![45% of Businesses in Malta Face Employee Shortage](https://maltadaily.mt/wp-content/uploads/2024/07/barometer-website.jpg)
45 % of Malta’s SMEs have stated that employee shortage is the most important issue they are facing, according to a study compiled by the Malta Chamber of SMEs and MISCO.
The SME Barometer, which is a quarterly survey which provides insight into economic trends, business sentiment and the state of small and medium sized- enterprises in Malta, was conducted by the Malta Chamber of SMEs in collaboration with MISCO.
The survey had a total of 372 respondents, and was conducted between the 5th – 15th July 2024, with a 4.9% margin of error. The majority of respondents(51%) were business that had one to nine employees, 30% having 10-49, 16% with more than 50+ employees, and 3% having 249 employees and more.
One of the main questions, SMEs were asked what the two most important issues that their business is currently facing are, with employee shortage coming out on top. This indicates that, after being surpassed by worries about an increase in inflation, this issue has taken the top rank among those that require attention. In the first quarter of 2024, the percentage of SMEs pointing towards increase in inflation as one of their primary concerns which stood at 28%. Where as in the recent study it was revealed that it has decreased to 22%.
Employee shortage in particular was a concern as it has increased up to 45% in the small and medium-sized business sector. Other top issues that were identified by SMEs include Unfair Competition (25%), Issues with Late Payments (18%) , and Lower Client Demand ( 17%).
In recent years, companies worldwide, including Malta, have encountered difficulties locating qualified employees due tot tight labour circumstances being fuelled by skills shortages and rising wage demands.
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