once again won first prize at the  National   Supporting Business Awards under the remit of the Ministry for the Economy.

The Award was won on the basis of supporting businesses in their sustainable  transition and support environmental aspects such as the circular economy, climate neutrality, clean energy and resource efficiency.

The SME Chambers’ project is called ‘A Fair Deal for Maltese Businesses’.

The Green Deal, which was first announced in December 2019, came with a very innovative concept. The European Commission (EC) immediately stated that the Green Deal is very ambitious and will require a big change in the private sector.

Yet, The EC also said that this transition would be a fair and just one and that it will ask the Member States to ensure that nobody is left behind.

The SME Chamber has risen to this great challenge and has taken it upon itself to ensure that, with the collaboration of many stakeholders, Malta would not just be on the forefront of the Green Deal but would also champion the theme and impact of having a just and fair transition.

By engaging and collaborating with different stakeholders the SME Chamber is aiding in the implementation of new EU targets and requirements from a small business perspective and ensuring that these small businesses are at the heart of every strategy related to the green deal.

Malta Enterprise recognised for promoting entrepreneurial spirit

Malta Enterprise, the country’s economic development agency was recognised for its work in ‘Promoting the Entrepreneurial Spirit’ at this year’s National Supporting Business Awards 2022.

The award was presented to the government entity for its work on the national start-up initiative ‘StartinMalta’.

Startups businesses may be defined as early business projects and might be eligible to receive financial aid including via Malta Enterprise.

Early-stage Startups may qualify for a €10,000 grant through Malta Enterprise’s Business Start Scheme for work on developing their business plan. This can then be expanded to a total of €200,000 grant in the subsequent stages whereby assistance can also part-cover wage costs. Another scheme Startup Finance  - is a repayable advance that may support highly innovative  start-ups and scaleups with up to €800,000 that will be repaid upon profitability.

‘Start in Malta’, the governmental vision for encouraging more businesses to startup their projects in Malta was set out back in May 2021.

The team at ME have expanded their endeavour to synergise, visualise and improve Malta’s startup offering encouraging local and international entrepreneurs to explore Malta as a potential location for business.

This has been evidently seen through the organisation of the Startup Festival in November 2021, ME’s support to the inaugural edition of Shark Tank Malta and the attraction of the Plug and Play Tech Centre accelerator onto the island.

Kurt Farrugia, CEO of Malta Enterprise, stated “We are humbled and honoured by this award which symbolizes the work implemented to attract more startup business projects to our island. Startups are a means of energising our economy and bringing innovators and new talent to Malta.”

Meanwhile the second edition of Startup Festival Malta will be taking place on 13 and 14 October 2022. Registrations for the event and the business-investor matchmaking tool will soon be open for all interested to participate.