Opportunities for EU funding for local businesses

Government, through EU funding, will be able to provide more opportunities for small and medium-sized enterprises (SMEs) to enhance their sustainability, digitalization, and resilience, a statement read.

Parliamentary Secretary for European Funds Chris Bonett addressed a conference entitled “Navigating EU Direct Funds – Unlocking Financial Opportunities for Business,” organized by the Malta Business Bureau (MBB) and the Malta Council for Science and Technology (MCST) under the Enterprise European Network (EEN) project.

The conference focused on the opportunities for financial support that the European Union offers to SMEs.

Parliamentary Secretary Chris Bonett said that despite the challenges faced by the country in recent times, Malta has succeeded in adapting, innovating, and growing thanks to the collaboration between the government and the private sector.

“The strength of the economy lies in creating significant opportunities for citizens. Through the use of EU funds, SMEs have the chance to benefit from financial support for employee training, technological improvement, and expanding not only locally but also internationally,” Bonett said.

He said that the two key drivers of a strong economy are digitalization and sustainability.

“Therefore, it is crucial that businesses, with the assistance provided by the government and European funds, integrate these factors into their practices to contribute to the longterm economic strategies of the country,” Bonett said.

MBB President Alison Mizzi said that while many businesses have good projects and ideas that could benefit from EU funding, they often struggle to identify the specific fund they need.

“We are here to provide the necessary advice to these businesses to implement their ideas and connect them with the responsible parties who can assist them,” Mizzi said.

Chairman of MCST Tonio Portughese also spoke at the conference, saying that innovation, digitalization, and sustainability are the key focal points emphasized by the European Union.

“MCST has a specialized department, the Framework Programme Unit, which serves as the primary contact point for the Horizon Europe fund, with a budget of €95.5 billion,” Portughese said.

He said that the MCST is committed to providing all necessary support for research and innovation, which are crucial sources of economic growth.