Facilitating ‘Access to Finance’ for SMEs through EU Grants Schemes and Financial Engineering Instruments is top priority to improve Europe’s competitiveness. The Maltese Business Bureau, through a recently published report is putting forward its proposals to the Maltese and European authorities for the next programming period 2014-2020.

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 euros 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% of all new jobs.”

The Malta Business Bureau and Bank of Valletta would like to invite different stakeholders from both the private sector and government entities to attend a business seminar being held on Tuesday 21st May 2013 at the Hotel Phoenicia, commencing at 8.30am.

During this seminar, Ernst & Young shall be highlighting the findings emanating from a study that was 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.

A presentation will be given by the Planning & Priorities Coordination Department (PPCD) 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 Dr Ian Borg.

For further information and registration kindly call the Malta Business Bureau on 21251719 or send an email on info@mbb.org.mt by Monday, the 20th of May 2013.

Permalink: Business seminar on Improving Access to Finance for SMEs