As various business face heavily reduced revenues or zero revenues, managing cash flow is even more important than ever. What must businesses operating in this crisis period do to defend their cash flow, now more than ever before? Watch any credit your are extending EXTREMELY closely: Do you know if any of your customers are …
Preparing your business in Malta beyond COVID-19
As the Covid-19 crisis spreads in Malta, Europe and the U.S., there are opportunities for companies to learn from those in other regions around the world, that are weeks ahead in responding to the epidemic. Many in Malta are busy dealing with the present crisis and worrying as it seems that the help dished out …
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Responding to COVID-19: What companies are missing
In the past few days I was reading the extremely interesting briefing note issued by McKinsey on COVID-19. I invite you all to click on the below link and read it:- https://www.mckinsey.com/~/media/mckinsey/business%20functions/risk/our%20insights/covid%2019%20implications%20for%20business/covid%2019%20march%2016/covid-19-briefing-note-march-16-2020-final.ashx What is most interesting is what they said as how they are seeing that companies are responding to COVID-19. They mention that companies …
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Managing in uncertain times
Uncertainty seems to be the only certainty at the moment. Uncertainty can be scary and lead to anxiety and stress however being able to deal with uncertainty positively is critical as uncertainty and change are part of life. So how can you deal with uncertainty positively? Here are some tips and ideas to help you.Accept …
Managers: The Strength of Keeping Calm
Over the years if there is a mistake I have repeatedly done as a manager and, which I regret, is losing my calm in certain instances. Many employees feel that although they could have had a good job but they just couldn’t take the agitated, excitable, too-high-octane temperament of their boss. To much intensity can …
Are you managing by fear?
It can take time to realise that you work in a fear-based environment. Moreover managers who manage by fear are the least to admit that they are doing so. A fear-based workplace is a place where fear is the predominant energy, whilst a healthy workplace is one where trust is the predominant energy. Trust and …
Why is it important to manage Conflicts of Interest?
When a conflict of interest disclosure reveals a potential, perceived or actual conflict of interest, a management strategy needs to be in place to document and proactively address questions that may arise regarding an individual's objectivity, integrity or professional commitment as a result of the disclosed activity, relationship or financial interest. A Conflict of Interest Management Strategy outlines …
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Does your family business have a succession plan?
Many of the world’s most successful businesses are run by multigenerational families. Walmart, BMW and Samsung are three prominent examples. However while over 70% of businesses are family run, only 30% survive the transition from first to second generation and just 12% making it to the third generation. What is it about family businesses that make them …
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Writing a Business Plan – beyond the financials
I many times come across clients who need a Business Plan for various reasons, many times for bank financing or other funding applications. I however rarely meet any business owner or manager who really understands the value of a good Business plan and that such Business Plan needs to be constantly updated. Business Planning is …
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Common Challenges faced by Small Businesses
It is obvious that Malta's economy rests on SMEs and family businesses. In dealing with many SMEs as part of my work, I have come to realise about the various external challenges they face and the internal weaknesses they presently operate with. In the last publication of "The Accountant" journal I had an article published …
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A Business Blog for SMEs & Family Businesses 