Edward Scicluna

Government committed to helping family owned businesses grow

“Our main priority from a government point of view should be the growth of family businesses. These represent a significant portion of the economy, and the Government certainly has a role to play in ensuring that they are able to survive the challenges they face, and realise their potential,” said the Minister for Finance, Prof. Edward Scicluna.

PR140996a

Prof. Scicluna was delivering the closing address of the Family Business Forum, titled ‘Ingredients of Good Business’, organised jointly by BOV and PwC and held on the 7 May 2014.

The Finance Minister said that there is no doubt that family-owned businesses play an important role in the overall Maltese economy. He noted that while it is not known precisely how many family-owned businesses are operating, as the National Statistics Office only collects data for SMEs and micro-enterprises, the portion of enterprises that are family-owned is significant.

“In 2013, out of 71,629 existing enterprises, approximately 97% are micro, that is, with less than 10 people employed in each firm, and small enterprises (10 – 49 employees) represent 2.3%. These together represent 76% of all the jobs employed by these enterprises,” he said.

He noted that in the UK, family-owned companies account for three-fifths of private sector enterprise, and while the vast majority of businesses in this sector are SMEs, there are approximately 900 large family firms, including high-profile. Overall, family-owned companies account for more than a third of UK economic activity.

Given their role in the country’s economy, Prof. Scicluna said, the Government certainly has a role to play in ensuring that family-owned businesses are able to overcome the challenges that such businesses face, and survive and grow further.

“First and foremost, it is important that micro and small enterprises hold a strong level of corporate governance. That they comply with the respective regulations and that their accounts are well kept and audited. The latter issue is one of the government’s dilemmas. While we want truly to cut bureaucracy and costs for SMEs, we should think carefully before abolishing certain regulatory requisites,” Prof. Scicluna said.

Minister for Finance, Prof. Edward Scicluna, delivers a brief address at the Family Business Forum, organised jointly by BOV and PwC. Westin Dragonara, St. Julians

 

 

“We want to discipline firms to encourage them to follow the best corporate practices, as small as these firms may be. This is especially the case when a family-owned business comes to raising finances, or inviting in outside partners. How can this be done if the business does not have its financial affairs audited and in a proper order?”

 

Prof. Scicluna said that the Finance Ministry is currently looking into how the Government can open a small window of opportunity for family-owned businesses in terms of tax incentives to encourage and assist them to survive and grow. “However this will definitely not be an open door for tax avoidance for property owners. It will be reserved for genuine Micro enterprises and the tax breaks modest,” Prof. Scicluna added.

The Finance Minister concluded by saying that the Finance Ministry’s priorities are related to helping family firms grow, and even mature to the point that they bring in outside management and also equity funding.

“This notwithstanding, we will be consulting very closely with family firms to see what they need most. Their growth is the economy’s growth. And in this we are surely partners,” the Finance Minister said.

 

maltaindependent_logo

author_pc

,

3,651 responses to “Government committed to helping family owned businesses grow”

  1873. When it’s really good, there’s no need for fancy labels. “I’ve tried hundreds of eyeliners in my lifetime, and this remains my go-to because of its rich black color,” says Megan Louise of using the ultra-fine brush for layering. The tinier the tip, the inkier the formula, the more extreme the “super-thick” cat eye. “I like to keep it punk!” she says. “When I first started wearing eyeliner, I was a closeted ‘ranchero’ boy,” says Mexico City-based fashion stylist Pablo Rivera, who would quietly steal his mom’s Tom Ford kohl pencil. Historically, Rivera has preferred the look “a bit messy, a bit smudged.” In high school, he drew inspiration from The Killers frontman Brandon Flowers, while makeup artist Jo Baker’s Instagram looks capture Rivera’s current attention.
    https://extra-wiki.win/index.php?title=Best_natural_looking_eyeshadow
    For natural, palm oil free, vegan, and cruelty-free makeup, Eco Minerals is one of Australia’s finest for your whole makeup routine: Menu.page-200365984(Celebrity) Texas Gulf Coast Alert: Severe Weather Incoming. Get Prepared By clicking enter you are verifying that you are old enough to consume alcohol. If you follow a green lifestyle, check out the natural and organic makeup selection at Walgreens. Here, you’ll find mineral based cosmetics that use natural minerals and plant extracts in place of synthetic ingredients. Eco-friendly tools and applicators made from sustainable materials are also available. Love this girl ? the beautiful @emrata shooting in #NYC today ? @lindahaymakeup #emilyratajkowski But the field of green skincare and cosmetics still needs clarification. Typically, the term is used to describe products using environmentally-friendly formulations, production practices or packaging methods. In the United States, the Federal Trade Commission (FTC) has published guidelines to clarify what green or natural means in marketing terms, though these guidelines are still loosely defined.

  2302. pillole per erezione immediata: Viagra – esiste il viagra generico in farmacia
    comprare farmaci online all’estero

  2881. El interesante y sencillo juego Balloon está diseñado para rondas rápidas. La tarea del jugador es inflar el globo hasta que explote. En este momento aumenta el multiplicador, que muestra cuánto dinero puedes conseguir. Si consigue retirar el dinero, habrá ganado. En el mundo de los casinos en línea en Chile, 1win balloon ha ganado popularidad gracias a su dinámica sencilla y a las oportunidades de ganar dinero real. La propuesta de este juego es clara: hacer una apuesta, ver cómo el globo sube y decidir el momento exacto para retirarse antes de que explote. Este modelo es atractivo para quienes buscan emoción sin reglas complicadas. Descargar la Balloon App es fácil y accesible para todos los usuarios. Sigue estas instrucciones para empezar a jugar: Términos y condiciones Riesgo y Recompensa: Cada ronda está llena de emoción. Inflar un poco más el globo aumenta tus ganancias, pero también incrementa el riesgo de que el globo explote. Aquí es donde entra la estrategia: ¿serás prudente o te arriesgarás por mayores recompensas?
    https://models.yclas.com/user/ledzahydco1973
    La jugabilidad es similar al juego de 1982 Joust de Williams Electronics. La versión casera de Nintendo Entertainment System fue portada al NEC PC-8801 en octubre de 1985, Sharp X1 en noviembre de 1985, Game Boy Advance como Balloon Fight-e para el e-Reader en los Estados Unidos el 16 de septiembre de 2002 y como parte de la Famicom Mini Series en Japón el 21 de mayo de 2004. Tetris DS es un videojuego de rompecabezas desarrollado y publicado por Nintendo para Nintendo DS. Como parte de la serie de juegos Tetris, el juego admite hasta diez jugadores localmente y admite hasta cuatro jugadores en línea con el servicio de conexión Wi-Fi de Nintendo. Gracias por la visita, Apóyanos a nuestra página y déjanos tu opinión, se te agradecería demasiado. salu2 facebook EmuROMsEspanol reviews

Leave a Reply

Your email address will not be published. Required fields are marked *