The Malta Business Bureau and Bank of Valletta are organising a business seminar on Tuesday at 8.30am at the Hotel Phoenicia.

During this seminar, Ernst & Young will highlight the findings of 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.

A presentation will be given by the Planning and Priorities Coordination Department on the role of access to finance in the new EU Funding programming period for 2014-2020.

A panel debate will follow with the participation of George Vella, MBB president; Albert Frendo, BOV chief officer credit; and entrepreneurs Ivan Bartolo, 6PM, and Sandra Zammit, Smoochies.

The debate will be moderated by Vanessa MacDonald. The seminar will be brought to a close with an address by Parliamentary Secretary for EU Funds Ian Borg.

Facilitating ‘Access to Finance’ for SMEs through EU Grants Schemes and Financial Engineering Instruments is a top priority to improve Europe’s competitiveness.

European Commission vice president Antonio Tajani, Commissioner for Industry and Entrepreneurship, said: “Access to finance of SMEs remains difficult and is one of the main reasons for the current economic downturn. Therefore 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.”