Comment: Cash for help

This is just one of a number of problems which local businesses are facing at the moment

“The money from the EU should be spent helping local businesses..” | Marcelo Sastre

Jason MoorePalma15/03/2022 10:08

We need to get a grip...or in our case the regional government and the central administration in Madrid. Prices have risen sharply and inflation is taking hold. The trucker´s strike, eventhough they have a legitimate complaint over fuel prices, is not making matters any easier.

Yesterday, I was at a central Palma hotel, the owner was telling me that vital equipment they had ordered from the mainland would not only be arriving a month late, the cost had almost doubled.

This is just one of a number of problems which local businesses are facing at the moment. The economic slowdown thanks to Covid and now inflation is clear to see in Mallorca. I have never seen so many empty shop-fronts or houses and apartments for sale in central Palma. The Spanish government is receiving a major cash injection from the European Union in the form of loans and aid to kick start the economy following Covid.

The Balearics has been earmarked a sizeable sum of money. Part of this cash should be dedicated to local businesses, especially the self employed. Truck drivers are a classic example especially those who are independent and not part of big companies. Local firms will need help to weather the storm.

The government both in the Balearics and nationally need to put together an act plan to help the business community before it is too late.We are facing very uncertain times and the government needs to put an actionplan in place.