ReStart scheme guidelines
Deloitte Malta Gi3 Alert
14 July 2021
Malta Enterprise has launched the incentive guidelines in relation to the ReStart scheme (the ‘Scheme’) intended to support business that were required to terminate operations due to the pandemic, by encouraging access to advisory services with a view to restarting business operations through the provision of a full reimbursement of costs up to €5,000 and an additional grant of up to €5,000.
The Scheme is available to self-employed, micro, and small or medium-sized enterprises that had to terminate their business operations due to the pandemic, during the period between 1 June 2020 and 30 September 2021.
During the advisory stage, costs related to a qualifying advisory services may be supported, up to a maximum cost of €5,000 and up to €120 per hour (including VAT). This stage is to be completed within 3 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.
The implementation stage, if undertaken, must follow the advisory stage and gives access to a further €5,000 of support. This will be in respect of the costs of implementing the recommendations highlighted during the advisory stage.
Malta Enterprise shall consider as eligible, any costs required to restart the business that are not related to assets or stocks. These could include rent, marketing, recruitment services and other similar costs required to restart operations.
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 6 months from date of approval.
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.