The Malta Business Bureau (MBB) and Bank of Valletta (BOV) have joined forces to conduct a study on whether local businesses are being provided with the right access to finance that will enable them to operate effectively in the EU single market.

The purpose of the study is shed light on Malta’s current access to finance that is being provided by credit institutions to local businesses.

There are many small and medium enterprises (SMEs) in Malta, and the presence of such enterprises is critical for the European economy - however, more research needs to be done in order for them to reach their full potential and this can only be achieved with the right access to finance.

To make matters worse, the economic crisis in recent years has restricted SMEs from gaining access to finance, which is often considered the lifeline for start-ups, enterprise sustainability and business expansion. Therefore “access to finance” is a key action recommended by the European Commission last year, and the study shall further analyse the subject to increase the access.

The assessment study is titled: “Market gaps in access to finance and the feasibility of new financing instruments in the EU, addressing the credit needs of Maltese business”. Consultants are invited to view the Terms of Reference from the MBB website www.mbb.org.mt and submit their application to the Chief Executive Officer on ceo@mbb.org.mt by Friday 28th September 2012.