In early 2018, Angelo Xuereb, chairman of AX Group, was named Malta EY Entrepreneur of the Year. As nominations for this year’s award draw to a close, he talks about what inspired him to participate and the experience of winning this prestigious award.

As one of Malta’s most recognised, and recognisable, entrepreneurs why did you decide to participate in EY’s Entrepreneur of the Year Award?

As a born entrepreneur with a successful career, I felt I possessed the right criteria and attributes to compete for this award. I also wanted to provide inspiration to those who wish to achieve success in their career by demonstrating that having the right attributes and attitude makes it is possible to triumph over adversity. In fact, I had published my autobiography to give an opportunity to those eager to find out more about the trials and tribulations of an entrepreneur’s life.

2018 Malta EY Entrepreneur of the Year Angelo Xuereb with EY Malta managing partner Ronald Attard.2018 Malta EY Entrepreneur of the Year Angelo Xuereb with EY Malta managing partner Ronald Attard.

What was the judging process like?

The judging process was very smooth and well organised. The process was more like a friendly discussion about my career, recalling the early days and my career journey. The judges had already been briefed about my achievements and asked certain questions on what I found most important in achieving success.

Did you expect to win, and what did you think when your name was announced?

Naturally, I was delighted to be bestowed this prestigious award. I felt I might have a chance, but you are never sure, right up to the moment your name is announced. I was mostly happy due to the fact that a large and prestigious international organisation such as EY had recognised the 43 years of hard work I have invested in my enterprising career. They have recognised my God-given talent, merged with the skills I have developed over the years, and the vision, efficiency and sheer determination I have shown in managing to fulfil to the dream I have had since I was a young man.

One of the benefits of being named EY Malta Entrepreneur of the Year is that you participated in the EY Global Entrepreneur of the Year event in Monaco. How was your experience at this event?

Contesting with world-class entrepreneurs was an unforgettable experience. It is hard to explain this experience and understand it without actually experiencing those four glamorous days. Monaco seemed to have been completely taken over by the event. With banners and hostesses everywhere, and a significant international media presence, there were many opportunities to meet and dialogue with other international entrepreneurs as well as draw inspiration from the many renowned personalities who were invited as keynote speakers and who regaled us with some very interesting presentations.

In certain instances I also forgot that I come from tiny Malta, and I found myself thinking more at macro level. Although I was one of the 48 countries’ representatives and hail from a tiny nation State, I was still afforded the same treatment as those from large countries such as the US, China, Japan, England, Germany, Italy and Saudi Arabia.

I felt honoured to be recognised for my 43 years of hard work and sheer determination to achieve success

There were about 1,500 delegates attending the various conferences, lunches, dinners and special celebrity evenings. The highlight was the awards ceremony night in a magnificent large hall, a spectacular venue by the sea, which was made even more magical by the fireworks display and music. It was a great honour to be called up on stage representing my country in the presence of all those esteemed guests. In short, it was a once-in-a-lifetime experience.

When looking back at your EY Entrepreneur of the Year experience, what do you feel you personally, and your business, gained?

Personally, I felt honoured to be recognised for my 43 years of hard work and sheer determination to achieve success.

I also feel that the fact that I was publicly recognised in such a prominent manner gave the public a better understanding of my achievements.

My group of companies is very much associated with me personally and it is therefore natural that this award has strengthened the public’s understanding of what we do and an appreciation for what we stand for.

What advice would you give other entrepreneurs who are thinking about taking part in this year’s award?

My advice is to go for it and not be afraid. Be proud to be in the company of other entrepreneurs, who like you, have been working hard and taking risks to achieve success. Everyone has their own story to tell, although there can only be one winner. However, those who do not pick up the award should take the positives and pride in having been selected to compete within the top few local entrepreneurs. Both your organisation and yourself will be given recognition and more respect.

What advice would you give aspiring entrepreneurs who are thinking about taking the plunge and setting up their own business in 2019?

Business life is full of challenges, and there is satisfaction and disappointment in equal measure. All of us have strengths and weaknesses but what’s most important is that we do not lose focus on our objectives and keep moving forward.

Nobody is perfect and everybody is liable to make mistakes. Only those who sit idle make no mistakes and failure is not the end of the world. The most important thing is to learn from them and move on.

Nothing comes easy. I’ve had a successful career but I couldn’t have done it without vision, determination and persistence.

Success is 80 per cent sweat and only 20 per cent inspiration, not the other way around. You have to work hard to achieve your goals. There is no magic wand that turns coal into gold. When you conclude a deal, get on with the work as soon as possible in order to keep the momentum going and not give your competitors a chance to catch up with you.

Now more than ever, entrepreneurs need to remember that apart from innovation and diversification, they need to be well informed of new developments to guarantee long term success. Disruptive technologies are constantly changing established business models.

Entrepreneurs must also set themselves apart through their values and integrity. We’re sometimes tempted to go for the easy money, which may work for some, but it’s a dangerous course.

Creativity is the game for progress which in turn relates to wealth. Creative entrepreneurs are therefore to be considered as the lead for tomorrow’s progress. Progress is not achieved without the sheer determination to succeed. This is why I like to call determination the sweet and sour of success.

Nominations for the 2019 Malta EY Entrepreneur of the Year Award are now open and run until January 31, 2019. The competition is open to entrepreneurs from all sectors, established and new, with the winner being announced during an award ceremony in March 2019. To apply and for further information visit www.eoymalta.com

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