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Print item A business breakfast which was organised earlier this month by the Gozo Business Chamber in collaboration with Bank of Valletta, discussed the success stories of Gozitan family businesses who have transitioned or are in the process of transitioning to welcome on board the younger generations.
The Bank will soon announce further initiatives to support family businesses overcome financial hurdles to ensure proper and managed transitions to the upcoming generation. Lia also gave a short overview of the current available instruments and incentives for Family Business to ease the challenges when transferring from second to third generation and beyond.
Joseph Borg, concluded the Business Breakfast by announcing that in the coming weeks the GBC will be launching a new personalised service that will operate from its offices in Victoria to its members. He said that this will involve supporting Gozitan Businesses to plan ahead and to overcome the challenges when transferring from one generation to another.
This personalised service will be offered in collaboration with the Family Business Office Malta. It focused on the meticulous planning required to ensure a smooth transitioning, bringing to the forefront that professional advice is a necessity before embarking on any transition process.provision of tailor made service packages to the ones in need, (3) business model innovation, (4) incremental technological innovation and (5) the opening of new markets.
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