ReStart 2021 Scheme (Malta Enterprise)

Restart Scheme Eligibility Criteria

• Self-employed, micro enterprises and SMEs;
• The business had to terminate business operations due to the economic disruptions caused by the COVID-19 pandemic between 1st June 2020 and 30th September 2021;
• This scheme falls under the de minimis regulations;
• Firms who are defaulting on VAT, Tax or Social Security payments are not eligible;
• Public entities are excluded from the scheme;
• The business cannot be an “Undertaking in Difficulty“.

• The Restart initiative will support an Advisory Stage and a subsequent Implementation Phase to any recommendations pursuant from the advisory;
• Eligible undertakings may benefit from a maximum grant of €10,000 (disbursed in full) of eligible costs incurred;
• An undertaking can claim up to €200,000 over a 3 year rolling period (De Minimis reguations).

• During the Advisory Stage, support is limited to a maximum of five thousand Euro (€5,000) and up to one hundred and twenty euro per hour (€120/hr) excluding VAT;
• The advisory service must be provided by an individual or a team led by an individual who can demonstrate previous experience in advising and supporting businesses start or restructure operations. The advisor must meet specific criteria set by Malta Enterprise and a list was drawn up by The Malta Chamber of Commerce, Enterprise and Industry for convenience. CMG Consulta Consultants are on the Approved List of Advisors;
• Beneficiaries are to complete the Advisory Stage within three (3) months of the Corporation’s approval;
• The advisory service provider must agree to an hourly charge-out rate (max €120/hour). The advisory service provider will be required to maintain time sheets depicting the work done in favour of the Beneficiary and to compile a report highlighting the main recommendations and eligible costs that the Corporation may consider supporting during the Implementation phase.

• The outcome of the advisory and the recommendations for implementing the required changes communicated to the Corporation in the Advisory Report can trigger the request for additional support to kick-start the change process;

• If undertaken, the Implementation Stage, must follow the advisory stage and be applied for when claiming for the advisory cost reimbursement;

• This Stage shall give access to a further five thousand Euro (€5,000) of support;

• During this phase, the Beneficiary can receive part financing of eligible costs incurred for the implementation of the recommendations highlighted by the advisory service;

• If the investment costs are approved and deemed eligible by the Corporation, a Letter of Approval will be issued to the Beneficiary approving support for the carrying out of the Implementation Phase;

• In addition, out of five thousand Euro (€5,000) of support available for the Implementation Phase, up to five hundred Euro (€500) of this funding can be utilised to part-finance additional advisory support required during the Implementation Phase.

• Only costs incurred after the Corporation evaluates the Advisory Report and issues a further Letter of Approval specifying the terms and conditions of any additional funding, shall be eligible.

• items or services procured from parties related to the beneficiary;
• items or services (excluding advisory approved under this scheme) procured from the advisory service provider or parties related to the provider;
• costs related to ongoing continuous or periodic activities;
• costs related to export activities;
• costs related to the undertaking’s usual operating costs, such as routine tax consultancy services, regular legal services, or advertising.

• The scheme was launched in 2021 and closes in 31st October 2022.

• Call BusinessFirst to ensure that you are eligible for the ReStart Scheme.  They will also provide the application form should you be available;
• The selected Advisory Service provider will have to provide you with a quotation on the Quotations Template provided by the Corporation. The quotation shall clearly define the advisory services agreed to, the hourly rate and the time allocated for the task;
• The applicant is to apply online on the Malta Enterprise Client Portal;
• The application consists of an application form where the applicant will need to detail a business justification for the project as well as information on how the project will be run and measured;
• Malta Enterprise is to review the application and issue a letter of approval specifying the terms and conditions of the award;
• Once the letter of approval is received the work can start to be carried out and needs to be completed within 3 months;
• In submitting a claim, the applicant needs to submit fiscal documentation, proof of payment, timesheets, and an Advisory Report on a template provided by the Corporation. The summary Advisory Report shall highlight the main findings of the advisory, the recommendations and a list of investments that are needed to facilitate the implementation of the recommendations.