Business Advisory Services Scheme

Introduction The Business Advisory Scheme is designed to provide business undertakings operating in Malta with advisory services that suit their specific circumstances. Business priorities change in relation to various factors that include the socio-economic environment and the age of the enterprise. While a start-up undertaking may prioritise funding and market entry, a more established undertaking […]

Written By Stephen Balzan

On January 3, 2017
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Introduction

The Business Advisory Scheme is designed to provide business undertakings operating in Malta with advisory services that suit their specific circumstances.

Business priorities change in relation to various factors that include the socio-economic environment and the age of the enterprise. While a start-up undertaking may prioritise funding and market entry, a more established undertaking will prioritise new market penetration, change management, innovation and corporate governance. Malta Enterprise established a team of business consultants that have the capabilities to address the needs of undertakings at different stages of development. 

Business Advisory Services are provided with the aim to support undertakings identify strengths and overcome weaknesses in specific areas. A range of business advisory services are available and every effort is made to match the right advisor to the specific needs of the applicant. 

Duration of the incentive

This scheme will remain ongoing until 31st December 2017.

Eligibility 

This incentive is available to all enterprises.

The Incentive

The scheme aims to provide tailor made business advisory services to undertakings through advisors selected by Malta Enterprise.  Business advisory services are available for:

  1. Business start-up support;
  2. Business planning and modelling;
  3. International competitiveness and export readiness;
  4. Market development;
  5. Human resources management;
  6. Intellectual property management and registration;
  7. Product and service development;
  8. Quality – Certification and improvement;
  9. Information management;
  10. Engineering and logistics;
  11. Business processes re-engineering;
  12. Supply chain management.

Eligible costs

Advisory services will be provided in two stages.

Stage 1 will involve a preliminary investigation of particular areas which the undertaking may wish to address.  This stage will be financed by Malta Enterprise and will be completed in less than 10 hours.

Stage 2 will consist of more focused consultancy, support and handholding.  Malta Enterprise will charge an hourly rate of Eur40, however the fees will be discounted as follows:

Large enterprises – 30%

Medium sized enterprises – 40%

Small and micro enterprises – 50%

Aid Intensity

An undertaking may receive business advisory services on a number of different projects.  However, the total value financed by Malta Enterprise under this scheme is limited to Eur2,500 p.a.  When the limit is reached, the full hourly costs are charged.

How can we help?  

For further information, please contact one of the firm’s tax partners, Stephen Balzan on [email protected] or Elaine Camilleri [email protected]. ACT can help you understand the changes to the tax rules and how these can impact your business.  

Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria.  For an appointment in our Gozo office, please call on 00356 21378672 or send us an email on [email protected]. 

Disclaimer: This article contains general information only and is not intended to address the circumstances of any particular individual or entity. ACT, by means of this article is not rendering any accounting, business, financial, investment, legal, tax, or other professional advice or service. This article is not a substitute for such professional advice, nor should it be used as a basis for any decision or action that may affect your finances or your business. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Before making any decisions or before taking any action that may affect your finances or your business, you should consult a qualified professional adviser. ACT shall not be responsible for any loss whatsoever sustained by any person who relies on this article.