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Many people do not seem to be aware about the potential consequences of climate change. As explained by the United Nations, climate change does not simply mean higher temperatures. It also refers to more severe consequences, such as melting of polar ice, flooding, and a reduction in biodiversity. Most individuals and organisations do care about this, but no drastic changes can be done if these all act in isolation.

Looking at the Maltese scenario, in 2017 only 18% of respondents sold their products online and of these, the majority said that total online sales accounted to less than 10% of their total sales. Yet for the 19% of those who sell online, online sales accounted for more than 50% of their sales, which is a remarkable percentage.

The introduced Family Business Act in 2017 saw the introduction of an incentive scheme for family businesses, whereby donations of marketable securities and business property used in a family business would be subject to a reduced duty rate of 1.5%, from the standard 2% or 5%.

Dynamic organisations face many challenges. Whether it’s the war for talent, currency fluctuations, trade tariffs, aggressive competition or digital transformation, there are many barriers to growth.

The Family Business Act came in to force in January 2017 with the aim of facilitating the transfer of family businesses from one generation to the next with the hope of addressing significant succession planning issues.