Small and medium-sized enterprises are the backbone of our economy.
They create thousands of jobs and contribute hugely to our growth. Most SMEs are family owned however all SMEs have one thing in common: resilience.
Despite decades of resilience, SMEs punched above their weight and kept our economy going and growing. Today, Malta has the fastest growing economy within the eurozone and one of the highest employment rates in Europe. Our SMEs are one of the main reasons for this extraordinary success.
Having spent most of my young and adult life in politics and having practised the legal profession before I was appointed to Cabinet meant that I am in frequent contact with small and medium-sized businesses. They face challenges, but none happen to be insurmountable because most of them are resilient, and the Labour administrations, since 2013, have had their back.
Our primary aim has always been to help small businesses grow locally. In parallel we want to give them the tools to venture abroad. The government has just introduced three new strategic schemes aimed at strengthening the competitive edge of our local enterprises.
These schemes focus on marketing strategy, standards and awards, and internationalisation. They are more than just financial instruments. They are tools designed to empower SMEs to consolidate their local operations and confidently pursue new opportunities abroad.
Through the Marketing Strategy Scheme, SMEs are being provided with an opportunity for assistance up to €10,000 to assist them execute a professional marketing plan that provides them with a solid foundation for domestic consolidation and cross-border expansion.
Another scheme, the Standards and Awards Scheme, offers up to €15,000 to assist companies in securing international certifications, raising their profile, and reinforcing consumer trust.
The Internationalisation Scheme provides up to €20,000 in support to enterprises are exploring business opportunities in foreign markets. These funds may cover feasibility studies, consultancy, and market-entry strategies.
Each scheme has a budget of €500,000. Co-financing is set at50%, increasing to 60% for start-ups. This is a clear sign of our commitment to emerging businesses. These efforts are co-financed through the European Regional Development Fund (ERDF) and implemented in full compliance with EU State Aid regulations.
Financial support only works with sound coordination and transparent delivery. I am deeply grateful for the sterling work being carried out by Servizzi Ewropej f’Malta (SEM) and the Measures and Support Division within my Ministry who are providing all the administration and support in relation to these schemes.
Their deep sense of duty, professional attitude, and efficiency ensures that these funds are not only accessible but are channelled effectively toward those areas where they can make the greatest impact. SEM’s dedication to public service was recently honoured in the Public Service Awards ceremony, where it received the quality award for exceptional service delivery, reflecting the agency’s commitment to professional excellence.
Their expert guidance, from applications to EU co-financing, remains indispensable. The feedback received has been outstanding. Within weeks of the launch of these schemes six service providers enrolled to deliver these schemes, with more expected soon. This reflects the growing maturity of Malta’s entrepreneurial support ecosystem.
Beyond these new schemes, government support for SMEs remains multifaceted — from aiding participation in international trade fairs and fostering global partnerships to promoting digital transformation. These are not standalone interventions, but part of a holistic economic strategy designed to future-proof Maltese businesses in a competitive global landscape.
Ultimately, our vision as government remains steadfast in its vision: to build a dynamic SME sector that contributes to Malta’s long-term, sustainable growth
By equipping our SMEs with the tools, expertise, and funding they need to scale up, we are not only providing them with the opportunity to tap into international markets, but we are also investing in Malta’s long-term economic success.
I encourage SMEs to explore these EU funded opportunities. It is imperative that the Maltese business community takes next bold step towards more growth and innovation. The journey to further success starts here with the right support, the right plan, and the right partners. Let’s work together to support SME’s and future growth.
