Blog

2018 In Numbers – Dr. Nadine Lia

Pythagoras said that numbers rule the universe and whilst family businesses will be the first to attest the importance of keeping tabs of numbers and figures we’d like to share with you some of our own numbers accumulate during the last year and hope to be able to provide even stronger numbers next year.

New Year Resolutions For Family Businesses – Dr. Nadine Lia

New Year resolutions are typically associated with personal development and achievement. Albeit we typically and stoically look into losing weight, cutting down on alcohol or cigarettes, increasing our level of fitness or pinning our goals to buckets lists and targets.

Running A Business VS Running A Household – Nadine Lia

As all parents can attest the soft and hard skills of running a business and a household are similar and yet so far apart.  Merging both whereby your children and family members move to take on the additional of being your nearest and dearest to becoming your employees,  eventually your colleagues and in the end, the boss is a transition on many levels for all the family members that requires quite a separation of powers and mentalities.

Preserving Local Family Businesses – Max Ganado

If one looks at the history and economy of Malta, one will find it has been a very family oriented society with family businesses being part of the economy in an important way. Mostly with property but also changing according to the times the way the economy developed.

Starting The Journey To Continuity – Nadine Lia

Regardless of how small or large the size of a family business, succession planning for family enterprises presents a unique set of challenges. Not only can it be a complicated, emotionally-taxing process, but it also carries the potential to detrimentally affect family relationships, which can strain the business itself—often to the breaking point.

Services and Guidance To Seek From Your Advisors – Nadine Lia

If a family business is intent on surviving with growth and stability and intends to pass the business to future generations it requires the ability to develop a defined strategy coupled with the flexibility to deal with emerging issues that will arise in this ever-changing and dynamic environment.

Family Wealth Management – Maria Farrugia

A successful business transfer takes place when “the skills and the desire to be in business” are transferred from one generation to the next (Shrapnel, 2014, p.7).   In light of the increasing number of family members with each new generation, each having different expectations, family wealth can be easily squandered, unless managed properly. This would mean that the hard work of past generations is lost.

Proper Planning Is Key – Annalise Micallef

Transference of interests in family businesses is an inevitable path such businesses must cross. It is a challenging time for such businesses as family relations converge with business interests with the result that family members must strive to keep a balance on both fronts for the continued success of the family relations and business interests.

The Role Of The Trusted Advisor – Anthony Pace

Succession Planning may be one of the most challenging experiences facing any Family Business owner, so it is crucial to get it right. For a Family-owned business, a solid succession plan can drive the growth of the business, manage taxes and set the stage for retirement. Succession Planning is a multidisciplinary process.

How Will This Scheme Be Beneficial For Our Economy – Chris Cardona

Dr Chris Cardona, explains how this scheme will not only benefit local family businesses but also our economy. This act will give guidance to how a family business should regulate itself, benefitting from these new incentives, and restructures itself, in order to prepare for the eventual transfer and succession of the business when the moment comes.

3 Key Questions To Discuss With Your Advisors – Nadine Lia

To travel on a journey with others requires a mutual respect and understanding. A preplanning dialogue seeks to generate a relationship that will be the foundation of positive communication, growth, and agreed upon direction. If there is agreement that the relationship is a good fit, a proposal would be developed outlining the process, timeline, and milestones. There is no one size fits all prescription for families or organizations; what is required is the ability to ask the difficult questions and raise the issues that are sensitive, yet must be discussed.