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Absolute majority of enterprises concerned about the banking situation in Malta

GRTU 1GRTU Malta Chambers of SMEs today organised it's annual SME Conference. This years conference focused on the Banking and financial issues and GRTU Malta Chamber of SMEs published it's survey results. During this years'conference over 200 enterprises attended this event.

The conference was supported by Business 1st and MEIB as part of the month-long itinerary of SME Week.

74% of the enterprises replied that they find it difficult to get funds from banks. Up by 25% over the results of a similar survey that asked the same question in 2011.

The survey results show that businesses need more competition in the banking sector and that from a business perspective, the situation in the banking sector has never been worse. The survey results where published by GRTU Vice President Marcel Mizzi.

The conference was addressed by the Minister for Economy, Investment and small businesses. Hon. Chris Cardona, thanked GRTU for never shying away from challenges faced but also working towards finding a solution for these challenges. He insisted that “we are facing new challenges of new economic times, and there are no easy solutions. Offering support and resolutions for these dynamic challenges is what guarantees our businesses future success.”
The Minister referenced the tight labour market and changing banking policy as two of the new challenges businesses are today facing, as the country has entered a new economic era.

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A Brexit deal has been agreed between UK and EU negotiating teams before a meeting of European leaders in Brussels.

Prime Minister Boris Johnson tweeted: "We've got a great new deal that takes back control."

The two sides have been working on the legal text of a deal, but it will still need the approval of both the UK and European parliaments.

The DUP has cast doubt on its sign off, saying they still cannot support it.

The Northern Irish party earlier released a statement saying they could not back proposals "as things stand", and - after the PM's announcement - said their statement "still stands".

Source: BBC

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Budget 2020: Positive, next steps should be for SMEs – GRTU

GRTU - Malta Chamber of SMEs saw plenty of positives in Budget 2020.

Paul Abela, President of the General Retailers and Traders Union, said that the GRTU had reacted to this budget positively, which in is words, “could not be otherwise.”

Among other proposals, Mr Abela referred to the proposed reduction of stamp duty on the transfer of a family business, and the tax reduction on the first 100 hours of overtime, as well as increasing the cost of living.

The government had also taken up the GRTU’s proposals to ensure adequate connectivity between Malta and Gozo.

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final equality 2GRTU as the national business organisation representing the interest of SMEs has participated in the consultation exercise - ‘Gender Balance in Parliament Reform’ that seeks to make changes to the composition of our Parliament.  

GRTU welcomes the consultation paper and the policy initiative that is being taken. GRTU acknowledges that serious effort and commitment is required in order to overcome the remaining hurdles and obstacles that are holding, not just women, but valid individuals of any gender that cannot participate in politics with the aim of becoming MPs because being an MP with the current conditions is today very difficult.

There are a number of radical changes, proposed in the same consultation document, that must be further strengthened and exhausted before one considers making changes to our constitution to change the composition of our most important democratic institution – Parliament, on the basis of gender.

The gender corrective mechanism is not what females or anyone else interested in politics needs. What is needed is a real chance to make this opportunity a reality. Current conditions for MPs force them to dedicate their life to politics and setting aside full-time career aspirations and their families. This is the real hurdle keeping not just women but all valid individuals that want to choose to be active and present in their families and pursue a career that will help them not to struggle financially. It is inhumane to ask from our MPs to stay at work because their pay at Parliament just cannot sustain them, then, after work hours, be an MP and dedicate him/herself to politics and then also be an active parent.

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GDPR - Are you prepared ?

GDPR stands for General Data Protection Regulation and is a European law that will come into force on the 25th of May 2018.

It is important that your business is aware of the changes that GDPR brings about as the fines imposed for non complaince are 4% of your turnover and up to 20 Million Euros !

Click here to learn more

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