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SME Forum 2018 (M1832)

 



Registration: 08:15

Session Time:
 09:00 - 17:00, including breaks and a lunch.

Venue: InterContintental

Parking: Complimentary at the Eden Car Park, on a first-come, first-served basis

 

The Malta Institute of Accountants will be holding the annual SME Forum on 25th May 2018. The focus of this year’s SME Forum will be the sustainability and growth prospects of SMEs. It will bring together professional accountants, senior executives, potential entrepreneurs, stakeholders, directors, as well as regulators to focus on examining the economic climate in this rapidly-changing digital world.

SMEs face many challenges in their daily operations, which include the increase in competition, skilled labour and financing opportunities. During the Forum a panel will discuss solutions for SMEs. Topics such as financing opportunities, the Malta Development Bank, Business First and demographic challenges will be raised. The GDPR regulation, which will come into force on the same day, is a topic which will be discussed at length. GDPR is not optional and is a business concern that can have significant ramifications. Practical application techniques of the GDPR will be discussed during the Forum. The Forum will also include a session on Digitalisation, highlighting how SMEs can benefit from these technologies in the age of Cloud, AI, and Blockchain. Succession planning issues are also a major concern to family-owned SMEs. During the Forum, a speaker will be giving details of the various options of the modes of transfer and taxation aspects for family-owned SMEs. All this and more will be discussed during the SME Forum.

PROGRAMME

08:15   Registration & Welcome Coffee
 
09:00   Welcome Address
 
09:15   SME sustainability and growth prospects
Malta’s recent economic growth has exceeded its historical average. While this was underpinned by significant changes in the structure of the Maltese economy, one important factor remained unchanged – namely the fact that SMEs are Malta’s economic backbone. SMEs in Malta’s business economy sector account for the bulk of the rise in the number of firms since 2010, and contributed for three-fifths of growth in value added and two-fifths of that in employment. For this to continue constraints such as labour shortages, access to finance and infrastructure needs have to be tackled positively in coming years.

Speaker: Dr Aaron G. Grech, Central Bank of Malta
 
09:45   Panel Discussion – Solutions for SMEs
The panel members will be discussing possible solutions to challenges faced by SMEs in their daily operations, such as increased competition, shortage of skilled labour, and limitations in raising finance. The discussion will delve into the simplification measures taken so far to ease processes, and delve into the Government‘s plan to further enhance and simplify the interaction between Government and business. A mention will also be made on the 'Ease of Doing Business Report' and give a brief review of why we do so badly in this report. The current situation of the labour market will also be discussed, where the influx of foreigners is much needed to sustain the local growth in economy, whilst bringing about certain challenges as proposed in the MEA study on these demographic challenges and their socio-economic impact.
Furthermore, considerations will include opportunities available for SMEs by the Malta Stock Exchange to raise capital and be admitted to the Prospects Multilateral Trading Facility, a new capital-raising venue which has exceeded expectations. The discussion will also investigate the need for a development bank, including the nature of market failures and funding gaps in Malta. The discussion will finally consider the role and main functions of the Malta Development Bank, and the facilities to be offered by the MDB to SMEs.
 
Moderator: Mr Ranier Fsadni, University of Malta 
Panel Members: Mr Joseph Portelli, Malta Stock Exchange; Mr Rene Saliba, Malta Development Bank; Ms Dolores Sammut Bonnici, Malta Employers’ Association; Ms Marika Tonna, Business First
 
11.00 Networking Coffee Break
 
11.15 Overview of GDPR and its application for practitioners
GDPR comes into effect on the 25th May 2018 with no transitional period. It is not optional and is a business concern that can have significant repercussions if not abided with. In view of this, practical application techniques of the GDPR from a small and medium practitioners perspective will be discussed during this session by two speakers.

The first presentation aims to provide a general overview of the GDPR, focusing predominantly on the major changes which will provide for stronger data protection rules as of 25th May of this year. In particular, the presentation will focus on: the roles of data controllers and processors and their relevance to practitioners, the legal basis and principles to process personal data, the rights of data subjects including newly introduced rights, data protection breaches and the mandatory requirement to report them, the role of the data protection officer, and other changes envisaged under the GDPR.   
 
Speaker: Mr David Cauchi, Office of the Information and Data Protection Commissioner

The impact that the GDPR will have on businesses in practical terms will be addressed with a focus on the experience of small and medium practitioners. The necessary steps that are to be undertaken by practitioners, in order to address the relevant changes to be compliant with the GDPR, will be illustrated in a structured way. The contribution will include examples and practical application techniques, including an introduction to the risk-based-approach that may be adopted by a small and medium practitioner in their preparedness journey to overcome the complexities introduced by this detailed regulation.

Speaker: Dr Borana Hima,
Grant Thornton
 
12:10 GDPR for SMEs – everything a small business needs to know
GDPR: is it a hype or reality? A risk assessment is necessary so you can determine how it affects you. The Data Protection Act has been enacted in 2003; what has changed with GDPR? What are you using personal data you collect for? Do the data subjects know? Can I carry on with my business? This session will put it all into perspective. 
 
Speaker: Mr Alan Alden, Kyte Consultants
 
12:40 GDPR: Q&A

Panel Members: 
Mr Alan Alden, Mr David Cauchi, and Dr Borana Hima

13:00 Networking Lunch Break
 
14:00 The digital world and its impact on SMEs
The pace of technological advancements has increased exponentially. In the coming years, a new paradigm shift is expected in the way in which we interact with technology. What's interesting about this shift is the fact that advanced technologies are no longer secluded to big businesses but are available to small and micro-enterprises as well. This brings about the democratisation of technology since the entry barrier for these technological advancements is extremely low. This talk will give an overview of the 5 major technologies that will change the way you conduct your business forever: Cloud, Big Data, Block Chain, the Internet of Things, and Artificial Intelligence. The concepts will be explained in terms of how they can be of business use. The talk aims to inspire you to think how your business can change with the adoption of these technologies.
 
Speaker: Prof. Alexiei Dingli, University of Malta
 
15:00 Networking Coffee Break
 
15:15 Modes of transfer and taxation aspects for family-owned SMEs
When it comes to family business transfers, various considerations are to be kept in mind, and once the final decision has been made to transfer the business to the next generation, the method would then have to be opted for. The scope of this session is to analyse the legal and fiscal implications of various modes of transfers, including amongst others, by virtue of a will, by way of donation and the settlement of the business on trust.  Fiscal incentives for family businesses shall also be briefly highlighted. 
 
Speaker: Dr Sarah Rausi, Fenech & Fenech
 
16:15 How to get more done in a day? 
In today’s world, the phrase “I’m too busy for this” is used more frequently than ever despite being surrounded by smart gadgets that should make our lives easier. Is it true that we are so busy? Can we manage or control time? Do we have a choice? This is a reflective, non-technical session to help you understand what matters most in your life and make time for it. 
 
Speaker: Mr Noel Debono, Bank of Valletta plc
 

 

PARTICIPATION FEES
 
MIA Members: €95
Non-MIA Members: €135
Retired MIA Members: €55
MIA Students: €55

BOOKING
Individual bookings by MIA Members and MIA Students are to be placed and paid online (below). 
Group bookings, non-MIA Members, and Retired MIA Members are requested to fill in the registration form and send it by post along with payment.  
 
TERMS AND CONDITIONS APPLY

 

Start Date: 25/05/2018

 

End Date: 25/05/2018

 

Service Provider: The Malta Institute of Accountants

 

Competences
Type Hours
Core 1.00
Professional 5.50

 

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