17 Jul The SME Consultancy Services Grant Scheme
As one of Malta’s leading Accounting firms, GCS Malta can assist you with the new SME Consultancy Services Grant Scheme. This scheme is targeted towards micro, small and medium-sized enterprises that support the development of business plans, feasibility studies, organisation and operations review and process and systems review.
In today’s competitive world, consultancy has become a popular feature. SMEs generally have limited in-house resources and competencies required to conduct studies to assist them in their decision-making processes to embark on investment initiatives. Such consultancy can offer enterprises valuable advice on how to run things more effectively and efficiently. This limitation presents a dependency on outsourcing consultancy services when considering businesses face challenges in their operations. Consultancy services can provide business valuable insight on adequate opportunities aimed at future business growth. The scheme supports SMEs through the provision of assistance in the form of a non-repayable Grant that will cover part of the costs incurred for external consultancy services.
The SMEs Consultancy Services Grant Scheme will remain effective until 31st December 2020, subject to availability of funds. It falls under Priority Axis 3 ‘Enhancing competitiveness through investment in SMEs` of Operational Programme 1 2014 – 2020 ‘Fostering a competitive and sustainable economy to meet our challenges`.
External consultancy services shall be procured to support the decision-making process, by assessing and evaluating:
- The potential of re-engineering the organisation and operations, or processes and systems of the Undertaking aimed at rendering it more efficient, resulting in the development of a report in the form of an Organisation and Operations Review, or a Process and Systems Review; or
- The potential of the Undertaking to take on proposed investment initiatives aimed at the potential future business growth of the Undertaking, and at rendering it more competitive through the development of a Business Plan or a Feasibility Study addressing any of the following:
- The economic exploitation of new ideas,
- Expansion in the capacity of the establishment,
- Diversification of the activity of an establishment,
- Diversification in the output of an establishment,
- The fundamental change in the overall production process of the establishment,
- Development of new or improved products, processes and systems,
- Investment in new or improved products, processes and systems,
- Organisation innovation,
- Process innovation,
- The internationalisation of products and services,
- The entry, establishment and expansion into new markets,
- The introduction, upgrading and integration of e-commerce solutions enabling online selling by the Undertaking.
GCS Malta is one of Malta’s leading Accounting firms that specialises in Accounting, Tax, Audit and other related services. GCS Malta can assist you with the new SME consultancy Grant schemes. Get in touch with one of Malta’s leading Accounting firms today by sending us an email on [email protected]