Firms will now be able to receive up to €5,000 in grants for consultancy services related to the restructuing of their operations.

In an event held on Wednesday, the Ministry for the Economy, the Malta Chamber of Commerce and Malta Enterprise announced that €2.5 million are being allocated to the scheme.

Companies employing between 10 and 250 people are eligible to apply for the grant to receive expert advice from consultants approved by the Malta Chamber related to the improvement of their operations through digitisation, energy efficiency, a reduction of their impact on the environment, and great efficiency in their distribution capacities.

Minister for the Economy Silvio Schembri said, "Unless we embrace technological improvement, certain businesses will die a natural death. What has worked for 40 years might not be good enough today.”

“We must adapt and overcome the challenges we face today, especially in light of how the COVID pandemic has forced us to think differently.”

Speaking at the event, Malta Chamber president David Xuereb said that entrepreneurs must view the current circumstances as a unique opportunity to think outside the box and innovate.

“Business re-engineering is the mantra of what the chamber has asked of its members. We believe that good governance, digitisation efforts, innovation and sustainability are key pillars on which these ideas must be based,” he said.

Kurt Farrugia, CEO of Malta Enterprise, said that the scheme is intended to help businesses adapt both for immediate survival as well as obtain better, long-term sustainability.

“Before COVID-19, we were helping businesses become stronger. Now, we first had to switch to helping businesses survive, especially since trying circumstances might mean that adaptation is not a priority,” he said.

A call for service providers will be issued on November 10. Interested parties can submit their appliactions through the Malta Chamber’s website.