Issue link: https://maltatoday.uberflip.com/i/1473180
2 NEWS 14.7.2022 THE Malta Chamber of SMEs has once again won first prize at the National Supporting Business Awards under the remit of the Ministry for the Economy. e Award was won on the basis of supporting businesses in their sus- tainable transition and support envi- ronmental aspects such as the circular economy, climate neutrality, clean ener- gy and resource efficiency. e SME Chambers' project is called 'A Fair Deal for Maltese Businesses'. e Green Deal, which was first an- nounced in December 2019, came with a very innovative concept. e Europe- an Commission (EC) immediately stat- ed that the Green Deal is very ambitious and will require a big change in the pri- vate sector. Yet, e EC also said that this tran- sition would be a fair and just one and that it will ask the Member States to en- sure that nobody is left behind. e SME Chamber has risen to this great challenge and has taken it upon itself to ensure that, with the collabora- tion of many stakeholders, Malta would not just be on the forefront of the Green Deal but would also champion the theme and impact of having a just and fair transition. By engaging and collaborating with dif- ferent stakeholders the SME Chamber is aiding in the implementation of new EU targets and requirements from a small business perspective and ensuring that these small businesses are at the heart of every strategy related to the green deal. Malta Enterprise recognised for promoting entrepreneurial spirit Malta Enterprise, the country's eco- nomic development agency was rec- ognised for its work in 'Promoting the Entrepreneurial Spirit' at this year's National Supporting Business Awards 2022. e award was presented to the gov- ernment entity for its work on the na- tional start-up initiative 'StartinMalta'. Startups businesses may be defined as early business projects and might be el- igible to receive financial aid including via Malta Enterprise. Early-stage Startups may qualify for a €10,000 grant through Malta Enter- prise's Business Start Scheme for work on developing their business plan. is can then be expanded to a total of €200,000 grant in the subsequent stages whereby assistance can also part-cover wage costs. Another scheme Startup Fi- nance - is a repayable advance that may support highly innovative start-ups and scaleups with up to €800,000 that will be repaid upon profitability. 'Start in Malta', the governmental vi- sion for encouraging more businesses to startup their projects in Malta was set out back in May 2021. e team at ME have expanded their endeavour to synergise, visualise and improve Malta's startup offering en- couraging local and international entre- preneurs to explore Malta as a potential location for business. is has been evidently seen through the organisation of the Startup Festival in November 2021, ME's support to the inaugural edition of Shark Tank Malta and the attraction of the Plug and Play Tech Centre accelerator onto the island. Kurt Farrugia, CEO of Malta Enter- prise, stated "We are humbled and hon- oured by this award which symbolizes the work implemented to attract more startup business projects to our island. Startups are a means of energising our economy and bringing innovators and new talent to Malta." Meanwhile the second edition of Start- up Festival Malta will be taking place on 13 and 14 October 2022. Registrations for the event and the business-investor matchmaking tool will soon be open for all interested to participate. SME Chamber wins best business supporter award for second consecutive year Industrial production up by 0.8% in the euro area and by 0.6% in the EU IN May 2022, the seasonally adjusted in- dustrial production rose by 0.8% in the euro area and by 0.6% in the EU, com- pared with April 2022, according to esti- mates from Eurostat, the statistical office of the European Union. In April 2022, industrial production grew by 0.5% in the euro area and by 0.3% in the EU. In May 2022 compared with May 2021, industrial production increased by 1.6% in the euro area and by 2.7% in the EU. Monthly comparison In the euro area in May 2022, compared with April 2022, production of non-du- rable consumer goods rose by 2.7%, cap- ital goods by 2.5% and durable consumer goods by 1.4%, while production of inter- mediate goods remained unchanged and production of energy fell by 3.3%. In the EU, production of capital goods rose by 2.5%, non-durable consumer goods by 2.1%, durable consumer goods by 1.3% and intermediate goods by 0.2%, while production of energy fell by 3.5%. Among Member States for which data are available, the highest monthly increas- es were registered in Ireland (+13.9%), Greece (+2.6%) and Czechia (+2.4%). e largest decreases were observed in Lithuania ( 7.6%), the Netherlands ( 3.3%) and Luxembourg (-2.9%). Annual compariso In the euro area in May 2022, com- pared with May 2021, production of non-durable consumer goods rose by 6.8%, durable consumer goods by 6.3% and capital goods by 0.9%, while pro- duction of intermediate goods fell by 0.2% and energy by 1.5%. In the EU, production of non-dura- ble consumer goods rose by 8.7%, du- rable consumer goods by 5.4%, capital goods by 1.8%, energy by 0.7% and in- termediate goods by 0.6%. Among Member States for which data are available, the highest annual increases were registered in Bulgaria (+20.2%), Denmark (+17.2%) and Po- land (+12.5%). The largest decreas- es were observed in Malta ( 4.8%), Luxembourg (-2.1%) and Germany (-1.4%). and energy by 1.5%. In the EU, production of non-durable consumer goods rose by 8.7%, durable consumer goods by 5.4%, capital goods by 1.8%, energy by 0.7% and intermediate goods by 0.6%. Among Member States for which data are available, the highest annual increases were registered in Bulgaria (+20.2%), Denmark (+17.2%) and Poland (+12.5%). The largest decreases were observed in Malta (-4.8%), Luxembourg (-2.1%) and Germany (-1.4%). -5 0 5 10 15 20 Bulgaria Denmark Poland Austria Finland Latvia Estonia Spain Lithuania Netherlands Italy Hungary Ireland Czechia Greece Portugal Croatia Slovenia EU Romania Euro area Slovakia Sweden France Belgium Germany Luxembourg Malta Industrial production in May 2022 % change compared with May 2021 Industrial production in May 2022