One in every eight business participants who took part in B2B events organised by the Malta Consortium within the Enterprise Europe Network (EEN) managed to grow their business internationally, according to recently published statistics.
Earlier this month, the EEN in Malta officially launched a new web portal addressing local business requirements together with an audiovisual explaining its services and outcomes.
Over the years, 2,500 Malta-based business representatives participated in 50 seminars organised by the EEN locally, contributing 970 policy recommendations as direct feedback to the European Commission.
The Consortium was also well-positioned to provide 300 advisory services to Malta-based entrepreneurs and replied to more than 500 general enquiries. The major part of the advisory services consisted of individual client support towards tapping EU funding, innovation business practices and access to international procurement.
Reacting to the results, a spokesperson for the Malta Consortium said: “We are satisfied with the outcome of our work which generated a very positive reputation for the network locally. We constantly push ourselves to turn activity results into outcomes which generate a positive impact on clients’ businesses because ultimately that is the purpose of our work.”
Enterprise Europe Network is the world’s largest support network for SMEs with international ambitions. The network is spread over 60 countries, bringing together 3,000 business experts from over 600 member organisations renowned for their excellence in business support.
Last year, in global terms, network clients reached 2,507 agreements with foreign companies thanks to partnering services, while advisory support services gave 1,534 clients a significant impetus to improve their competitiveness and innovation at European level.
The Malta Consortium within the network is composed of Malta Enterprise; Malta Chamber of Commerce, Enterprise and Industry; Malta Business Bureau (MBB); and the Malta Council for Science and Technology (MCST).
MIA holds training on updated VAT and FSS measures
The new VAT returns system was discussed at an exclusive information session organised by the Malta Institute of Accountants and the Malta Institute of Taxation. Specialists explained the changes introduced by the newly introduced online submission system and answered questions from the floor.
“This initiative is in line with the organisations’ respective commitment to share and diffuse knowledge as well as offer support and guidance to its members and the wider business community,” said Claudia Vella Schembri from the Malta Institute of Accountants’ Technical Department.
The Institute of Accountants held the session to update members on the new mandatory requirements for online submissions of VAT returns and FSS end-of-year online submissions, which came into force recently.
The session was addressed by experts from the Office of the Commissioner for Revenue. Noel Agius, who was deeply involved in the development of the Final Settlement System, spoke about the online FSS submissions system, while Andrew Buhagiar, from the IT Section, delivered a presentation on online VAT returns submissions.
Efrem Ray Debono, who manages the Back Office and the Data Processing Unit, offered a comprehensive review of the new system. The speakers took questions from a highly-engaged audience and offered detailed technical tips.
The collaboration with the Malta Institute of Taxation is in line with the Malta Institute of Accountants’ strategy to create synergies with other professional bodies to support the wider business community. The information session is part of the Institute’s commitment to share and diffuse knowledge with its members, and to offer practical guidance to accounting professionals.