Payment delays and skills shortage worry Maltese

Maltese businesses are the most likely in the European Union to mention payment delays as one of the main problems they were prior to the COVID-19 pandemic.

In the EU, payment delays were the most mentioned problem for businesses in Malta (55%), Cyprus (46%), Greece (45%) and Estonia (34%). At the other end of the scale, only 13% in Sweden mentioned this problem.

On the other hand Malta (47%) and Sweden (40%) were the most likely in Europe to mention lack of skills as the second most mentioned problem. Only 5% of SMEs in Italy mentioned this problem.

Maltese businesses were among the least likely to mention regulatory obstacles and access to finance as the main problems they face.

In 21 EU member states. regulatory obstacles and administrative burdens were the most mentioned problems. The least likely to mention this problem were the Estonians (22%), the Cypriots (28%), the Greeks (31%) and the Romanians and Maltese (33%). The most likely to mention this problem were the Czechs (79%), the Poles (70%) and the French (69%).

While only 16% of Maltese businesses mentioned access to finance as a main problem, the percentage rises to 35% in Spain and 33% in Greece and Romania.

A total of 201 Maltese businesses participated in the survey which was held between 20 February and 9 March, just before the COVID-19 lockdown. The survey, according to Eurobarometer, “provides a benchmark for the pre-COVID period”.