Incentives to Businesses

The Minister also announced a number of incentives to businesses.

A cash grant under the Business Enhance Scheme will be available to Small and Medium Enterprises. The total funds allocated for this scheme amount to €40 million.
Companies investing in digital and sustainable projects shall be entitled for a cash grant of 50% of the investment, subject to a capping of €100,000.
Gozo based businesses and start-ups shall continue to benefit from additional financial assistance of 10% in the form of tax credits. This amount shall increase to 20% if the company invests in projects aimed to reduce the carbon footprint of its operations.
Malta Enterprise shall set up a new Business Incubation Centre targeted at those investments which are of an innovative nature. Moreover, a new one stop shop called Start in Malta shall be established and will be administered by Malta Enterprise.
A tax credit of up to €40,000 shall be granted to those entities investing in digital, energy saving or waste reduction projects.