Three professionals from KPMG in Malta’s Advisory function have successfully completed the STEP Advanced Certificate in Advising the Family Business. The Advanced Certificate focuses on providing participants with specialised knowledge of the theory and practice behind the family business system and best practices advisors can utilise when engaging and supporting in the unique challenges family businesses face. Head of Advisory David Pace, Associate Director Ryan Mizzi and Advisor Fernando Fenech successfully obtained this certificate, which is subject to the rigorous quality assurance procedures of Alliance Manchester Business School (Alliance MBS), a school of the University of Manchester.

This certification highlights KPMG in Malta’s ongoing commitment to the Family Business sector. Family and privately-owned businesses have long been part of Malta’s economic and social fabric and continue to be a critical part of the Maltese economy. As like any other business, family businesses are very much focused on innovation and remaining competitive, to ensure their chances of survival for generations to come. They are also increasingly subject to the same disruptive challenges as any other business but have been seen to be more resilient to disruptive change should they have the right structures and values in place.

At the same time, the family dynamic serves to distinguish family businesses from the rest. With a family at the centre, factors such as management responsibilities, corporate governance, and the orderly transition of management, income, control, and equity become more complex. There are also unique tax considerations and implications for family businesses.

Given the unique nature of family businesses, KPMG in Malta, continues to invest in its people to ensure they have the right knowledge and expertise to support them. The family business practice at KPMG in Malta works with companies of all sizes to address the needs of the business, and as importantly, those of the family. With the same passion that drives business families, KPMG advisors are inspired to help drive and maximise the success of these family businesses; no matter where they are in their journey – whether they’re looking to reach new heights, embrace technology, plan for an exit, or manage the transition of wealth and/or the business to the next generation.