Running a business is not an easy job, no matter if it’s a company, a partnership or as a self-employed. There are as many up and downs, or better, many satisfactions and challenges alike. Take for example, the COVID-19 pandemic that no one was expecting. This has brought with it many challenges and headaches for everyone… will I cope with expenses when revenues are low? Will I manage to cover my employee’s salary this month or should I let them off? These are questions that continuously pop to one’s mind in time of difficulty.
In this article today we will briefly go through funding and grant schemes available locally in Malta for your business to get a much-needed financial help in times of crisis. There are many opportunities across various industries and business activities, and no matter how small or big your setup is. Such funding can cover a range of expenses related to investments, expansion, development, employment innovation, research, and family businesses. Of course, there are specific criteria for eligibility which are set out on the different funding schemes.
MicroInvest Scheme – Malta Enterprise
A very popular funding scheme since 2016 the MicroInvest Scheme by Malta Enterprise is aimed to assist small and medium-sized businesses to invest, improve, and expand their enterprise by providing a tax credit based on eligible investment. Click here for more information.
Business Enhance ERDF Grant Schemes
Another popular scheme, the Business Enhance ERDF Grant Schemes for micro, small and medium-sized enterprises supporting investment projects that secure sustainable business growth. Eligible enterprises can apply for one of the six specific Business Enhance ERDF Grant Schemes, for e-Commerce, Start-up Investment, SME Growth, SME Diversification and Innovation, SME Internationalisation and SME Consultancy Services. Click here for more information.
Family Business Office Incentives
The Family Business Office Incentives instead is oriented towards family businesses established in Malta and recognized under the Family Business Act of the Laws of Malta. Incentives revolve around bank financing, fiscal incentives, transfer of immovable property and shares interest, advisory services, education and training, and governance incentives.