News | Wednesday, 04 November 2009

Government to announce aid-package for SME’s

Karl Stagno-Navarra
A multi-million aid-package for small and medium sized enterprises and sole traders is to be announced in next Monday’s Budget.
The news was announced yesterday by Finance Minister Tonio Fenech who explained that the aid-package, intended to assist small businesses will be over and above the EU funds that so far has seen a total of 288 beneficiaries.
During a visit to Grixti Mobili in Marsa, Tonio Fenech explained that 143 enterprises would be benefiting from the second instalment of the European Regional Development Fund (ERDF)
The 143 enterprises are to benefit from a total of €8 million, with the most popular schemes so far being e-business and international competition. The environment has meanwhile turned out to be the least popular among enterprises with only 17 applications being received.
Grixti Mobili which specializes in tailor-made furniture used €73,000 in ERDF funds to invest in equipment which helped make it more competitive in the local market.


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04 November 2009


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