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Grants & Incentives

Business Enhance ERDF Grant Schemes

Businesses may apply for any of the Grant Schemes offered by Business Enhance in the following areas;

01.

E-Commerce

This Grant Scheme is aimed at encouraging and supporting enterprises to increase their competitiveness by addressing this gap by adopting e-commerce through online sales in their daily operations.

02.

Consultancy

This scheme supports the development of a – Business Plan, Feasibility Study, Organisation and Operations Review and Process and Systems Review.

03.

Internationalisation

This Grant Scheme supports SMEs through the provision of Grants to part-finance costs to actively participate in International Business Promotion Fairs held outside the territory of the Republic of Malta, aimed at the internationalisation of the Undertaking by introducing their products/services to new markets and by strengthening their international market presence.

04.

Diversification & Innovation

This Grant Scheme aims to incentivise SMEs to adapt and become more resilient and address market challenges whilst offering timely support to nurture the right environment towards the potential future business growth of the enterprise.

05.

Growth

This scheme assists SMEs to address this gap by providing support in the form of non-repayable Grants to part-finance investments towards the implementation of their growth strategies related to the extension of the capacity of an existing establishment, or the setting up of a new establishment.

Start UP Tech.mt

Start-UP Grant

This Grant Scheme assists start-ups, engaged in one of the following activities, to part-finance their initial productive investment in Tangible and Intangible Assets, in line with a business plan, to implement their business growth strategies.

Since these are funds from the 2014-2020 EU funds programme, deadline for applications is June 2021. However, this may be extended further. More info will be available during Q4 of this year.

Face-to-face meetings with interested parties and prospective applicants are held every week. Interested parties may get in touch on 22957100.

Malta Development Bank

MDB

BOV SME Invest Scheme

The purpose of this facility is to assist SMEs, including start-ups, by enhancing their access to finance.
Bank of Valletta, in collaboration with the Malta Development Bank (MDB), has launched ‘BOV SME Invest’ a product aimed at SMEs planning new capital investment projects. BOV SME Invest provides easier access to finance to SMEs through reduced collateral requirements and finance costs.

CGS

COVID-19 GUARANTEE SCHEME

CGS is part of the wider package of Government’s COVID-19 Response Support Programme.
The MDB COVID-19 Guarantee Scheme (CGS) provides guarantees to commercial banks in order to enhance access to bank financing for the working capital requirements of businesses in Malta facing a sudden acute liquidity shortage as a result of the COVID-19 outbreak.

MIMCOL Logo

MIMCOL Seed Investment Scheme

The Seed Investment Scheme offers incentives in the form of tax credit to investors in return for investment in qualifying Maltese start-up or ear stage companies. The scheme offers young entrepreneurs a route to vital funding in the initial stages of their project by effectively minimizing the risk to investors.

Gozo Back Office Employment Refund

The Gozo Back Office Employment Refund Scheme provides aid in the form of salaries reimbursement to an employer in respect of full-time work on an indefinite basis of:

  • Newly employed staff as from 1 March 2020, carrying out back office operations based in Gozo; or
  • Staff already employed with the undertaking but as from 1 March 2020, carrying out back office operations based in Gozo.

To be eligible the employer’s business concern can be headquartered anywhere, however, it must have a registered address in Gozo from where back office operations are carried out. Moreover, employees being applied for under the scheme shall be resident in Gozo.

Beneficiaries under this scheme will receive aid over a period of 3 years in accordance with the applicable rates, calculated on the basis of the annual basic salary paid to the relevant employee in question as follows:

Annual Basic Salary (€) Yearly Reimbursement per employee Total Reimbursement per employee after 3 years
17,000 – 23,000 €4,500 €13,500
24,000 – 30,000 €6,000 €18,000
31,000 & Above €8,000 €24,000

Annual basic salary amounts falling between categories will be reimbursed according to the lower category. Moreover, the annual maximum financial aid shall be capped at €65,000 per single undertaking.

Gozo Teleworking Scheme

The Gozo Teleworking Scheme provides aid to employers in the form of a financial grant spread over a period of 3 years, paid proportionately on the actual number of telework days granted to an employee being applied for under the scheme.

To be eligible, the employer’s business concern must be either registered and based in Malta, or if registered in Gozo, it must have branches and units in Malta from where Gozo resident employees applied for under the scheme are stationed. Eligible employers can apply for up to a maximum of 10 employees per year under this scheme. Moreover, to be eligible, the minimum amount of telework to be granted should be an average of 2 days per week and a maximum of 4 days per week.

Benefits under the scheme are twofold:

  1. A salary reimbursement up to a maximum of €10,000 per employee, spread over a period of 3 years, based on the proportion of actual telework days performed by an employee as follows:
    1. Year 1 entitles 30% up to a maximum of €3,000;
    2. Year 2 entitles 30% up to a maximum of €3,000;
    3. Year 3 entitles 40% up to a maximum of €4,000;

    An employer is required to provide a plan at the beginning of each year specifying the number of telework days expected to be granted to an employee being applied for. Following the elapse of a working year, the employer will be asked to provide records of actual telework days. In this case, whilst the number of planned telework days does not necessarily need to be strictly adhered to due to unforeseen circumstances that may arise, it is imperative that the differences between planned and actual telework days does not exceed 20 days per working year. Exceeding the 20 days threshold may result in ineligibility under the scheme.

  2. A one-time payment in respect of partial financial reimbursement related to the technological and Capital Investment made. Such aid refers solely to a Notebook Computer or PC together with a Printer including scanning facilities. The eligible financial aid offered entails 75% reimbursement to the expenses cited, with a maximum of up to €850 reimbursement ceiling. Capital reimbursement shall only be eligible for telework which has been granted as from 1 January 2021 thereon and for equipment that was purchased during that same year. In the event of teleworker granted before submission of application under this scheme, the employer would still be eligible to submit application but shall not be eligible to the equipment component.

In this case both the Gozo Back Office Employment Refund Scheme and the Gozo Telework Scheme are subject to the De Minimis Regulation on state aid.