The Business Enhance Investment Grant is a strategic financial measure designed to foster the growth and resilience of enterprises by supporting significant capital investments. Recognizing that long-term success hinges on the ability to modernize and scale, this scheme provides the necessary capital to facilitate expansion, diversification, and operational innovation. By offering non-repayable grants, the program assists undertakings in enhancing their overall productivity and competitive edge within the domestic and international markets.
Core Investment Objectives
- Support for initial investments required to establish or significantly upgrade business operations.
- Facilitation of expansion projects aimed at increasing the existing capacity of an undertaking.
- Funding for diversification strategies that allow enterprises to produce new products or enter untapped market segments.
- Encouragement of operational innovation to streamline business processes and integrate advanced technologies.
- Enhancement of general productivity through targeted financial assistance for capital expenditure.
Financial Framework and Budget
- Total scheme budget is established at €6,000,000.
- Funding is provided in the form of non-repayable grants, reducing the financial risk for the beneficiary.
- The grant serves to part-finance eligible investment costs, requiring a co-investment from the undertaking.
- Allocation is managed through a structured financial mechanism that tracks funds from the program level down to individual invoices.
Digital Management and Monitoring Systems
- Use of centralized information systems developed by the Ministry responsible for EU Funds to manage bilateral and European agreements.
- Maintenance of computerized records for every project to ensure rigorous monitoring, evaluation, and financial management.
- Storage of accounting records detailing expenditure declared to the European Commission, including recoverable and withdrawn amounts.
- Integration of multiple stakeholders, including Managing Authorities, Audit Authorities, Certifying Authorities, and Intermediate Bodies.
- Provision of a dedicated Structural Funds Database for beneficiaries to manage co-financed operations and publicity requirements.
Regulatory Oversight and Standard Operating Procedures
- Oversight by the Planning and Priorities Coordination Division (PPCD) acting as the Managing Authority.
- Implementation of projects under the European Regional Development Fund (ERDF) and the Cohesion Fund.
- Adherence to regulations governing the Just Transition Fund and the Recovery and Resilience Facility.
- Management of social and aid-based initiatives via the European Social Fund (ESF) and the Fund for European Aid to the Most Deprived (FEAD).
- Compliance with established Standard Operating Procedures to ensure transparency in audit, verification, and reporting.
Application and System Access
- Beneficiaries of the 2014-2020 programming period utilize a specific application form for Structural Funds Database access.
- Stakeholders and beneficiaries under the 2021-2027 period and the Recovery and Resilience Facility follow a distinct request process for system access.
- Access is granted to horizontal stakeholders, including Line Ministries and the Strategy & Implementation Division, to facilitate cross-departmental coordination.
- System requirements ensure that data necessary for audit and evaluation is maintained in line with European Union regulations.
By providing a robust financial foundation alongside a transparent and technologically advanced management framework, this initiative empowers Maltese enterprises to realize their expansion goals. The program ensures that strategic investments are backed by a reliable administrative infrastructure, allowing businesses to focus on driving innovation and economic value. Through the effective deployment of these funds, the local ecosystem continues to evolve into a more productive and globally competitive environment.