Five Takeaways from the Leaders’ SME Chamber Debate

Imagine, if you will, the bustling Malta Chamber of Commerce building in Valletta, abuzz with anticipation as the leaders of the three main political parties took to the stage for a debate focused on small and medium enterprises (SMEs). The event, organised by the Malta Chamber of SMEs, was a rare opportunity for local business owners to hear directly from those who could shape their future. Here are five key takeaways from the debate that every Malta-based SME should know.

1. Taxation: A Common Concern, Different Solutions

It was no surprise that taxation was a hot topic. Both the Opposition Leader, Adrian Delia, and the Prime Minister, Robert Abela, agreed that the current tax system needs reform. Delia proposed a flat tax rate, while Abela stressed the need to maintain progressivity but simplify the system. The leader of the left-wing party, Marlene Farrugia, advocated for a more redistributive tax system. The common ground? All three agreed that the tax system should be more SME-friendly, with Delia promising a review within 100 days of taking office.

2. Skills Gap: A Challenge and an Opportunity

The skills gap was another key issue discussed. With Malta’s economy booming, finding the right talent has become a challenge for many SMEs. Abela highlighted the government’s investment in education and training, while Delia promised to create a national skills strategy. Farrugia, meanwhile, called for more apprenticeships and on-the-job training. All three agreed that the education system needs to better align with the needs of the labour market.

Local Angle: The Malta College of Arts, Science and Technology (MCAST)

MCAST was mentioned several times during the debate. Both Abela and Delia praised the college’s role in providing industry-relevant training, while Farrugia called for more collaboration between MCAST and local businesses to ensure that courses are tailored to the needs of the market.

3. Red Tape: A Barrier to Growth

Red tape was another issue that united the three leaders. Delia promised to reduce bureaucracy by 50% within his first 100 days in office, while Abela highlighted his government’s efforts to streamline processes. Farrugia, meanwhile, called for a more broad approach to regulation, one that considers the impact of rules on SMEs. All three agreed that Malta needs to make it easier to do business, with Abela pointing to the country’s recent rise in the World Bank’s Ease of Doing Business rankings.

4. Brexit: A Storm on the Horizon

Brexit, or rather, the lack of a Brexit deal, cast a long shadow over the debate. All three leaders acknowledged the uncertainty that Brexit poses for Maltese SMEs, many of which trade with the UK. Delia called for a hard Brexit contingency plan, while Abela highlighted the government’s efforts to diversify Malta’s trade relations. Farrugia, meanwhile, called for more EU support for countries like Malta, which are disproportionately affected by Brexit.

5. Sustainability: The Future of Business

The final takeaway was sustainability. All three leaders agreed that sustainability is not just a buzzword, but a business imperative. Abela highlighted his government’s commitment to the Paris Agreement, while Delia promised to make Malta carbon neutral by 2050. Farrugia, meanwhile, called for more support for green businesses. The common ground? All three agreed that sustainability is not just good for the environment, but good for business.

As the leaders left the stage, the audience was left with a clear message: regardless of who wins the next election, SMEs will be a priority. But with challenges like Brexit and the skills gap looming, it’s clear that there’s still much work to be done. So, Malta-based SMEs, it’s time to make your voice heard. Engage with your political representatives, join industry associations, and make sure your concerns are at the heart of the political debate.