A family-owned business is not just a family’s greatest asset but it is also represents a legacy. As businesses evolve at an increasingly fast pace, family business owners are constantly having to balance between the financial aspects of their business and preserving their family legacy.
This will be the main theme of a roundtable discussion which will be hosted by MISCO through its MISCO Directors Network on Monday 13th October to discuss ways how your Family Business Legacy can be protected. The discussion will be coordinated by Lawrence Zammit, Director at MISCO and Dr David Zahra from MISCO Directors Network.
“A seminar like this acquires more importance when one keeps in mind that recent figures show that 55% of Malta’s registered businesses are family-owned and all together, these employ roughly 40% of the Maltese work force. This could have been one of the reasons why the recent international crisis did not affect Malta as much as other countries and this is therefore why family businesses should keep being nurtured, protected and developed,” explains Maria Zahra, from MISCO.
“MISCO has been assisting family businesses for over 30 years – enough to know how important it is for owners of family businesses to strike a balance between ensuring healthy and profitable business without compromising the family dynamics. Through MISCO’s long experience, we help businesses implement a transition plan that seamlessly transfers the business to the next generation without disrupting the day-to-day business. This is perhaps one of the most significant and valuable exercises any family business owner can go through in order to safeguard the long-term sustainability of their company and legacy,” added Maria Zahra.
Over the past years MISCO has in fact been assisting family businesses through the process of evaluating business and family issues from top to bottom, delivering plans for dealing with challenges, succession planning, strategic planning, leadership development, human resource management, business valuation and family governance.
Attendance to the Keeping it in the Family roundtable discussion is free of charge and will be held between 8.30am and 11.00am at MISCO in Fino Buildings, Mriehel on Monday 13th October. Those interested to participate should reserve a place by sending an email to firstname.lastname@example.org.