Malta Enterprise launches scheme to help businesses navigate their way through Brexit

Malta Enterprise will be providing advisory support to local businesses operating in the UK market, through its new ‘Get Ready’ scheme, Economy minister Chris Cardona announced on Monday.

The scheme has been purposely designed to provide advisory support to Maltese businesses to get ready for the various possible future trade relationships that may arise between the EU and Britain after it’s exit from the union in March next year.

The assistance will be granted in the form of a cash grant covering 50% of the costs for advisory services.

Cardona said the ministry was doing its utmost to help Maltese businesses ensure as easy a transition as possible. The scheme, he said, would act as an important “foundation block” for such businesses going forward.

The minister was speaking during a business breakfast on the threats, challenges and opportunities from Brexit, hosted by Malta Enterprise, the Chamber of Commerce and GRTU, where he welcomed the agreement reached between the EU and the UK, adding that the deal gave Maltese citizens residing the UK peace of mind about their status.

“This was always our main priority as we have always said that people should not become bargaining chips,” Cardona said.

He added that a deal was important because it includes a transition period. “This will provide peace of mind for our businesses as it confirms that there will be a smooth transition to the future relationship between Malta and the UK,” the minister said. “It also gives businesses some breathing space within which they would be able to operate, for the most part, as they had before Brexit came into effect.”

Cardona outlined that in the face of a worrying rise in protectionism, both the EU and the UK must work on delivering new agreements which are in the best interests of the Maltese people. “It is our responsibility as politicians to reach an enduring solution cast in the interests of the people we are elected to serve.”

The event was also addressed by Malta Enterprise CEO Mario Galea and Chief Economist at the Institute of International and Economic Affairs, Dan O’Brien.