It certainly seems that Malta business continues to pioneer the way forward despite the European economic uncertainty. Such is the environment on Malta that business is a culture more so than just a means of turning profit; which is why regular surveys are conducted to get a general sense of the evolution of this culture on the island. Most business ecosystems continue as usual without reflection but, one supposes because geographically Malta is small and manageable, the island is different in this way. It’s not small surprise then that as far as foreign investment is concerned, the Malta business network is constantly expanding; after all what is a business without adequate management on many levels from small to medium enterprises and the highest levels of government.
Innovation Creates Influence
According to news reports 517 enterprises, which equates to 37% of the overall amount of business in the Malta directory, undertook to spend large portions of their budget on innovation activity in 2010. When it comes to innovation, it’s healthy to think of it as a ripple in a pond; at first the effects are centrally located by expand ever outward influencing other ripples around them. This means that the effects of innovation are going to be felt greatly in Malta business and a professional association with this innovation, in one of the most successful economies in Europe, is going to set up a lot of potential for success.
Breaking down this innovation more acutely 17% of the innovation activity was devoted to technology exclusively, 37% on non-technological endeavours while the large majority was dividing the focus on both aspects. This means that virtually any business coming to Malta can find their place; the Malta Business Bureau aggressively exposes this to foreign investment and they’re not lying. Malta is also mostly, in this sector, run by small to medium enterprise which makes it attractive to import small upstarts with an eye on the attractive Malta business tax policies.
Malta Business Culture
The overall reported business expenditure for innovation figured in at €99.1 million with a third of that going on media printing and reproduction while the rest went to innovation in manufacturing. The most often touted reason for innovation expenditure in manufacturing was the improvement of goods and services. One important aspect of the Malta business culture was providing skills training for employees with over 80% of companies offering training of some kind to their employees. If one thing is clear from the survey is that we can learn a lot about company culture and innovation from Malta business; even better than that, we can benefit from jumping on the gravy train that business offers.