The European Union is working hard to encourage and support the transition for business to become more digitally and environmentally conscious and sustainable long-term. It aims to become the first climate-neutral bloc by 2050.

Such a transition will provide businesses with the opportunity to grow, be more competitive within their market niche and improve economic sustainability as well as nurture and promote environmental consciousness. This is not an easy feat and requires a substantial investment and commitment from EU, national public, and the private sector.  Malta Enterprise recently announced two schemes aimed at supporting businesses financially to further encourage and incentivise the adoption of this transition.

1. Smart and Sustainable Investment Grant

This grant offers the opportunity to receive a 50% reimbursement of up to €50,000 and tax credit of up to €20,000. Through this scheme, businesses can benefit from financial support for investments aimed at achieving more sustainable and digitalized processes through activity resource optimisation.

2. Change to Grow Incentive

This scheme serves as precursor to the aforementioned scheme and gives businesses a maximum grant of €10,000 to reimburse 75% of eligible costs incurred when getting Advisory services to assist with the adoption of the transition towards a more sustainable future.

For more information on how you and your business can benefit from the newly announced schemes, contact us on freesupport@businessdoctorsmalta.com.