Malta Enterprise has launched the Business Re-Engineering and Transformation Scheme that is aimed at “…supporting Small to Medium-Sized Enterprises (SMEs) to re-align their business activity, restructure their employees, product and/or service portfolio, optimise the use of technology and embrace green technology and practices. SME’s with a vision to develop can seek support from external advisors to assist them in carrying out significant changes that will enable them to accelerate development and improve market access. ”
The scheme allows SMEs to carry out strategic projects by using Advisors who are approved and on a recommended list. CMG Consulta Advisors are actually on this list. The SME will then be eligible to claim for a portion of the funds within the limits defined in the scheme.
Eligibility Criteria
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SMEs having between 10 and 250 employees;
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Firms who are defaulting on VAT, Tax or Social Security payments are not eligible;
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Public entities are excluded from the scheme;
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The business cannot be an “Undertaking in Difficulty“;
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This scheme does not fall under the de minimis scheme.
Aid Awarded
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The aid is a cash grant of 50% of costs incurred up to a maximum of €5,000 per advisory service per undertaking in an 18 month period;
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Beneficiaries may only be supported through this measure once in any eighteen-month period;
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The scheme was launched in September 2020 and closes in 31st December 2023;
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The eligible costs are the cost of consultancy fees.
Summary of Rules
Projects need to be strategic and they need to address one or more of the following objectives (Quoted from scheme guidelines):
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“Digitisation of business processes including the deployment of digital technologies, such as IoT, artificial intelligence, machine learning and predictive analytics;
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Improve operational performance, reduce errors and improve accountability following a review processes to identify inefficient use of resources.
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Improvements to the flow of goods, materials and/or information following a review of the interaction between functions.
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Improve environmental performance by identifying waste streams and resource usage.
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Support the implementation of quality systems and the attainment of product process certifications.
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Review customer handling procedures and propose solutions to enable excellent customer service.
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Assess market dynamics, fluctuation in demand and changes in consumer behaviour to reposition product and service offering as may be required.“
In addition, projects need to:
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be new assignments and not ongoing or periodic activity;
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use at least 2 approved advisors;
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be completed in no more than 12 months from approval date.
High-Level Process
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Applicants are to obtain quotes from advisors;
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Applicants are advised to ask for at least 2 quotes;
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The application consists of an application form detailing the reason for the project, the project tasks and deliverables as well as the expected outcomes of the service;
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Malta Enterprise is to review the application and issue a letter of approval specifying the terms and conditions of the award;
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Once the letter of approval is received the work can start to be carried out;
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In order to claim the funds, a maximum of 2 claims can be made for projects that are over 6 months long and 1 claim is to be made for shorter projects. In submitting a claim, the applicant needs to submit a report analysing the services rendered and highlighting the key outcomes and followup actions, a copy of a document highlighting the deliverables, tax invoices and associated receipts covering the costs claimed and proof of payment.
CMG Consulta are on the Recommended List of Service Providers for the Business Re-Engineering & Transformation Scheme. We can assist you with reviewing your business model, internationalising, reviewing your product portfolio, improving operational performance, re-engineering business processes and transforming your business. Please get in touch to explore actual opportunities.
This document was prepared based on the Malta Enterprise Incentive Guidelines for the Business Re-Engineering and Transformation Scheme as accessed on the Malta Enterprise Website on the date of publishing.