The Mini Budget 2020 announced on 8 June 2020, by Malta’s Prime Minister Dr Robert Abela and Minister of Finance Profs Scicluna contained various measures to assist businesses and households alike in this post-covid-19 scenario.
In this blog we will consist of those measures consisting of incentives and grants to businesses.
The €800 grant has been extended until September for tourist accommodation, travel agencies, language schools, air transport and organizers of events. Other sectors will see a reduction of the wage supplement to €600.
For the summer months of July, August and September, government will be paying 50% of commercial utility bills, capped at €1,500 per applicant.
A €2,500 grant will be given to those entities falling under the most covid-19 hit sectors for the months of July, August and September.
Re-engineering of business models
€2.5 million will be allocated to help A grant of up to €5,000, managed by Malta Enterprise, will be available to assist businesses adapt their business model in the post-covid-19 ear.
Skills Development Scheme
The sum €5 million has been allocated to the Skills Development Scheme, to support in-house training and knowledge transfer. This scheme is operated by Malta Enterprise.
Trade Fairs Refunds
Through the Development Bank and Malta Enterprise, businesses which had been set to participate in international trade fairs will be given an 80% refund.
Construction industry operators seeking to modernise their plant and equipment will be eligible for an assistance grant of up €200,000 per application.
A budget of €5 million budget is earmarked for businesses seeking to advertise Maltese products both locally and abroad.
Payment for licenses to the Trade Department and the MTA will be waived. This will affect hotels and restaurants, hawkers, ironmongers and tourist guides.