A collaboration agreement has been signed between Servizzi Ewropej f'Malta (SEM) and the Family Business Office to strengthen support for family businesses in Malta, improve access to EU funding, and provide clearer guidance on EU policies and regulations, the Ministry for European Funds said in a statement.

The agreement formalises cooperation between the two key entities to help family-run businesses better access EU funding and navigate complex regulations. Family-run enterprises make up a significant share of Malta's small and medium-sized business sector.

The agreement also aims to increase the involvement of Maltese family businesses in shaping EU policies that directly affect them, a statement read. Moreover, the collaboration is expected to improve how family businesses access funding and adapt to evolving EU regulations in the coming years.

The signing was presided over by European Funds Minister Stefan Zrinzo Azzopardi. Key benefits of the agreement include more accessible and practical guidance for family businesses, better understanding of business needs by government entities, training for Family Business Office staff on EU funding opportunities, and increased participation of Maltese family businesses in EU policymaking.

In terms of broader impact, the agreement aims to boost competitiveness and sustainability of family businesses and reinforce their role as a pillar of Malta's economy.

"We are ensuring that these businesses have clear and effective access to the opportunities offered by the European Union," Zrinzo Azzopardi said.