Politicians may be giving you the impression that there is something like a free lunch. The reality is that the success or otherwise of your business will depend on the ability of your business to quickly adapt to the many changes the future (near future) will bring with it. As we have seen during the …
Author: Silvan Mifsud
DeGlobalisation?
The invasion of Ukraine by Russia and the sanctions imposed on it for doing so coupled with new pandemic-related shutdowns in China are the latest events to rock global supply chains. This is all leading to an acceleration in the movement by western policymakers and companies to reduce their dependency on China for components and …
Remain Positive
I write this Blog Post Article on the eve of me turning 45. This reminds me that the pandemic is now heading into its third year. Add to that the ongoing war in Ukraine, the almost daily evidence of impending climate disaster and the global supply chain disruption and inflation. So much turbulence and uncertainty …
Be Prepared
The pandemic and its effects seem to have been a dress rehearsal of the effects that the Ukraine - Russia conflict are likely to have on the global economy. This was discussed yesterday in an interesting debate I participated in at the Malta Chamber. You can view a video of this debate by clicking HERE. …
Economic Forecasts
As you have likely heard, the EU commission, has in early February 2022, issued its Winter Economic Forecast. In this forecast, the prediction is that Malta will have the highest GDP growth in 2022, from across the EU block, at around 6%. However, like any forecast, the EU commission's forecast was built on a number …
Data Driven Family Businesses
Many times I am faced by decisions taken by leaders in family businesses and I wonder on which basis where such decisions taken on. I then feel more perplexed when I learn that the family businesses lacks the most basic timely reporting of financial information and key KPIs. Becoming a data-driven organisation requires persistence, resilience, …
The Lack of Strategic Planning in Family Businesses
The phone rings. A family business owner is on the line, speaking to me frantically and all panicked up, as he/she just realised that the business does not have the necessary cashflow to finance the commitments it entered into. Before calling me he/she called their bank for financing and the bank replied that they need …
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Training on Time Management & Prioritisation Skills
This week I delivered a number of Training sessions on "Time Management & Prioritisation Skills" and the feedback received further proved a belief I always had - that mastering time management skills can unleash a huge potential within us to achieve things we always wanted to achieve but somehow never managed, due to some internal …
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Boosting Employee Retention
The high turnover of employees and the difficulty to employ seems to be a recurring issue, that various businesses, including family businesses and SMEs are facing. Research has shown that, due to social contagion, when a team member quits, it can spread to affect other employees’ quitting behaviour - increasing the likelihood that others will …
Lack of Financial Reporting
It has now been 2 years, since February 2020, when I started this Blog that focuses on issues pertaining to Family Businesses & SMEs, with this being my 200th Blog Article. I have recently launched a survey (you can still fill it in) on the issues faced by family businesses and the preliminary results shows …
A Business Blog for SMEs & Family Businesses 