Until a few weeks ago Malta was going through an unprecedented boom – it was unimaginable then that now Government has to intervene to assist businesses stay afloat as more concern about the effects of business caused by the Corona virus escalates.
Up to now Government has announced two major schemes one to assist with cash flow by offering tax deferment by two months on income tax, VAT and social security contributions and another scheme in order to incentivise telework.
Malta Enterprise, which is the Government’s Corporation administering these schemes on behalf of Government, has also announced the extension of its main schemes – the Micro Invest Scheme for self-employed, a scheme from which last year over 3,000 businesses benefitted with more than €32.7 million in tax credits and its Gozo Transport Scheme, which scheme is extremely important for Gozitan businesses selling their wares in Malta.
Up to know, these schemes where well received by businesses which have been keeping ME’s customer care officers quite busy. ME is also using the services of its subsidiary Business First, the latter being in constant touch with self-employed individuals who are feeling the pinch.
Up to now 882 businesses have asked for further information, 221 made contact via e-mail whilst another 661 contacted 144; and 9 have already applied for assistance under the teleworking scheme.
These measures along with the application process and conditions are available on a dedicated website covid19.maltaenterprise.com
Apart from these two initiatives, Malta Enterprise will continue its exercise of client outreach in order to continue to take stock of the situation. Malta Enterprise continues to assist companies through its various support measures as can be found on maltaenterprise.com/support.
Government is well aware that Covid-19 is inevitably going to hurt a number of businesses, that until a few weeks ago where growing at such a fast rat that their main problems was keeping pace with growing demand and finding employees. Now that the situation has changed, Government is continuing its open dialogue with both representatives of business and employees and will continue to listen and try to assist wherever possible.
Clients are encouraged to either call 144, send an email on [email protected] or to directly contact their Client Relationship Officer at ME.