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Paul Abela reconfirmed as Malta Chamber of SMEs President - The Malta Independent

Paul Abela reconfirmed as Malta Chamber of SMEs President - The Malta Independent
independent.com.mt - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from independent.com.mt Daily Mail and Mail on Sunday newspapers.

Solving the electricity challenge together

We need long-term planning, patching up distribution network to solve the problem of power cuts

Criminal liability can only be imposed if the formal and material conditions exist concurrently

The prosecution must prove that both the material element and the formal element of the crime existed at the same time for a person to be held criminally liable

Majority of Malta s SMEs see bleak future beyond 2021: survey

VALLETTA, Jan. 28 (Xinhua) The majority of small and medium-sized enterprises (SMEs) in Malta saw a bleak future for their businesses due to the onslaught of the COVID-19 pandemic, with two-thirds of them saying they did not see their company surviving beyond 2021, a survey published Thursday revealed. Of the 230 businesses surveyed by the Malta Chamber of SMEs between Jan. 18 and Jan. 24, more than a quarter said that their biggest concern was the low level of sales. Lack of cashflow and difficulties chasing and collecting payments for services rendered were also major concerns. Asked how long they think their business can survive in the current situation, taking into consideration the amount of help provided by the government, only a third said they believed they would last longer than 12 months. Thirteen percent said they would only last three months while another 28 percent said they hoped they would survive until summer.

Two of three believe business will not survive beyond 2021

Two-thirds of small and medium enterprises do not see their business surviving beyond this year, under the circumstances brought about by the COVID-19 pandemic, according to “shocking” survey results.  The biggest concern of 230 businesses that participated in a survey by the Malta Chamber of SMEs is the low sales levels (26%). This concern was followed by worries about cashflow (17%), and difficulty in collecting payments (15%). Asked how long they think their business can survive in the current situation, taking into consideration the government’s aid, only a third said they believe they will last longer than 12 months. A total of 13% said they will only last three months, while another 28% hope they will survive until summer.

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