Supporting SMEs through the Brexit Support scheme

In view of the Brexit agreement that is about to come into force, consequently bringing about a transitory period, the Ministry for Economy, Investment and Small Businesses is reiterating its constant support towards businesses in Malta that are now facing postBrexit.

This will partially be done through the Brexit 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 advisory services may address strategic and operational challenges that the business might be facing as a result of Brexit. This may include, but is 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 as 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.

The Minister for Economy, Investment and Small Businesses Silvio Schembri reiterated his commitment to support SMEs in this everevolving 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 our long-standing relationship with Great Britain and collaborate in various sectors for the benefit of both countries,” Minister Schembri said.

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