The Malta Business Bureau and Bank of Valletta are holding a seminar at the Hotel Phoenicia, Floriana, on May 21 on access to finance for small businesses.
The MBB, through a recently published report is putting forward its proposals to Maltese and European authorities for the next programming period 2014-2020.
At the seminar, Ernst and Young will share the findings emanating from a study commissioned by the MBB in collaboration with BOV, entitled Market Gaps In Access To Finance And The Feasibility Of New Financing Instruments In The EU Addressing The Credit Needs Of Maltese Business.
The report also gives recommendations on new grant schemes, risk capital and financial engineering instruments, as well as alternative solutions to finance, which can further strengthen the competitiveness of SMEs at different life stages from various economic sectors of the Maltese economy such as manufacturing, retail/distribution, hospitality, innovation and the creative art sector.
The Planning and Priorities Coordination Department will give a presentation on the role of access to finance in the new EU funding programming period for 2014-2020.
MBB president George Vella, BOV chief officer credit Albert Frendo and entrepreneurs Ivan Bartolo of 6PM, and Sandra Zammit of Smoochies will participate in a panel debate moderated by Vanessa MacDonald.
Parliamentary Secretary for EU Funds Ian Borg will close the seminar.
Facilitating access to finance for SMEs through EU grants schemes and financial engineering instruments is a top priority to improve Europe’s competitiveness.
“Access to finance of SMEs remains difficult and is one of the main reasons for the current economic downturn,” European Commission vice-president and Commissioner for Industry and Entrepreneurship Antonio Tajani said.
“We intend to enlarge our loan guarantees to SMEs under the new programmes for 2014. Each euro dedicated to our guarantees has the power to stimulate – on average – €30 in bank loans.
“This is crucial to help Europe’s jobs engine, our small enterprises, to run smoothly again. It is they who create 85 per cent of all new jobs.”
For information and registration, call 2125 1719 or e-mail info@mbb.org.mt by May 20.