The Change to Grow Scheme intends to support businesses in kick starting a transformation process that leads to growth, stability and optimised performance.
Launched by Malta Enterprise, 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. It provides support during the advisory stage of the transformation process and during the implementation phase as well. Support comes in the form of cash grant of €10,000 that is awarded as a reimbursement of 75% of the eligible costs incurred.
- Enhanced Business Re-engineering and Transformation Scheme
- Criteria widened to include self-employed and micro enterprises
- Double the aid intensity cap from €5,000 to €10,000 for implemented projects
- Specific resources will be dedicated to support scheme take-up
During the advisory stage, supported costs related to a qualifying advisory service are up to €5,000 and up to €120 per hour (excluding VAT). This stage needs to be completed within 6 months from approval of the grant. Malta Enterprise considers supporting advisory services in areas that address a strategic shift in an enterprise’s operations, such as:
- Digitisation of business processes;
- Optimisation performance /or Human resource
- Process improvements;
- Environmental performance and sustainability / Implementation of quality systems / Product process certifications;
- Customer handling procedures / Pricing analysis / Market positioning; 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. Out of the €5,000 earmarked for this phase, €500 may be utilised for additional advisory support. Only costs that incurred after approval are eligible and these can be claimed within a period of 12 months from date of approval. Malta Enterprise considers 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.
Any self-employed person, a micro, small or medium-sized enterprise is eligible, that has at least one full-time employee.
In order to benefit from the Change to Grow Scheme, eligible undertakings have to submit their applications by 31 October 2022, through the Corporation’s client portal.
You can probably benefit from this new incentive, so if you would like to read more about the guidelines, you can do it here.
If you have any questions or should you need assistance with your application, please do not hesitate to get in touch! We will help you with the preparation as well as submission of document and any required follow-ups.