Issue link: https://maltatoday.uberflip.com/i/1531934
5 maltatoday | WEDNESDAY • 29 JANUARY 2025 NEWS JAMES DEBONO jdebono@mediatoday.com.mt THE Malta Chamber of SMEs published the findings of its an- nual Business Performance Sur- vey for 2024 as part of the SME Barometer in collaboration with Misco Malta, providing critical insights into the performance, challenges, and expectations of businesses across the country. The press conference was addressed by SME Chamber President Paul Abela, Deputy President Philip Fenech, COO Andrew Aquilina. The survey, conducted online between January 10 and Jan- uary 22, 2025, collected data from 364 unique businesses spanning multiple industries. Key Findings • Business Performance and Turnover: Compared to 2023, 42% of re- spondents reported an increase in turnover in 2024, while 34% experienced no change, and 24% noted a decline. Key drivers of growth included improved marketing efforts (34%), better sales strategies (30%), and enhanced consumer confidence (20%). • Profitability Trends: Profitability levels remained steady, with 41% of businesses reporting no change compared to the previous year. However, 33% experienced reduced prof- itability, highlighting ongoing challenges in cost management and resource allocation. • Rising Costs: The main contributors to ris- ing prices were increased em- ployee wages (63%), and high- er costs of imported products (54%). • Festive Period Sales: During the 2024 festive sea- son, 24% of businesses saw in- creased sales, while 46% main- tained the same turnover as in 2023. However, 30% reported a decline in festive season sales. • Challenges Facing SMEs: Businesses identified labour shortages, unfair competition, and increasing operational costs as top challenges. De- layed client payments also neg- atively impacted cash flow. The Malta Chamber of SMEs President Paul Abela said that the survey highlights several systemic issues affecting busi- nesses in Malta, such as over- population, transparency and labour shortages. Abela high- lighted that the SME Chamber is currently preparing feedback related to the Malta Labour Migration Policy. Abela said that the challenges, including persistent employee wage and salary costs, along with rising costs of imported goods, have prompted calls for urgent government action to address issues of unfair compe- tition and governance. Andrew Aquilina, Malta Chamber of SMEs COO high- light that another issue which resulted from this survey is re- lated to the late payments and stated that this creates cash flow issues for SMEs, making it harder for businesses to meet their financial obligations and sustain operations. Malta Chamber of SMEs releases 2024 business performance survey results Employee shortage and unfair competition named as the top concerns for businesses PRODUCERS and importers of plastic fishing gear will have to bear the cost of collecting, recy- cling and managing the waste caused by their products, accord- ing to draft regulations. Fishermen and artisanal gear makers are exempt from these ob- ligations unless they directly im- port fishing gear. This initiative is part of Malta's commitment to the EU's Sin- gle-Use Plastic Directive, which seeks to reduce plastic pollution in the Mediterranean. The regu- lations are out for public consul- tation. Fishing gear such as nets, lines, and hooks, is essential for catching marine life. However, when lost or abandoned at sea, fishing gear becomes a significant environmental threat. Known as 'ghost gear', discarded fishing equipment continues to entangle marine life, leading to injuries and deaths. According to a 2019 Greenpeace report, 10% of ocean plastic pol- lution comes from lost or aban- doned fishing gear. Malta, along with other Mediterranean coun- tries, has been identified as a major contributor to this issue. A study published in the Jour- nal of Environmental Manage- ment undertaken between 1961 and 2017 found that Malta ranks among the top contributors to ma- rine litter in the region, with thou- sands of fishing gear items, such as floats and ropes, found in its wa- ters. The environmental damage caused by ghost gear is far-reach- ing. Lost fishing gear can entangle sea turtles, fish, and seabirds, caus- ing serious harm or death. In 2018, Nature Trust Malta reported an increase in turtle injuries from ma- rine debris, with some turtles los- ing flippers and others dying from ingesting plastic. Ghost gear also damages marine habitats, such as coral reefs, and disrupts biodiversity by harming fish populations and restricting access to food sources. Further- more, marine litter negatively af- fects beaches, impacting tourism, and lost fishing gear can become entangled with vessel propulsion systems, adding further costs to the maritime industry. The new regulations aim to hold producers accountable for the en- vironmental impact of their prod- ucts. Producers who manufacture, sell, or import plastic fishing gear in Malta will be required to man- age the collection, transport, treat- ment, and recycling of the waste generated by their products. A 5% collection target for recycling plas- tic fishing gear is also proposed, contributing to the reduction of marine litter. Producers will be required to form a Producer Responsibility Organisation, authorised by the Environment and Resources Au- thority (ERA), to manage the col- lection and recycling efforts and ensure compliance with the regu- lations. Malta has already implemented measures to address ghost gear, including gear marking and re- covery programmes. In 2018, the Ghost Fishing Malta initiative was launched to improve reporting of lost gear. The public consultation on these new regulations offers stakehold- ers an opportunity to provide feed- back on how the measures can be improved. As Malta continues to commit to reducing marine litter and protecting its seas, these reg- ulations are intended to ensure a sustainable future for both the ma- rine environment and the fishing industry. Importers of fishing gear to be made responsible for ghost gear VACANCY Francesco Fenech Ltd, requires a Welder on a full-time basis. The ideal candidate must have previous experience and be ready to work on a full-time basis. Previous experience is considered an asset. Duties include: • Welds and assembles metal pieces and products by using handheld welding equipment. • Cutting and joining metal parts for fabricating or repairing equipment. • Monitoring the fitting, burning and welding processes to avoid overheating of parts Candidate must be able to follow instructions from supervisors and be ready to learn from on-the-job training when necessary Apply at: francescofenech@gmail.com