Aid for small businesses to be announced

Aid for small enterprises over and above EU funds is to be announced in next Monday’s budget, Finance Minister Tonio Fenech said this afternoon.

This aid would be for small and medium enterprises and for sole traders.

During a visit to Grixti Mobili in Marsa, Mr Fenech said that 143 enterprises would be benefiting from the second instalment of the European Regional Development Fund bringing the total number of beneficiaries to 288.

The 143 enterprises would benefit from a total of €8 million. The most popular schemes among applicants so far are e-business and international competition. Environment theme was the least popular theme with only 17 applications being received.

Schemes under the fund encouraged local enterprises to be innovative, safeguard the environment, reduce waste and explore European market opportunities

Grixti Mobili in Marsa has benefited from €73,000 from the first instalment of ERDF.

The company, which specializes in tailor-made furniture used the money to invest in equipment which helped make it more competitive in the local market.

Auditor Brian Tonna said Grixti Mobili also benefited from pre-accession funds. The company, which was set up 35 years ago, employs 17 people. It will soon be exploring the possibility of exporting its products.