Malta made available various incentives to support all companies, including start-ups as well as existing companies. Cash grants, tax credits or financing at preferential interest rates may be obtained. It is possible to avail of these grants for direct investment for the acquisition of buildings, machinery and equipment, recruitment of employees, establishment of e-commerce sites, preparation of business plans and research and development projects.
Some of these instruments are financed or co-financed by the European Union through the European Regional Development Fund which is part of the so-called “Structural Funds”.
Deadlines have now been rescheduled until the end of June 2021 on a monthly basis. In particular, an extension has been established for those funds intended to support:
- Business growth.
- Diversification and innovation of small and medium-sized enterprises.
- Internationalization of small and medium-sized enterprises.
- Advisory services for small and medium-sized enterprises.
Around EUR 51 million has been allocated to these schemes to provide businesses with the support they need. The Business Enhance ERDF Grant Schemes, includes a number of programmes to support the above initiatives to maximise investment and growth potential as well as to increase the competitiveness of businesses.
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