‘Ingredients of Good Business’ discussed during the BOV PwC Family Business Forum 2014

The ‘Ingredients of Good Business’ was the central theme of the second edition of the 2014    Family Business Forum which was recently held at the Westin Dragonara Resort. Amongst others, the forum was addressed by the Minister for Finance, Hon Edward Scicluna, Bank of Valletta CEO, Charles Borg and PwC Malta Territory Senior Partner, Kevin Valenzia.

David Valenzia – Partner PwC and Joseph M Camilleri – Chief Officer Bank of Valletta, drawing on the expertise from their respective entity, addressed various themes, ranging from Financial Reporting and Corporate Governance to Strategy, Enterprise & Innovation and Estate Planning. A panel formed of entrepreneurs, all coming from local family businesses, discussed various key issues linked to aspects of good business administration. The forum created the opportunity for those attending to better understand what is required in an entrepreneurial journey through real and experienced case studies and research.

In his introduction, Kevin Valenzia spoke about the importance of family businesses to Malta’s economy, and PwC’s commitment to continue to focus on this segment, helping their clients to add value - “very clearly, we need to build resilient organisations, and become much more agile and adaptable. Resilient organisations accept uncertainty as a natural part of the environment, and put as much importance on their power to respond as on their power to control”. He also announced that PwC would be publishing their biennial family business survey later this year, and launched their current publication “Bridging the Gap”, specifically aimed at issues faced by these businesses.

“The Bank is pleased to associate itself with initiatives which serve to support and facilitate business” said Charles Borg, CEO at Bank of Valletta. “It is with pleasure that, again this year, we have joined forces with PwC to organize this forum focused on family businesses and which has the objective of providing attendees with real and relevant information directly related to successfully managing one’s business” continued Mr Borg.