Leaders’ SME Debate: 5 Key Takeaways for Malta’s Business Future
As the sun dipped below the Grandmaster’s Palace, the echoes of the leaders’ debate at the Malta Chamber of SMEs still resonated through the cobbled streets of Valletta. The event, a first of its kind, brought together the country’s top political contenders to discuss the issues that truly matter to Malta’s small and medium-sized enterprises. Here are five key takeaways from the evening that could shape the future of our local business scene.
1. Taxation: A Common Ground, But Different Paths
The leaders agreed that taxation is a critical issue for SMEs, but their proposed solutions differed. Both Robert Abela and Bernard Grech emphasized the need to reduce the tax burden on SMEs, with Abela proposing a further reduction in tax rates and Grech suggesting a review of the tax system to make it more progressive. Adrian Delia, on the other hand, proposed a flat tax rate to simplify the system and stimulate economic growth.
2. Skills Gap: A Call for Collaboration
All leaders acknowledged the skills gap as a significant challenge for Maltese businesses. They agreed on the need for better collaboration between the education sector and the private sector to ensure that our education system is producing graduates with the skills that businesses need. Grech proposed the establishment of a national skills council, while Delia called for more apprenticeship schemes. Abela, meanwhile, highlighted the government’s investment in vocational training and lifelong learning.
3. Public Procurement: Leveling the Playing Field
The leaders discussed the need to make public procurement more transparent and accessible to SMEs. Grech proposed a ‘SME first’ policy, where public contracts would be awarded to SMEs unless there are compelling reasons not to. Abela highlighted the government’s ongoing reforms to streamline the procurement process, while Delia called for a review of the current procurement laws to ensure they are fit for purpose.
4. Brexit and the EU: Navigating Uncertainty
The leaders were quizzed on how they would help Maltese businesses navigate the post-Brexit scene and the ongoing uncertainty around the EU. Abela emphasized the government’s efforts to diversify Malta’s trade relations, while Grech proposed the establishment of a Brexit task force to support businesses. Delia, meanwhile, called for a review of Malta’s trade agreements to ensure they are beneficial to local businesses.
5. The Green Economy: A New Opportunity
The leaders were unanimous in their support for the transition to a green economy, seeing it as an opportunity for Malta’s SMEs. Grech proposed a green entrepreneurship fund to support innovative green businesses, while Delia called for more investment in renewable energy. Abela highlighted the government’s ongoing efforts to reduce Malta’s carbon footprint and support green businesses.
As the debate drew to a close, one thing was clear: the future of Malta’s SMEs will be a key battleground in the upcoming election. With each leader offering their vision for supporting and growing our local businesses, it’s up to us, the voters, to decide which path we want to take.
