Malta SMEs cite inflation, labor shortages, and competition as top concerns; Chamber requests VAT reduction, duties removal on essential items, and procurement reform.

Malta's Chamber of Small and Medium Businesses has conducted a survey revealing that businesses are most concerned about inflation, labor shortages, and excessive competition. Other issues include unfair competition, transportation and freight costs, lower client demand, and traffic congestion. A quarter of businesses reported a drop in sales, with 40% citing reduced profitability due to factors such as shrinking customer spending power, higher competition, inflation, and global uncertainties. The chamber has called for measures to address these concerns, including reducing the VAT rate and removing excise tax on certain consumer goods.

February 01, 2024
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