A conference held early last week highlighted the need for family businesses to plan strategically to safeguard themselves against the challenges of intergenerational conflicts. It targeted businesses that are owned or managed by families, and endeavoured to offer useful advice and solutions to many of the problems that can arise.

The event was organised by FBS2M Family Business Solutions and with the collaboration of the Scottish Family Business Association. APS Bank Ltd was the main sponsor.

“Around 85% of all Maltese companies are family owned or run,” said Mario Duca, managing director and consultant at FBS2M Family Business Solutions. “As a company, we offer training and consultancy services to family businesses and business families, by creating family governance and effective succession planning structures.”

The conference discussed issues that include conflicts between siblings and intergenerational clashes, especially in relation to next generation succession, and detailed how these can be mitigated to successfully take the business to new levels.

Foreign and local speakers addressed the conference, which also marked the launch of the Malta Association of Family Enterprises.