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. …
Author: Silvan Mifsud
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 …
Governance First
The topic of ESG (Environmental, Social and Governance) is fast picking up. Many family businesses and SMEs in Malta are oblivious to the changes this will bring with it at all levels - just to mention one, investors and finance providers, including banks, will likely start including ESG based criteria to determine whether to provide …
A Successful Succession
The days where family businesses could afford an amateur approach or a sloppy performance are long gone. In today's world, having a professional approach and a team of people leading the business, who are skilled and motivated, has become a necessity. Yet I still see many family businesses bringing in family members in the business, …
The difficulty of Delegating (properly)
As you might recall I have written various articles on the perils of micromanagement in the past. Many times managers or business leaders who tend to be micromanagers, find it very difficult to delegate and to do so effectively. So, why is delegating so difficult and how can it be done properly? I see this …
A Business Blog for SMEs & Family Businesses 