Women in business can make Malta more competitive

The Malta Association of Women in Business recently celebrated International Women in Business Day with a seminar entitled "Spirit of Enterprise".

The conference was well attended by many business women from various industries including retailing, tourism, financial services, waste management and other sectors. The distinguished speakers included American Ambassador, Molly Bordonaro who spoke about Business Ethics, emphasising the importance of multiple bottom lines.

Mariella Liverani and Nicoletta Bozzolo from Italy spoke about the activities of Banca di Credito Coperattivo and the work of the association IDEE for women bank employees. Joe Woods discussed innovation and the importance of thinking outside the box stressing on the importance of thinking global and being creative. Elvia George, Bank of Valletta head of finance, spoke BoV's history and current recruiting and promoting women in the bank. She also spoke about the achievements of BoV female employees.

The conference included two work shops, led by Daria Bason from Students in Free Enterprise and Doris Sammut, vice president of the Malta Association of Women in Business.

Rosanne Galea, president of the Malta Association of Women in Business, spoke about competitivity in Malta and presented ten recommendations to the government to help women in business become more competitive. The ten recommendations were:

1. The government needs to set clear objectives for female enterprise, and then act accordingly. More attention needs to be given to women in decision-making positions.

2. Policy must provide social recognition for the self-employed and ensure a good status. Women in business do not get children allowances and other social benefits yet they are contributing in a big way to the Maltese economy.

3. Policy must give more opportunities to practical solutions for workable combinations of work and family. Child caring and elderly care should be made a top priority because unfortunately children are still considered to be the responsibility of the women. It is difficult for a woman to make it as an entrepreneur unless she has the support of her family because she needs her family around her to be able to make it in business.

4. Enterprise in the care sector cannot do without government support. If the government does not intervene with financial support, the costs related to child care will be prohibitive and the ultimate aim of encouraging women into the labour market will not happen.

5. Policy must deal with female enterprise at the source, in education. We need entrepreneurial education from when the children are young even at school. This education should show also women as role models to children.

6. Every valid project needs an appropriate form of financing. The association of women in business needs financial support because it is helping women go into business and grow. EU funds could be used for such projects as has been done in other EU countries. In addition, new startups need seed capital, business angels and venture capital.

7. Professional and inter-professional organisations need to give female entrepreneurs a visible place. There are many associations in Malta that have councils entirely made up of men. Here we refer also to unions in addition to professional associations.

8. Training and support make the difference between a "lifestyler" and an entrepreneur.

9. Clear guidelines on "work and family". This means that we show people the importance of having a balance. Also, role models can show that being an entrepreneur does not mean that you cannot also have a good and stable family life.

10. Women in business need networks for different areas of entrepreneurs. There is also a need for the law on non profit organisations that gives breath to small associations like ours. Council member Margaret Attard also read out a message sent by the world president of Femme Chefs D'Entreprises Mondiales for the occasion.

Coinciding with the International Day for Women in Business, Bank of Valletta signed an agreement with the Malta Association of Women in Business, whereby it confirmed its support as the official sponsor and banker of the Association.

The agreement was signed by Elvia George, executive head, responsible for Finance at Bank of Valletta and Ms Galea.

"We are delighted to extend our association with this association that brings together women entrepreneurs," Ms George said upon signing the agreement. The agreement also incorporates a package of added value benefits that Bank of Valletta is making available to the members of the Association.

Ms George explained that an important pillar of the Bank's Community Programme focuses on business strategic alliances whereby BOV seeks to support organisations which play an important role in co-ordinating the efforts of entrepreneurs and business organisations.

"The collaboration between the Bank and the Malta Association of Women in Business dates back to the year 2002 and we are confident that through this new agreement we'll be playing an even greater role in supporting the business success of the members of this Association," concluded Ms. George.

Ms Galea, explained the scope of the association. "Through our networks, we keep our members updated with changes taking place on the local scene as well as beyond our shores. We also seek to provide them with the opportunity to network and expand their business," explained Ms Galea. She went on to expound that, "In order to promote our cause, we communicate with Government agencies, private organisations and other associations, in the pursuance of innovative and effective changes in the business, economic, social and public policy arena."

Founded in 1991, the Malta Association of Women in Business set out to promote an environment for women to grow and develop in their business and profession. Only a year later, the association became a full and active member of FCEM (Les Femmes Chefs d'Entreprises Mondiales), which has representative status at the United Nations (New York), The Council of Europe (Strasbourg) and the European Parliament (Brussels), among others.