Recent years have witnessed a significant increase in the number of start-up companies being set up locally, in various segments of business. Start-ups face unique challenges at the initiation stages of their operations and require constant external support to thrive and grow. Some common challenges faced by start-ups include:
Competition and customer acquisition
Hiring and retention
Balancing short and long term goals
We’re passionate about helping startups bring their innovative ideas to life. We understand the challenges that come with starting a new business and we stand ready to provide support through the way – from design stage to scaling up. In addition, we assist start-ups in benefiting from the various support measures offered by the Government which are specifically designed to alleviate financial pressures.
Family businesses remain a vital part of Malta’s economy, providing a unique service proposition to the economy as well as stable employment. Family businesses often have a long history and a strong connection to the community, making them an important part of local heritage. Family businesses are often in a better position to offer a more personalized approach to business, allowing them to build strong relationships with customers and suppliers.
Family businesses face significant challenges in today’s economic and competitive environment, including:
Despite these challenges, many family businesses have been successful for generations. As a family business grows, hard decisions may need to be taken in relation to the restructuring of management and operations as well as succession. With proper advice, planning and management, family businesses can continue to thrive and deliver unique value to the various stakeholders.
Small and Medium Enterprises (SMEs) are a critical component in the local economy, making up the majority of businesses in Malta. SMEs contribute significantly to Malta’s GDP, employment, and innovation.
However, Malta’s SMEs also face some significant challenges, including;