Many would think that spending time to identify the Purpose, Mission and Values of any business organisation is a sheer waste of time. I beg to differ. Business Leaders or Owners who still think that way, are likely stuck to a perception of reality surrounding them, that has long gone by. These things are important. …
Every Family Business needs a functional and competent Board of Directors
In the coming days, a project I have been working hard on, together with the team at EMCS, will kick-off. The first cohort of the accredited course as an Award in Leading a family Business will start their journey next week. Amongst one of the first topics to be covered in Module 1 is Corporate …
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Budget 2024 – An Overview
Below please find an overview of the salient points with regards the 2024 Budget just presented this evening. Macroeconomic Overview Malta’s economy is expected to grow by 4.1% in real terms by end 2023. Inflation in Malta for 2023 is expected to be 5.7% In 2024, Malta’s economy is expected to grow by 4.2% (real …
Change Yes…but Later
I would most probably be a richer man, if I where paid some EUR 10, every time a family business owner told me "Yes I agree with your new proposed way forward....but now is not the time for it...maybe later". All this reminds me of Malta's mega traffic problem. We all know we need to …
Employers’ Top Priority for Budget 2024 – Controlling Inflation
In the past days, I was running a survey amongst employers on their top priorities that they believe the upcoming Budget 2024 should be addressing. Whilst I cannot claim that the results are based on a scientific representative sample, I managed to collect responses from 51 different employers, which allows us to get at least …
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Mindset – Award in Leading a Family Business
Family Businesses many times operate with an operator's mindset, focused on achieving operational excellence and hence to keep the system running well. The formula for enduring success for many family business has largely been based on maintaining their competitive edge in business by emphasizing quality and making slow but steady improvements and hence grow within …
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Succession Planning for Family Businesses
This morning I enjoyed immensely speaking at the Transeo Summit. Besides speaking on the need for family business to become more strategic and beefing up their corporate governance, I spoke extensively on the needed for family businesses to think ahead on succession planning and to treat it as a journey and not an event. I …
Monitor your Liquidity
As if the world has not been through enough in the past 3 and a half years, we now have yet again a major conflict in the middle east. Besides the tragic loss of precious life brought about by every war and conflict, just like the other raving war between Ukraine and Russia, the effect …
Transeo Summit
If you have been following my articles on this Blog and my various economic analysis articles, I have been indicating that we are now likely entering a less buoyant economic cycle. This puts more importance to have family businesses shape up and sharpen their pencil on all fronts - be it corporate governance, strategic planning, …
Are you Ready?
The latest Economic Update issued by the Central Bank of Malta indicates that in August 2023, the European Commission’s Economic Sentiment Indicator (ESI) for Malta fell to 102.5, from 107.7 in July. In month-on-month terms, sentiment decreased across all sectors. This Economic Sentiment Indicator is made up of various confidence indicators as shown in the below graph, which outlines the performance of each confidence indicator from January 2022 to August 2023. As seen above, in August 2023 the confidence indicator for the services sector fell below its long-term average of 19.6. decreasing to 5.7 from 23.5 in July. This was largely driven by a negative assessment of the business situation over the past three months. Moreover, confidence in the retail sector stood at 18.3, below the 23.5 recorded in the previous month, but still above its long-term average. …
A Business Blog for SMEs & Family Businesses 