While 2020 was a tumultuous year for many, it has caused us all to adapt and make quick changes in our business in efforts to preserve and grow our operation.
If we look at the agricultural sector specifically, locals operating agricultural businesses be it livestock, horticulture, or field crops, have been fighting tooth and nail these past few years in order to remain profitable in the face of great challenges. Challenges such as strong competition from foreign imports, inefficient supply chains, income variability, and the not so silent threat of climate change that have made their laborious work that more difficult to carry out successfully.
In this case, careful planning and decision making is essential for such businesses to survive in a market facing such conditions. Actively planning as to what investment in the form of new technology, equipment, training, and licenses are needed to improve their farm operation is vital. This must be done taking into consideration the business’ current and future needs and the cost of such investment in line with the financing options available to them.
For those in the agricultural sector EU funding is a possible financing avenue, with the Rural Development Plan for Malta 2014-2020 allocated a budget of €130 million to address the various needs of the local sector, with the details of the upcoming programme to be announced soon.
Here at EMCS our Advisory team is experienced in helping businesses in this field, and able to assist those operating in the agricultural sector develop their plans into concrete projects and support them in obtaining the necessary funding needed to implement these projects.
Contact us to discuss your future plans +356 2777 2777 or eu-funding@emcs.com.mt
