Vice President of the Gozo Business Chamber, Joseph Borg, announced a new personalized service offered by the GBC which would be launched in the coming weeks that would help Gozitan businesses planning their future and to overcome the challenges they face when transferring the business from one generation to another. The service which would be offered directly out of GBC’s offices in Victoria and in collaboration with the Family Business Office in Malta.
Borg was speaking during a business breakfast organised jointly by Bank of Valletta and the Gozo Business Chamber. During the business breakfast, successful stories of family owned Gozitan businesses that were passed on from generation to generation or are in transitional process to welcome on board younger generations were discussed.
Albert Frendo, Chief Business Development Officer at BOV, said that the Bank’s strategy for family owned business come from insight from the local market and provides financial solutions which ensures a sustainable growth. The bank would soon announce more initiatives aimed at supporting family owned businesses overcome financial obstacles that would ensure fair and well-managed transactions for future generations.