Business owners are aware that, the key factor to the success of their business is the amount of time, money and effort which they put into it. Therefore, finding resourceful and affordable products is great, but sometimes, in order to take your business to the next level, certain investments will be necessary to continue to grow. Whether you’re investing in products and software to help run your business more efficiently, strengthening your business plan, or outsourcing tasks, always work to ensure the best return on investment.
Website Development
With the emergence of new technology, building a powerful online presence is no longer optional for businesses nowadays it is vital. Customers across all sectors make use of the internet to find solutions to their problems, answers to their questions, as well as for convenience. Therefore, looking for the right companies that create websites in order to develop a tailor made website which will attract the right clientele is crucial.
Unfortunately, as the saying goes, money doesn’t grow on trees, and this rings true in the eyes of many business owners, especially SME's. However, there is now funding available specifically designed to promote the development and expansion of businesses! How great is that? Thankfully, there are also many great companies that make websites to help you grow your business. Here are two suitable funding schemes:
Micro Invest
The first scheme on the list is the Micro Invest. This encourages businesses such as start-ups, family businesses and self-employed to invest in their business, in order to promote innovation, expansion and the development of their operations. This measure has existed since the 1st of January 2014 and has supported local businesses through a tax credit calculated as a percentage of eligible expenditure and wages costs. Malta Enterprise will approve a tax credit equivalent to 45% of eligible expenditure. An additional bonus of 20% (that is a total of 65% tax credit) applies to undertakings operating from Gozo. You can find more information on eligibility and applying here.
ERDF eCommerce Grant
The Business Enhance European Regional Development Fund (ERDF) Grant Schemes support enterprises which seek to undertake investment projects. These ERDF schemes are aimed at securing sustainable business growth, by becoming more competitive, innovative and adapting to market challenges.
The ERDF focuses on the integration of e-Commerce through online sales which will enable enterprises to open up their business to new markets. The eligible actions include:
- Design, development, implementation and delivery of an e-commerce website and/or a mobile application;
- Upgrade of an existing website or mobile application to enable online sales.
The maximum grant provided by the ERDF 50% of the total project cost with a maximum of €5,000, with the private enterprise financing the other half/remainder of the cost. The ERDF is managed through an open rolling call i.e. applications may be submitted at any point in time as long as the grant scheme is open for applications (periodical cut-off dates will also apply).
The ERDF also includes; Business Enhance RD&I Grant Scheme, the Start-up Investment Grant Scheme, SME Growth Grant Scheme, the SME Diversification and Innovation Grant Scheme, the SME Internationalisation Grant Scheme, the e-Commerce Grant Scheme. More info about the ERDF can be found here.
How can you secure your funding?
Eligibility for funding is only one piece of the puzzle. Another important step is properly sourcing companies that make websites and ensuring they will help you be successful in your application. When looking for companies to develop your website, it is vital to contract trusted companies that make websites which are tailor made for your specific business needs, which also ensure that you get the most out of this important medium. However, finding and deciding between the large plethora of companies that make websites is quite a challenge.
We at NIU also believe in helping accommodate our clients to the best of our ability. It is safe to say that we offer more expertise and support to our clients than the average companies that make websites. We also provide flexible payment terms where necessary. All these are important things to keep in mind during your search for companies that make websites, before you enter into any binding contracts with a web development company.
We have also done a number of CSR campaigns in the past, where we created the following websites for some important causes that are close to our heart. These include HopeXchange Medical Center which works to alleviate suffering in developing countries through education, healthcare, and sustainable development. Another is the Alfred Mizzi Foundation which promotes education, safeguarding the environment, and protecting Maltese heritage. Not to mention, the GHD Foundation which is a foundation for global human dignity which deals with issues such as human rights, inclusion, as well as health and education. We also supported Voices and The Duke Of Edinburgh's International Award Malta.
Closing Statements
Realistically, there are an endless number of reasons why investing in your business is important. Having to worry about the expenses associated with developing your business can be draining. These grants and schemes will provide you with a great chance to focus on the important things which take your business to the next level.
Whether you need to build a brand new website, have an old one that needs to be revamped or have an idea that’s still in its early stages, we've got you covered. Our team can offer you our exclusive web design and development services.
For other information about other important topics such as Wordpress, read bout the 5 things to keep in mind when investing in a website. You can also reach out to us for more information and advise below.
