Chamber To Set Up Committee Specifically For Family Businesses

Marie-Claire Grima - 1st October 2018

The President of the Malta Chamber of Commerce, Enterprise, and Industry, Frank V. Farrugia, announced the establishment of a new Chamber committee, dedicated specifically to family businesses.

Speaking at A Family Affair, the Malta Chamber’s 2018 conference celebrating 170 years of the Chamber, which is being co-organised with the Family Business Office, Mr Farrugia said that the committee ensured that the topics discussed today would continue beyond the conference.

He stated that the committee would serve as a platform for constant communications between policymakers and relevant stakeholders.

Mr Farrugia said the conference aimed to celebrate family businesses and their achievements, but also examine their future, discussing themes such as shareholding, structure, governance, the sustainability of existing business models, procedure, finance and succession.

Chamber

“With this conference, the Malta Chamber is celebrating the core of its being, the members which represent businesses from all of Malta’s economic sectors, being manufacturing, importation, financial services, tourism, or information technology. It is these members’ views and expert opinions that the Chamber’s positions and policies are based on. They are the centre of the Chamber’s being.”

The conference features a list of prestigious speakers, including representatives of global players such as Ferrero SpA, Grimaldi Lines SpA and Buffa SpA.

Mr Farrugia stated that the Chamber looked forward to continue to be there for its member family businesses, supporting them and helping them grow within the context of a healthy and competitive economy.


2nd October 2018

75% of Malta Chamber businesses who responded to a survey on whether they preferred summertime to wintertime, said that they preferred summertime.

Marie-Claire Grima

“Our CEO is the consumer,” said Briano Olivares, Head of R&D at Ferrero. “If what we are offering them doesn’t work, then we are over.”

Marie-Claire Grima

When it comes to succession within a family business, it’s better to recruit an outsider if there is no natural leader within the family that’s approved by all the successors, said Joe Zammit Tabona, Director of the Xara Palace Hotel Co and Infinitely Xara.

Marie-Claire Grima

The decision of whether to be part of the family business at all is not an automatic one, and is indeed, one of the most important decisions of all, said Denise Xuereb, AX Group’s Construction and Development Director.