The Malta Independent 25 February 2020, Tuesday

Brexit: Economy Ministry reiterates constant support for businesses

Friday, 31 January 2020, 17:20 Last update: about 25 days ago

The Economy Ministry said it is reiterating its constant support towards businesses in Malta that are now facing  post-Brexit.

The Brexit agreement came into force on Friday, bringing about a transitory period.

“This will partially be done through theBrexit Support scheme administered by Malta Enterprise which is available to registered SMEs carrying an activity in Malta. The undertakings that have a significant dependency on imports and exports from the British market may be awarded support covering up to 50% of costs incurred for advisory services acquired from a professional service provider,” the ministry said.

The advisory services may address strategic and operational challenges that the business might be facing as a result of Brexit. This may include, but not limited to financial planning, sourcing of goods and materials, handling of customs and logistics. Such advisory services shall not be related to the business’ usual operating costs such a routine tax or legal consultancy services. 

A business interested in benefiting from this scheme must apply with Malta Enterprise prior to the commencement of the advisory service through the Corporation’s client portal. It is important that the applicant provides comprehensive information to enable the Corporation to justify the need for support.  

Minister for Economy, Investment and Small Businesses Silvio Schembri reiterated his commitment to support SME’s in this ever-evolving scenario. ‘Through this incentive scheme SMEs will be provided with the necessary tools to adapt within a post-Brexit context. As a Government, we are determined to pursue with our long withstanding relationship with Great Britain and collaborate in various sectors for the benefit of both countries’ said Minister Schembri.

 Further information on the scheme can be found on www.maltaenterprise.com/support. One can also get in touch with Business First on 144 for guidance and support.

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