According to a Business Performance Survey conducted by the Malta Chamber of SMEs, it was discovered that 6% of SMEs are planning to expand their business overseas in 2023. The survey found that 39% of respondents said 2022 was better than 2019 (pre-pandemic), with 53% of small and medium businesses registering an increase in sales when comparing festive season of 2021 vs festive season of 2022.
It was also reported how 35% reported satisfaction with their turnover during 2023 so far. 39% of respondents remain hopeful and report how they think that 2023 will be better. However, 18% of respondents are fearing it will be worse when compared to 2022.
Still, 21% are planning to expand their business in Malta during 2023 to reach out to new markets. If you wish to read the full study, follow this link.
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