The objective of these sessions is to make it possible and convenient for end-customers to receive practical information by professionals, particularly from a fiscal, financial and regulatory perspective, which can help them make the right decisions for their business and for their own personal well-being. This initiative is in line with Mazars Malta’s business advisory mission, and its reputation as a provider of personal services and quality advice.
The second session took place on the 14 July at the Royal Malta Yacht Club, and was entitled ‘Business planning: A strategic perspective’. The ‘Made Simple’ workshops are being delivered by experts from within Mazars’ management team, and, as is the norm with these sessions, this event also took a hands-on approach. Apart from discussing the importance and utilisation of business planning tools and methodologies, directors and executives of owner-managed businesses were taken through the process of how to develop a business plan, keeping in mind practical considerations and common issues.
Commenting on the topic of this workshop, Mazars Malta partner Alan Craig stated that “Irrespective of the size of one’s enterprise, and whether a company’s business life cycle is at the start up, growth or maturity stage, business planning is an essential strategic tool that successful firms employ. Business plans should be clear in terms of desired objectives, well thought out, measureable, and properly communicated”. Craig further explained that “Done properly, business plans will increase both value and profitability by setting direction and goal congruence, while serving as a yardstick to measure performance”.