Selected Funding Schemes Overview
CMG Consulta are familiar with several funding schemes that are available for Maltese businesses (self-employed, SMEs and larger businesses) to tap into to get assistance for specific investment or projects that they could be embarking on. The discussion on schemes sometimes sounds confusing and daunting and CMG Consulta firstly understand what the client’s business needs and objectives are before actually embarking on an investigation of what funding can be applicable to the client in question. In considering funding, it is important to consider, that what is important to the business are the strategy, future plans, and objectives and not the funding. This means that the driving force of all discussions needs to be the business needs and direction with the funding following on once these have been established. It does not make sense, for example, to simply initiation a discussion on funding purely to tap the funds without being driven by the business’ direction.
The Maltese Government provides several funding schemes to local industry (self-employed, SMEs and larger companies) to assist investment in areas that the Government is trying to grow or support.
In addition to these schemes, the European Union (EU) also provides funding schemes, some of which can also be accessed via Malta Enterprise. Different industries could also have specific industry-specific schemes available to them through other entities. CMG Consulta can help a business identify relevant schemes from a number of selected funding schemes that CMG Consulta are familiar with and they can also assist with the project definition, planning, application and monitoring of the project.
Follow our Insights section to get to know more about specific funding schemes. The bottom of this page shows the related Insight entries.
Process of Delivery – Selected Funding Schemes
When considering funding schemes, the main aspects to the process are the following:
1. Business Need Definition
A discussion with the owners and management on what the business needs are, what investment projects are required and why as well as the benefit of these projects. Any funding would need to be investigated in the light of this direction.
2. Scheme Exploration
CMG Consulta will look into several schemes in the light of the investment that the business needs to make, and these are then presented to the owners and management together with the potential benefits of each.
3. Application Preparation and Submission
Should the owners and management decide that an application should be submitted for this funding, CMG Consulta can assist in documenting the project as well as preparing the application. The client can then submit the application directly.
4. Project Monitoring
Should the client so wish, CMG Consulta are able to monitor the project operation, documentation and filing to ensure that it is being run in line with the scheme’s guidelines and requirements and that all documentation and filing is being collected on an ongoing basis therefore ensuring that all paperwork is in order for any audits and for eventual claiming of funds.
Selected Funding Schemes - Typical Clients
Typical clients for the Selected Funding Schemes Service are self-employed individuals, SMEs and larger companies who would like to embark on some investment or project and are interested to look into how funding can be tapped to assist their expenditure.
Benefits of Selected Funding Schemes
Assistance in Funding
Businesses always need to invest to operate and grow. Tapping into funding can slightly ease the load since a scheme might be able to cover part of the investment for the business provided the business is eligible for the scheme in question.
Carrying out Projects on the Wish List
Most businesses have projects or investment on their wish list and these are placed on the back burner since funds are not available. If a business is able to tap into funding and to therefore fund a percentage of the project, then a project that was shelved due to lack of funds might be able to be implemented and the business would be able to enjoy the benefits of the investment.