Every business must make sure that its growth prospects are clear and that the resources needed to achieve these goals are readily available. However, the increasing uncertainty in the market environment may hinder businesses' ability to secure financing, ultimately affecting their capacity to implement certain strategies. These uncertainties are particularly worrying for some firms.
Recognising this, the Maltese Government, with support from the European Union, has emphasised the importance of supporting enterprises, especially small and medium-sized ones. This support through the Malta Business Enhance Grant Schemes 2024, aims not only to facilitate growth but also to encourage the adoption of digitalisation, sustainable technologies, and practices. These schemes, outlined in detail below, are designed to help SMEs achieve sustainable growth and become more competitive, innovative, and resilient to market challenges.
Digitalise your Business
This incentive seeks to assist businesses through non-repayable grants to part-finance investment to digitalise their operations, hence improve their resilience, efficiency, productivity, and customer experience by addressing new digital capabilities and digitalised processes such as product design and engineering, procurement, supply chain/distribution and after sales.
Digitalise your Micro Business
This incentive seeks to assist micro enterprises through non-repayable grants to part-finance investment to digitalise their operations, hence improve their resilience, efficiency, productivity and customer experience by addressing new digital capabilities and digitalised processes such as product and process design and engineering, procurement, supply chain/distribution and after sales.
Business Reports for SMEs
This grant scheme seeks to support SMEs through the provision of non-repayable grants in the form of a lump sum to part-finance a business report procured from external registered consultancy service providers, and which are independent and unrelated to the beneficiary undertaking.
SME Enhance (GBER)
This incentive seeks to support SMEs through non-repayable grants to part-finance investment towards expansion, diversification, innovation of the operations and initial investment, aimed at potentially improving the efficiency of the enterprise.
SME Enhance (de minimis)
This incentive seeks to support SMEs through non-repayable grants to part-finance investment towards expansion, diversification, innovation of the operations and initial investment, aimed at potentially improving the productivity of the enterprise.
Start-Up Enhance
This incentive seeks to support startups through non-repayable grants to part-finance investments in tangible and intangible assets contributing to improve the productivity of the enterprise.
At Fairwinds Management and Accounting Services, through our team of accountants and grant specialists, we can assist clients to secure grants through various measures.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.