A Family Affair – Safeguarding Malta and Europe’s Beating Heart

On 1st October 2018, Prof. Josef Bonnici, Chairman of the Malta Development Bank, opened the conference ‘A Family Affair – Safeguarding Malta and Europe’s Beating Heart’, the first event marking the SME Week hosted by the Chamber of Commerce.​ 

 
It was explained that this initiative will assist family businesses with debt financing. 
Minister for the Economy Chris Cardona explained that it was noted that whilst family businesses wished to transfer, they had a problem with access to finance. Thus, BOV is offering a specialised scheme specifically for family businesses, for which The Malta Development Bank will act as a guarantor. 
 
The Family Business Office and the Malta Chamber of Commerce signed an agreement whereby a Family Business Committee was established. 



The Family Business Office and the Malta Chamber of Commerce signed an agreement whereby a Family Business Committee was established. 

 
The President of the Malta Chamber, Frank V.Farrugia, announced this, while adding that there is no one formula that determines the success of a family business, but added that he has learnt that planning and looking ahead are fundamental for success.  According to Farrugia, the conference aimed to celebrate family businesses and their achievements, as well as aid them in future successes.