Change to Grow scheme guidelines
Deloitte Malta Gi3 Alert
13 July 2021
Malta Enterprise has launched the incentive guidelines in relation to the Change to Grow scheme (the ‘Scheme’) intended to support businesses in kick starting a transformation process that leads to growth, stability and optimised performance. The Scheme enables self-employed, micro, and small and medium-sized enterprises to realign their business activity, restructure their employees/product/service portfolio, optimise the use of technology and embrace green technology and practices.
The Scheme aims to provide support during the advisory stage of the transformation process and during the implementation of any recommendations emanating from the advice obtained during the advisory stage of the transformation process.
Support in terms of the Scheme shall be awarded by means of a cash grant of €10,000 that is awarded as a reimbursement of 75% of the eligible costs incurred.
During the advisory stage, costs related to a qualifying advisory service may be supported, up to a maximum cost of €5,000 and up to €120 per hour (excluding VAT). This stage is to be completed within 6 months from approval of the grant. To facilitate the process, Malta Enterprise have established a directory of eligible advisors. Deloitte Malta is an eligible advisor.
Malta Enterprise shall consider supporting advisory services in areas that address a strategic shift in an enterprise’s operations, such as:
- Digitisation of business processes;
- Performance optimisation;
- Process improvements;
- Environmental performance and sustainability;
- Implementation of quality systems;
- Product process certifications;
- Customer handling procedures;
- Pricing analysis;
- Market positioning;
- Human resource optimisation; and
- Other actions as may be justified by the applicant.
The implementation stage, if undertaken, must follow the advisory stage and gives access to a further €5,000 of support. This will be granted in respect of the costs of implementing the recommendations highlighted during the advisory stage.
Malta Enterprise shall consider as eligible, costs having a value of at least €500 that have been identified in the advisory stage and that cover the following areas:
- Investment costs in tangible assets;
- Procurement of off the shelf software solutions (including new licences);
- New subscriptions to Software As A Service (SaaS) solutions, covering a period of up to twelve months;
- One-off services or initial engagements covering a period of three months by service providers addressing new solutions to which the beneficiary had no prior access.
Out of the €5,000 earmarked for this phase, €500 may be utilised to finance additional advisory support.
Only costs incurred after approval is obtained shall be deemed eligible and these can be claimed within a period of 12 months from date of approval, following an endorsement by the advisory service provider that the beneficiary is implementing the agreed changes.
In order to benefit from this grant, eligible undertakings are required to submit their applications by 31 October 2022.
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How can we help?
Deloitte Malta is able to assist in answering your queries, so please do not hesitate to reach out to us for any further guidance you may require.
In addition, Deloitte Malta is able to assist with the preparation of the required applications and any supporting documentation, as well as document submission and any required follow-ups.