The challenges brought about by the pandemic and future challenges as a result of the ongoing geopolitical tensions, will likely mean that family businesses need to be able to navigate choppy waters for a number of years. To be able to do so effectively family businesses need to be better structured, more strategic and more agile. To this extent the family business committee within the Malta Chamber has set the offering of targeted training for family businesses as its primary goal.
Session 1 – What is so special about Family Businesses
The 1st Session outlined what made Family Businesses different than other types of Business and the strengths and weaknesses of such businesses. This Session had interesting interviews with Joanna Gatt from Vivian Corp and Paul Borg Bonaci from Elia Caterers. Click Below to view the video of the first session and click HERE to read the presentation itself.
Session 2 – Designing the Family Business Ownership
The way family businesses got about designing the type of family ownership has implications on the long-term health of both the business and the family. So it is very important that as a family business owner you understand how to go about it well and its implications. This Session had interesting interviews with Isabelle Debattista from Mirabelle Holdings and Natalie Briffa Farrugia from Vassallo Group. Click below to view the video of this second session and click HERE to read the presentation itself.
Session 3 – Governance Structures of Family Businesses
Time and again, family businesses underperform and slide into chaos when they fail to learn how to make good decisions together and to have adequate governance structures that balances the need to control with the need with the need to delegate responsibility. This Session had an interesting interview with Natalie Briffa Farrugia from Vassallo Group. Click below to view the video of this third session and click HERE to read the presentation itself.
Session 4 – The need for a Strategic mindset in Family Businesses
To form the basis of any Family Business Strategy, family businesses need to be clear on articulating a compelling purpose, translating that purpose into specific goals and defining safety checks to keep the family business from veering off course. This Session includes interesting interviews with Denise Micallef Xuereb from AX Group and Alistair Buttigieg from Universal Import & Export. Click below to view the video of this fourth session and click HERE to read the presentation itself. Click Here to view Session 4
Session 5 – Effective Communication and Proper Information Flows in Family Business
Family Businesses need to become data driven organisations. To do so they need to have a culture that basis its decisions on data. Moreover family businesses need a strategy to guide the business on what data to share with whom. This Session includes interesting interviews with Karl Sullivan from Sullivan Maritime and Alistair Buttigieg from Universal Import & Export. Click below to view the video of this fifth session and click HERE to read the presentation itself. Click Here to view Session 5
Session 6 – Succession Planning in Family Businesses
The 6th Session of the Family Business Training, deals with the mother of all topics when it comes to Family Businesses – Succession Planning. Succession planning is a journey not an event and no succession planning can take place if the family business has not sorted out matters with regards its corporate governance, strategy, structure, information and communication. This is why we are dealing with Succession Planning now, in this training, after we have dealt with all the other subjects in previous sessions.This Session includes interesting interviews with Dr. Joe Gerada the family business office regulator, Marcel K. Mifsud from Pharma Cos and Ian A. Portughes and Jean Portughes from Portughes Laundry & Dry Cleaning Ltd.
Click below to view the video of this sixth session and click HERE to read the presentation itself. Click Here to view Session 6
Session 7 – Various and very particular challenges that are always present in Family Businesses
The 7th Session and last Session of the Family Business Training, deals with a number of Family Business Challenges – Family Employment, Preserving Family Wealth, Conflict in Family Business and Risks of Losing the Family Business. This Session includes interesting interviews with Dr. Joe Gerada the family business office regulator, Marika Tonna from Business First, Sam Borg from Bortex and Hugh Arrigo from Attard & Co.
Click below to view the video of this seventh session and click HERE to read the presentation itself.
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