{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='European funds helping small businesses thrive' data-url='/boclips/videos/6878e10c860c8396ee54d40b' data-video-url='/boclips/videos/6878e10c860c8396ee54d40b' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nEuropean funds helping small businesses thrive\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca href=\"/search?publisher_ids%5B%5D=\"\u003e/search?publisher_ids%5B%5D=\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eFor this week’s episode of Business Planet, Euronews touched down in Gozo, the second largest island in the Maltese archipelago. We spoke to with Mark here about access to European funding for SMEs , and in particular a system, a tool...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eFor this week’s episode of Business Planet, Euronews touched down in Gozo, the second largest island in the Maltese archipelago.\u003cbr\u003e\u003cbr\u003e We spoke to with Mark here about access to European funding for SMEs , and in particular a system, a tool called the SME Initiative.\u003cbr\u003e\u003cbr\u003e EU financing for small and medium-sized enterprises\u003cbr\u003e\u003cbr\u003e Access to finance can still be a problem for entrepreneurs whether starting up or scaling up. Although the situation is improving, 9% of SMES still see it as a problem.\u003cbr\u003e The EU is working on making access to finance easier for businesses though loans, loan guarantees, microfinance, venture capital and other types of interventions.\u003cbr\u003e One of the tools to help SMEs access funding is the SME Initiative – a joint instrument of the European Commission and the EIB group.\u003cbr\u003e Alongside the European Structural and Investment Funds resources contributed by the Member States, the SME Initiative is cofounded by the EU though COSME and Horizon 2020 resources as well as EIB Group resources.\u003cbr\u003e\u003cbr\u003e It is currently available in Bulgaria, Finland, Malta and Spain, but it may be extended to other countries in the future.\u003cbr\u003e\u003cbr\u003e Useful links\u003cbr\u003e\u003cbr\u003e Access to finance portal\u003cbr\u003e More about the SME Initiative\u003cbr\u003e More about COSME\u003cbr\u003e\u003cbr\u003e Innovfin\u003cbr\u003e\u003cbr\u003e Euronews – Serge Rombi\u003cbr\u003e\u003cbr\u003e So, your job involves making the connection between your bank – which is the Bank of Valetta- and European institutions. Tell us how it all works.”\u003cbr\u003e\u003cbr\u003e EU Affairs, Bank of Valletta – Mark Scicluna Bartoli\u003cbr\u003e\u003cbr\u003e “At the Bank of Valetta, we have a strong working relationship with the European Investment Fund, which basically allows us to ease access to finance for Maltese or Gozatian SMEs through the provision of European Union guarantees to business loans which we provide.”\u003cbr\u003e\u003cbr\u003e Serge Rombi\u003cbr\u003e\u003cbr\u003e “Well, listen, let’s see a concrete example from right here in Gozo.”\u003cbr\u003e\u003cbr\u003e We headed to one of the most innovative SMEs in Gozo.\u003cbr\u003e\u003cbr\u003e The aluminium and PVC windows manufactured at this plant meet the strictest European environmental standards and the machines used are the most efficient on the market.\u003cbr\u003e\u003cbr\u003e It was thanks in particular to a loan secured by Mark’s bank that this SME was able to invest in this equipment. The bank guarantee for this loan was obtained through the SME Initiative.\u003cbr\u003e\u003cbr\u003e Our reporter caught up with Margie Saliba, the CEO of Technological Innovations.\u003cbr\u003e\u003cbr\u003e Serge Rombi\u003cbr\u003e“Margie, why accessing to this guarantee was so important for your business?”\u003cbr\u003e\u003cbr\u003e CEO of Technological Innovations – Margie Saliba\u003cbr\u003e\u003cbr\u003e “It was very important. It’s our key element to access finance, and to develop really faster…”\u003cbr\u003e\u003cbr\u003e Today this company markets its windows throughout the Maltese archipelago, but a quarter of its turnover comes from the rest of Europe. New markets, new customers, but also employment for the people of Gozo.\u003cbr\u003e\u003cbr\u003e Margie Saliba\u003cbr\u003e\u003cbr\u003e “Currently, the level of employment counts up to 50 persons. And it is expected to be doubled by 2018.”\u003cbr\u003e\u003cbr\u003e We left Margie to find out more about what this initiative has meant to Gozo and its inhabitants.\u003cbr\u003e\u003cbr\u003e Serge Rombi\u003cbr\u003e\u003cbr\u003e “So Mark, we’ve just seen this type of European tool takes on a very special meaning on an island like Gozo.”\u003cbr\u003e\u003cbr\u003e Mark Scicluna Bartoli\u003cbr\u003e\u003cbr\u003e “Yes. Actually, enhancing access to finance to Gozatian SMEs is key to ensuring that an entrepreneurial and startup culture within Gozo is sustained.”\u003cbr\u003e\u003cbr\u003e The SME Initiative is a system that currently exists in 4 European countries. Here in Malta, as well as in Spain, Finland and Bulgaria. \u003cbr\u003e\u003cbr\u003e But this bank guarantee tool could well be extended to other countries in the Union.\u003cbr\u003e\u003cbr\u003e There are, by the way, other types of European funding available for SMEs . For example via loans, microfinance, or venture capital.\u003cbr\u003e\u003cbr\u003e Serge Rombi\u003cbr\u003e\u003cbr\u003e “Mark, in concrete terms, how could an entrepreneur benefit from this type of European funding tool?”\u003cbr\u003e\u003cbr\u003e Mark Scicluna Bartoli\u003cbr\u003e\u003cbr\u003e “I think the first point would be, he would need to find his local financial intermediary in his country, such as a bank. And I would say the second point is to present a strong business case.”\u003cbr\u003e\u003cbr\u003e Serge Rombi\u003cbr\u003e\u003cbr\u003e “Thank you very much, Mark.” More on the business planet’s webpage and on our social networks. We’ll see you again very soon for the next episode.\u003cbr\u003e\u003cbr\u003e #BusinessPlanet filming completed in #gozo #malta see you soon on euronews cc EU_Growth SciclunaBartoli pic.twitter.com/vNg4Xv9qIX— Serge Rombi (SergeRombi) May 18, 2017\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\" out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=93100375\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003eAll Grades\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSource:\u003c/dt\u003e\n\u003cdiv class='preview-source' data-animation='true' data-boundary='.rp-info' data-container='.rp-resource-details' data-html='false' data-title='The latest news and analysis on the economy, business, and markets from a European perspective' data-trigger='hover focus'\u003e\n\u003cspan\u003eEuronews Business\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-circle-info channel-tooltip-icon' id='channel-tooltip'\u003e\u003c/i\u003e\n\u003c/div\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-language'\u003e\u003c/i\u003e\n\u003cdt\u003eLanguage\u003c/dt\u003e\u003cdd\u003eEnglish\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eUsage Permissions\u003c/dt\u003e\u003cdd\u003eFine Print: Educational Use\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-materials-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='additional-materials-heading'\u003eAdditional Materials\u003c/h2\u003e\n\u003cdiv class='additional-material'\u003e\n\u003ci aria-hidden='true' class='fai fa-solid fa-lock'\u003e\u003c/i\u003e\n\u003ca class=\"text-muted\" title=\"Video Transcript\" data-html=\"true\" data-placement=\"bottom\" data-trigger=\"click\" data-content=\"\u003cdiv class=\u0026quot;text-center py-2\u0026quot;\u003e\u003ca class=\u0026quot;bold\u0026quot; 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