The Chamber of Commerce has had a meeting with the economic services minister in which is proposed an improvement of the government's aid to businesses affected by the COVID-19 crisis.

While reiterating its call for the government to extend assistance to all businesses which are experiencing dire loss of business, the chamber argued that public funds should be utilised efficiently to incentivise companies to gear themselves to ensure resilience and viability in a different, post-Covid, world.

"It is now more essential than ever before that companies should be incentivised to work hard to become more innovative and resilient in order to grow and develop further in a competitive international market with fast-changing dynamics," the chamber said.

The chamber also proposed a new advisory scheme for support on the development of professional business plans to re-engineer objectives, structure and operations. The new scheme should include the possibility for all companies to access expert advice on business reengineering.

The chamber’s proposals included a call for short-term support measures to help companies innovate their operation, retrain and invest in technology and equipment.

It also called for amendments to the Companies Act to provide temporary protection to company directors with respect to their obligations and responsibilities related to insolvency.