Malta has been gaining popularity as a destination for startups and entrepreneurs. The Maltese government has actively worked to create a business-friendly environment, and several factors have contributed to the growth of startups in Malta. The ‘Start in Malta' business is a governmental initiative aimed to supercharge the Maltese startup ecosystem for it to be the birthplace of many more startup success stories in the future.
Last week our team at Fairwinds Management has exhibited and attended the third edition of the Startup Festival in Malta. The event was a success, attended by many, and attracted many local and international businesses from various sectors including FinTech, gaming, VR/AR, Metaverse, medicinal cannabis, BioTech, MedTech and the Blue Economy.
Startups bring innovative strategies designed to accelerate growth and diversify the economy while expanding into new markets. In the journey of establishing a startup, there are numerous critical steps and activities that need to be undertaken, such as generating great ideas, fostering innovation, conducting market research, developing business plans, defining goals, mission, values, and objectives, attracting investors, securing loans, raising funds, and implementing effective marketing strategies.
Here are some key points about startups in Malta:
- Business-friendly environment
- Access to EU Markets
- Financial services and blockchain
- Startup hubs and incubators
- Tech and gaming industry
- Co-working spaces
- Skilled workforce
- Funding opportunities
- Hospitality and ambience
Embarking on the journey of establishing a startup can be challenging, with various obstacles to overcome, including the search for capital, talent acquisition, legal compliance, and financial management. However, the rewards are substantial when a startup successfully secures the necessary funds and thrives.
Fairwinds Management, through it's legal and accounting team, can assist startups in Malta with various services under one roof, including:
- Startups consultancy
- Business plan drafting
- Financial projections and budgeting
- Company formation
- Legal services
- Trademark registrations
- Administration services
- VAT administration
- Accounting services
- Payroll services
- Tax advice
- Funding opportunities
Our team is well-equipped to provide support across the entire spectrum of business development, from the conception of a business idea to its practical implementation. With our extensive experience working with a diverse range of businesses, both small and large, spanning various industries, our startup services are tailored to assist you at different junctures in your business journey, with a particular emphasis on the growth phase. We offer expert guidance and impartial financial insights to steer your business venture towards success.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.