Senior Executive Daniel Debono represented the MBB in a meeting with European Commission Vice President Vladis Dombrovskis, who is responsible for the Euro and Social Dialogue.
In the meeting, Mr Debono presented the issue of access to finance for SMEs in Malta and the need for the diversification of credit instruments on the island. He also made reference to the report, published by MBB, on Market Gaps and Access to Finance, which clearly indicates how enterprises struggle to raise finance, especially in the early stages of the business lifecycle. Moreover, even when they do manage to source finance, such as from bank loans and overdrafts, this does not imply that this type of instrument meets their business need at that particular stage of business development.
Mr Debono then explained how Maltese businesses need to tap further into the capital markets and make use of financing instruments such as venture capital, business angels and crowdfunding.