MEIB and NSO awarded
Grant for Family Business Research
Ministry for the Economy, Investment and Small Business (MEIB) and the National
Statistics Office (NSO), under the Ministry for Finance, are the beneficiaries
of a grant awarded under the COSME programme, amounting to €63,379.00
an EU programme for the Competitiveness of Small and Medium-sized Enterprises
(SMEs). A significant part of the COSME programme is dedicated
towards financial instruments managed by the European Investment Fund (EIF)
under a European Commission mandate for 2014-2020.
shall support SMEs in better access to finance; access to markets; supporting
entrepreneurs; and more favorable conditions for business creation and growth.
Need for more data on
the Family Business Sector
grant was awarded for the implementation of a Project Proposal, entitled “Identifying and Establishing Core Variables
and Statistics to Support the First Legislation on Family Business in Malta”,
submitted by both beneficiaries under the call “Statistics for Family Businesses”.
main objective of the project is to collate statistics on family businesses for
the first time in Malta. This data will aid the legislator, policy maker,
key stakeholders and family businesses to garner credible, real, comparable and
systematic information and indicators of the family businesses in the Maltese
the basis of this data, it will further offer usable and practical information
for decision making in the development of, and assistance to, this key economic
target population for this survey
shall be approximately 5,000 enterprises, which are performing particular
economic activities selected from the Business Register maintained by the NSO.
These will be selected according to the NACE nomenclature and also by
employment size class. The target group shall be selected taking into
consideration the parameters which have been set up in the proposed Family
Business Act by the Ministry for the Economy, Investment and Small Business.
The Family Business
The proposed legislation compiled by the Ministry is
the first of its kind in Europe. This Act is not only supporting and protecting family
businesses, but also filling the void and working in line with European policy
on the importance of family businesses. The European Commission has also
recently appealed for the need of addressing the impact on family businesses in
order to identify problems and barriers of growth.
On a local level, the Ministry has recognised how more
than 70% of business in Malta are family-run. This Act aims to aid and serve as
a guide for the significant economic sector, which has been overlooked before.
For more information on the Family Business