Roadmap for starting a

NEW BUSINESS

Published by Malta Enterprise

© Malta Enterprise 2004
Contents
Introduction 1 The Business Plan 11
Elements of a Business Plan 11
Using this Guide 1 The Business Plan in outline 11
Hints and issues 2
Glossary 2 Bank Facilities 13
Normal bank accounts 14
The First Steps 3 Current accounts 14
Stage 1 3 Savings or term accounts 14
Stage 2 4 Special facilities 14
Stage 3 4 Overdrafts and loans 14
Stage 4 4 Seed and venture capital 15
Stage 5 4 Other 15
Bank cards 15
The Start-Up Mentor 5 Company in Formation accounts 15
Choosing your mentor 5 Bank tips 16
What to look for 5
Whom to choose 5 Register the Company 17
The mentor / advisor 6 Preparing to register the Company 17
Registering the Company 17
The Legal Format 7
The legal formats 7 Register with ETC 19
Sole Trader 7 Declaration of Commencement of Employment 19
Partnerships 8 For self-employed 19
Private Limited Liability Companies 8 For employees 19
Co-operatives 9 First time employment 19
Making the choice 9 The forms 20
Getting the forms 20
Submitting the application 20
Register with Inland Revenue 21 IT & Communications 35
Registering yourself 21 Telecommunications 35
Application 21 Telephones 35
Your personal Provisional Tax and Social Security Contributions 21 Mobile phones 36
Registering your Company 22 Fax 36
Application 22 E-mail 36
Reporting 22 Internet 37
Employing staff 23 Office equipment 37
Application 23 Computers 37
Employee deductions 23 Printers 37
Starting your reporting 24 Scanner 38
Photocopier 38
Register with the VAT Office 25 Office applications 38
Registering for VAT 25 Business applications 38
Anyone registering for VAT 25 Other useful applications 38
Registering a Partnership 25 Network 39
Registering a Limited Liability Company 25 Shredder 39
If you are already VAT registered 27 IT administration & support 40
Reporting 27
Further details 27 Protect Your Ideas 41
Trademarks 41
Obtain a Trading License 29 Patents 41
Designs 41
Import/Export Licenses 30 Copyright 41
Register your intellectual property 42
Planning Permits 31
The new business 31 Useful Addresses 43
Environment and planning 32
Glossary of Terms 47
Accounting Assistance 33
Data Protection 34
 Introduction
If you are about to embark on a new business venture then you are faced with
the task of getting all the pieces together in the right order and at the right
time to ensure a quick and smooth start-up for your business.
The setting up of a new business is a relatively straightforward process if you
know the right approach. But not everyone knows what is required and,
without proper guidance, it can be a daunting task.
This booklet is intended to address this problem by making the process of
setting up a new business clearer. It is intended to offer you a simple roadmap
of the various tasks that you need to undertake when starting a new business.
However, there are instances where you must follow the prescribed sequence. An
example is when a company is registering for VAT. This can only be done once
you have registered with the Registry of Companies and the Inland Revenue.
It is therefore recommended that you follow the sequence give wherever possible
if you want a rapid and smooth journey towards your business start up.
Hints and issues
Within the contents of this booklet, specific hints or warnings have been
included (Coloured exclamation mark) to better help you identify key actions
or issues that need to be tackled.

This booklet provides you with a clear and comprehensive checklist of the
activities you need to undertake. It also helps you to identify the various
entities that you will need to contact as part of the setting up process of the
new business.
! This signifies a ‘Hint’ or a ‘Suggestion’

In addition it provides you with hints on specific issues that you need to be
aware of when embarking on your new start-up journey.
! This signifies a ‘Stop’ or a ‘Major Issue’ that requires special attention
and which needs to be tackled before proceeding.

Using this Guide Glossary

This guide outlines the main steps that you will need to follow when starting
As you read this booklet, you will definitely come across some ‘phrases or
your new business journey.
terms’ that will be new to you. A glossary giving a brief definition of these
terms has been included to help you understand them. The ‘Glossary of Terms’
In some instances the steps listed in the guide have to be followed in sequence.
can be found at the end of this booklet.
However, this does not mean that you cannot carry out two or more steps
simultaneously when it is logically possible to do so.

1 2
 The First Steps
Starting and managing a business demands motivation, desire and talent. It Stage 2
also requires market research and good planning. Next you need to determine what business is "right for you." Ask yourself
these questions:
Being successful in a small business can only be achieved if you take the
correct actions in the right manner from the very start of your new business • What am I good at?
• What do others think that I am good at?
journey.
• Do I have a pastime or hobby that is marketable?
• Do I have the support of my family?
When starting a business some initial mistakes are inevitable. While these may
not necessarily prove fatal, it would be a lot better to spend time and effort in Stage 3
careful planning than in correcting mistakes. You need to identify the niche or special need that your business will fill:

If you want to succeed, you need to spend the time to explore and evaluate • What sort of business am I interested in starting?
your personal and business objectives. You need to be very clear in what you • What services or products will I be selling?
want to achieve both personally as well as in your chosen business.
Stage 4
You will then need to carry out the necessary research to answer these questions:
Once you are clear on your personal and business objectives, you can then use
this information to build a comprehensive and well-prepared plan of action • Is my idea practical?
that will help you reach these goals. • Is there a need for my services or products?
• Can I create a demand for my business?
The first steps in setting up a new business are the most crucial ones. These • Can I deliver a quality service or product?
can determine the success or failure of your new venture. Certain important • What is my competition?
• What is my advantage over the competition?
points which you need to consider have been listed on the following pages.
Stage 5
The final step before moving on to develop your plan is to carry out a pre-
Business Plan checklist. You need to answer these questions:

! The process of developing a Business Plan will help you think through
some important issues that you may not yet have considered. Your
Business Plan is a valuable tool not only to help you to raise money
but also to serve as your map on the road to success.
• What skills and experience do I bring to the new business?
• What will my legal structure be?
• What will I name my business?
• How will my business records be maintained?
• Do I need insurance cover?
Stage 1 • What equipment and supplies will be needed?
Before starting out, list your reasons for wanting to go into business. • Do I need to employ people?
Some of the most common reasons for starting a business are: • Do I need to engage external providers of services?
• What financing will I need?
• Where will I locate my business?
• You want to be your own boss
• How will I get paid?
• You want financial independence
• You want creative freedom Your answers will help you create a focused, well-researched plan of action
• You want to use your skills and knowledge for your own gain that should serve you as a map for success.

3 4
 The Startup Mentor
When you are setting up your new business you will definitely need some
advice on the best available options for your new initiative.

You will need to know what entities to contact and what you need to do to
comply with the current laws and regulations that affect your particular
! Do not use someone as an advisor just because “he has been in
business for quite some time!”

business activities.
A reliable advisor, who is capable of giving the right advice and assistance, is
essential. A good advisor will be happy to offer you sound advice during your
start-up process; however, the quality of this advice will depend on the
completeness and accuracy of the information that you provide.
CHOOSING YOUR MENTOR
What to look for
When selecting your mentor / advisor you should check that the advisor:
This does not assure you that you will get good advice. You may
actually be getting advice that is out of date. This could put you in an
irregular position with the authorities regarding compliance with the
latest regulations.
THE MENTOR / ADVISOR
There are various firms as well as individuals who can provide you with excellent
advice and mentoring when you are starting a new business.
You have various choices open to you ranging from qualified individuals to
large firms. Your choice will be determined by the size of your business, the
level of service you require and the budget you have allocated for such services.

• Is knowledgeable about new start-ups

!
• Has experience with businesses such as your own
Talk to the firms or individuals whom you think would be suitable
• Is informed on local laws and regulations
for you.
• Is really interested in helping you and not just looking at you as another
source of revenue Choose the one whom you feel most comfortable with.
• Will be available not only during the initial planning but also during the
first crucial months of your new venture

Whom to choose
When it comes to choosing a suitable advisor who has experience with assisting
business start-ups, you would probably be best served by someone who is:

• A Business Mentor / Advisor or

• An Accountant or
• A Lawyer

in that particular order of preference.

5 6
 The Legal Format
When you come to set up your new business you will need to decide what 2. Partnerships
legal format you want to operate under. This is one of the most important Partners need to register with the Inland Revenue as self-employed. It is
decisions you need to take at an early stage as this will determine how you wise to seek the advice of a lawyer and form a 'deed of Partnership'.
will operate your business in the future.
Liability: If the business fails, then the owners are fully
THE LEGAL FORMATS responsible for all the business debts.
The most common legal formats for businesses are: Management: The partners share responsibility for controlling the
business.
• Sole Trader Finance: Generally, the partners’ private funds provide the
• Partnerships Company’s finances.
• Private Limited Liability Companies Profits: All profits are shared between the partners (as
• Cooperatives agreed within the 'deed of Partnership').
Taxes: Self-employed status. Even if the partners do not
To determine what legal format is best for you, you need, first of all, to draw on the profits they are still taxed. Losses can be
understand some of the basic differences namely: offset against tax on other income.

1. Sole Trader 3. Private Limited Liability Companies

Sole Traders need to register with the Inland Revenue as self-employed. Companies cannot just start operating but need to follow a predefined
Unlike other business formats, Sole Traders (and Partnerships) can start process of registration and set-up (please refer to the section ‘Register the
trading straight away as long as the required permits and registrations are Company’ on page 17). It should be noted that a Company is a legal entity
carried out. in its own right.

Liability: If the business fails, then the owner is fully
responsi ble for all the business debts.
Management: The owner is solely responsible for controlling the
business. The owner’s word is final.
Finance: Normally, the owner's personal money.
Profits: All profits go to the owner.
Taxes: Self-employed status. Even if the owner does not
draw on the profits they are still taxed. Losses can be
offset against tax on other income.
Liability: The shareholders' personal assets are protected if the
business fails (Limited Liability). The shareholders can
only lose what they have put into the business.
Management: The business is controlled by the Board of Directors.
Each director is held personally responsible for its
management and must act in the Company's best
interests.
Finance: Generally, the shareholders’ private funds and/or
bank facilities provide the Company’s finances.
Profits: Dividends are paid to the shareholders.
Taxes: The Company pays taxes on its profits. All employees
and directors pay taxes on income earned through
wages, salaries or other forms of remuneration.

7 8
 4. Cooperatives
A Cooperative is similar to a Company but its employees, or a large
percentage of them, own the Company. A Cooperative cannot just start
operating but needs to follow a predefined process of registration and
set-up (please refer to the section ‘Register the Company’ on page 17). It
should be noted that a Co-operative is a legal entity in its own right.

Liability: The shareholders' (employees’) personal assets are

protected if the business fails. The shareholders can
only lose what they have put into the business.
Management: A Board of Directors controls the business. They are
each held personally responsible for its management
and must act in the Cooperative’s best interests.
Finance: Generally, the shareholders’ personal money or bank
facilities provide the Company finances.
Profits: Dividends are paid to the shareholders.
Taxes: The Cooperative pays taxes on its profits. All
employees and directors pay taxes on income earned
through wages, salaries or other forms of
remuneration.

MAKING THE CHOICE

The type of legal format you choose depends on what type of business you
will be setting up and what industry sector you will be operating in. In addition
it also depends on the number of people investing money in the new venture.

The legal format of your new business should be reflected in your Business
Plan and the strategies contained therein. Please refer to the next section for
more details about the Business Plan.

9
 The Business Plan
One of the most important cornerstones of starting a business is the Business
Plan. Business planning is a process that every enterprise should undertake as
it provides the basis for sound management.

The plan should detail how the business will be operated, managed and
! What is actually included in each specific Business Plan depends a
lot on the type of business and the industry it intends to operate in.
This is particularly true of the financial details section of the plan.

funded. It should be your blueprint for all your activities not only during the
Once you have completed your Business Plan, review it with a friend or business
start-up phase; but also throughout the lifetime of your business.
associate. When you feel comfortable with the content and structure, make an
appointment to review and discuss it with your business advisor.
ELEMENTS OF A BUSINESS PLAN
The cardinal elements of the Business Plan are:
You may want to seek external assistance with the preparation of the Business
Plan. Malta Enterprise offers guidelines and guidance on preparing a solid
• The Marketing Plan
Business Plan with all its essential components.
• The Operations Plan
• The Human Resources Plan
• The Financial Plan

Appendices can be included in the Business Plan and should cover supporting
documents, market research findings and financial projections.
! It is important to note that a Business Plan is not intended just to help
you acquire funds from the bank, or as a document required by some
agencies to provide you with assistance.

The Business Plan should be your constant companion – something

THE BUSINESS PLAN IN OUTLINE which is constantly evolving and against which you can measure your
Below is an outline of the main areas that would be covered in a typical progress towards achieving your business objectives.
Business Plan.

The Business Plan

1. Executive Summary
2. Mission Statement
3. Table of Contents
4. Description Of Product or Service
5. The Marketing Plan
6. The Operations Plan
7. The Human Resources Plan
8. The Financial Plan
9. Strategic Options
10. Milestone Schedule
11. Supporting Documents

11 12
 Bank Facilities
One of the first actions you need to take when starting a new business is to
set up banking facilities. These facilities can be listed as follows:
• Normal Bank Accounts
i. Current accounts
ii. Savings or term deposits
iii. Fixed deposits
• Special Facilities
i. Overdraft
ii. Loan
iii. Seed capital
iv. Venture capital
• Other
i. Bank cards (Debit / Credit cards)
ii. “Company in Formation” account
! You should not arrange any facilities with the bank until you have
completed your Business Plan. Only then will you be in a position to
really know what bank facilities you actually require.
Most bank managers would want to see your Business Plan before
taking decisions on what facilities to offer.
At some point you will need to choose a bank. There are a number of local
banks offering similar services. However, each bank offers these services under
different terms and conditions. Therefore, when selecting a bank it is
important to ask:
• Can you convince them that you are serious about your business?
• Do you feel comfortable with the selected bank?
• What are their charges and do they offer facilities for start-ups?
• What facilities are they prepared to offer you?
• What rates of interest will they charge?
It is definitely important that you select the bank carefully and that you are
aware of these differences before you decide on which bank to use.
13
! Seek advice on the different services and facilities offered
by each bank. Choose the one that best meets your specific
requirements.
NORMAL BANK ACCOUNTS
When you are starting your new business you will need to open one or more
accounts of the types described below:
Current accounts
You will need to open at least one ‘current account’ for your daily banking
activities. The bank will issue a chequebook for use with this account.
You may want to have more than one current account for different uses. You
might, for example, prefer to keep a separate account specifically for paying
out wages and salaries.
SAVINGS OR TERM ACCOUNTS
You may also need to think about having a different account to hold funds that
are being kept in reserve for special reasons. Such accounts could be used for:
• Payments on account from clients;
• Depositing money held as a reserve;
• Reserving money to pay taxes such as VAT or National Insurance contributions.
As a minimum you would normally want to have at least one ‘savings account’
or ‘term account’ for such use.
SPECIAL FACILITIES
Every business needs working capital in order to have enough disposable
funds available for operating the business until it starts generating sufficient
revenues. There are various ways in which you can acquire such working capital.
Overdrafts and loans
One-way of acquiring the necessary working capital would be to get a ‘Loan’
or an ‘Overdraft Facility’ from your bank. The one that is most appropriate for
you depends on your specific circumstances and on what facilities the bank is
prepared to offer.
14
 Seed and venture capital
Certain new businesses need a substantial injection of capital to be able to get
the business off the ground. There could be, for example, unexpected delays
between the start of operations and the generation of revenue. In such cases
you must ensure that you have access to sufficient funds until you become
fully operational.
Therefore, you may need to acquire ‘Seed Capital’ or ‘Venture Capital’ from
‘Venture Capitalists’ or ‘Business Angels’. Malta Enterprise can advise you on
what would be the best approach if you need to acquire such capital.
! You will definitely need to have a solid Business Plan if you think that
you may need to obtain Venture or Seed Capital.
OTHER
Bank cards
You could also apply for a debit and/or a credit card specifically for your
business activities. This helps you to keep business transactions made by credit
/debit card separate from your personal ones.
! If you are setting up your business as a Company and you intend to
apply for a debit or credit card in the name of the business, then you
will need to present the bank with a copy of the supporting ‘Board
Resolution’. In this resolution you would normally need to include the
person or persons who have been authorised to use the card.
Company in Formation accounts
If you are about to set up your business as a Company then you will need to
open a special type of bank account called a ‘Company in Formation Account’.
15
! You will need to open this account in order to deposit the paid-up
share capital into it before you register the Company.
The money that you deposit into this account will be made available for your
normal business activities after you have registered the Company.
! A copy of the ‘Company in Formation Account’ deposit slip will need
to be attached to the ‘Company Registration Application Form’ when
this is presented to the Registry of Companies at MFSA.
BANK TIPS
Before you go to the bank and meet the bank manager, you need to be well
prepared. Here are a number of tips that you should remember.
• Present yourself positively and demonstrate your commitment and
enthusiasm for your business.
• You will need to explain in detail the reasons why you are seeking bank
funding. This will enable the bank to inform you of the most appropriate
type of funding to meet your business' needs.
• Demonstrate that you have the appropriate experience and drive to run
your business effectively.
• Show that you have the ability to produce up-to-date and accurate financial
information to reassure the bank about your control over the business.
• Ensure that you have cash flow and budget forecasts that cover the period
for which you are requesting the facility.
• It is also essential that you clearly outline the sources from where you
expect to make the necessary repayments for the bank facilities.
• Ensure that you establish the correct amount that needs to be borrowed,
allowing for unexpected expenses. Borrowing too much will incur more
interest than you need to pay. Borrowing too little may leave you with
insufficient funds and will force you to return to the bank at a later date.
16
 Register the Company
The operations and activities of companies operating in Malta are regulated The entrance to the Registry of Companies (ROC) is situated at the back of the
by the Companies Act of 1998 which stipulates, amongst other things, that all MFSA building. When you go to the ROC you will need to take with you:
companies in Malta must be registered with the ‘Registry of Companies’.
• A copy of the ‘Memorandum and Articles of Association’
If you have decided to set up your new business as a Limited Liability • A copy of the bank’s ‘Company in Formation’ account deposit slip
Company, there are a number of the key points that you will need to consider. • A copy of the passport or some other official document of identification
(if the application is being made by an individual)
PREPARING TO REGISTER THE COMPANY • A copy of a certificate confirming the existence of the entity (if the
application is being submitted by a Company or other entity)
Prior to registering a Company, you need to consider and carry out the following:
A staff member at the ROC will help you to fill in the appropriate application
1. Define who the ‘shareholders’ will be form, which will then be forwarded to the Registry for vetting. This normally
2. Define the ‘share capital’ of the Company takes around four working days unless problems are encountered during the
3. Determine how much the ‘paid up share capital’ will be vetting process.
4. Determine who the ‘directors’ of the Company will be
5. Determine who the ‘Company secretary’ will be As part of the application process you should order at least four ‘certified
6. Define what the main ‘lines of business’ for the new Company will be copies’ of the Company’s ‘Memorandum and Articles’, which will be issued by
7. Choose a 'registered office' the ROC. You will need these copies for various purposes such as:
8. Choose a Company name
9. Prepare the ‘Memorandum of Association’ • Opening Company bank accounts.
10. Prepare the ‘Articles of Association’ • Registering for VAT.
• Your own Company records.

! The information for points 1 to 8 should be defined in your

Business Plan.

! When you register a Company, there is a registration fee plus a small

charge for the ‘certified copies’, which you have to pay when you
hand in the application form.
REGISTERING THE COMPANY

Once you have taken care of the above you are ready to register the Company. Once the application has been vetted, you can then pick up the ‘Company
Registration Certificate’ and the ‘certified copies’ from the ‘Registry of Companies’.
Company applications are made at:

Registrar of Companies
Registry of Companies
Malta Financial Services Authority
Attard

17 18
 Register with the ETC
When you are starting a new business you will need to inform the THE FORMS
Employment and Training Corporation (ETC) of the change in your employment
status. This is done by filling in the relevant declaration form. Getting the forms
The relevant Employment and Training Corporation application forms may be
DECLARATION OF COMMENCEMENT OF EMPLOYMENT obtained from the:

For self-employed • ETC office at Hal Far

This declaration should be filled in by any person who is starting self-employment • ETC office at Victoria Gozo
for the first time or by anyone wanting to resume self-employment. • Job Centres
• Local Councils
For employees • Department of Social Security Area Offices
On employing new staff a self-employed person must fill in the Declaration of
Commencement of Employment for every new person employed. In every case Submitting the application
of new employment, the engagement form duly filled in is to be sent to the The completed Employment and Training Corporation application forms and
ETC on the same day of commencement of employment. any supporting documents, as outlined above, should be sent to the ETC
offices in Malta or Gozo, which offices can be found at:

! You will need to ensure that the relevant application forms are sent in
to ETC prior to commencement of employment. These forms must be
received by ETC by the first date of employment.
MALTA

Employment & Training Corporation

Human Resources Information Unit
GOZO

Employment & Training Corporation

Mgarr Road,
PO Box 20 Victoria
FIRST TIME EMPLOYMENT Birzebbugia BBG 01

If you are being employed for the first time then you will need:

!
Employment forms can be sent in electronic format through the
• A birth certificate from the Public Registry ETC web site at www.etc.org.mt.
• Your identity card
To use this service you will need to first register by filling in the
• Forms NI 3 and NI 5 from the Department of Social Security
registration form in the Membership Section.
(Maltese nationals only)
• A Maltese person under 21 years of age but holding dual nationality
requires a Certificate of Nationality from the Department of Citizenship
and Expatriate Affairs
• A non-Maltese national requires
i. An Employment Licence from the Department of Citizenship and
Expatriate Affairs
ii. A Certificate of Exemption from Social Security Contributions by the
Department of Social Security

19 20
 Register with Inland Revenue
REGISTERING YOURSELF Alternatively, you can also contact the:

Application Contributions Section

If you are not registered with the Inland Revenue Department (IRD) then you Block 3A
will need to apply for registration at the: Inland Revenue Department
Floriana
Customer Care Section
Block 8 REGISTERING YOUR COMPANY
Inland Revenue Department
42 Vincenzo Dimech Street Application
Floriana Once you register your new Company with the Registry of Companies, it will
automatically be registered with the Inland Revenue.
You will need to take with you:
Therefore, while you will not need to register the Company with Inland
• Your identity card, or Revenue you will still need to get your ‘Company Number’ from Inland
• Some other form of identification, such as a passport. Revenue. The relevant ‘Inland Revenue Company Number’ which is of the
format ‘99xxxxxxxx’ can be obtained from:
Non-Maltese nationals, or those with dual nationality, need to take with them:
Companies Section
• A Certificate of Nationality from the Department of Citizenship and Block 1
Expatriate Affairs (if under 21 years of age) Inland Revenue Department
• An employee licence from the Department of Citizenship and Expatriate Floriana
Affairs (if applicable)

Your personal Provisional Tax and Social Security Contributions

Self-employed or self-occupied persons will need to submit payment of the
Provisional Tax (PT) and your Social Security Contributions (SSC) every four
months to the IRD. Relevant rates of payment can be obtained from the
! If you have set up a new Company then you will need the
‘Inland Revenue Company Number’ when you go to register with
the VAT Office.

Department’s Customer Care Section.

Reporting
The Inland Revenue Department has introduced a new reporting requirement
for Company Tax return called TIFD.

The TIFD is a tax index of financial statement information that is intended to

regulate the reporting requirements for tax purposes. It provides a new way to
collect financial information in a structured format that supports electronic filing.

21 22
 Having financial information in an ordered format allows the Inland Revenue
Department (IRD) to process returns more quickly and enhances the
development of tax policies and legislation by the Ministry of Finance.
Make sure that you account for your financial information in a way that is
compatible with the TIFD to avoid having to rework your data to comply with
the new requirements.
It is advisable to speak to your accountant about how to best record your
financial information in line the TIFD requirements.
Starting your reporting
On completion of your employment registration with the Inland Revenue
Department you are required to immediately send to the Inland Revenue
Department an FS4 form for each person that you intend to employ.
When you deduct FSS tax and Social Security Contributions (SSC) you need to
submit the amounts due to the Department together with the FS5 form by the
end of the following month.

!
Other reports and payments (such as Provisional Tax and FSS
& SSC) are to be sent to the Inland Revenue Department at periodic
EMPLOYING STAFF
intervals. Make sure to get the relevant details from the Department’s
Customer Care and Employment Section when registering.
Application
If you are going to employ persons, then you have to submit an ‘Employer
Registration Form’ to the Inland Revenue Department. This application should
be addressed to:

Employment Section
Block 3
Inland Revenue Department
Floriana

After you have completed this application you will be given an employer’s ‘PE
Number’, which you should quote on all FS4, FS5, FS3 and FS7 forms when you
are required to send such forms to the Inland Revenue Department. (please
refer also to the section on ‘Starting your reporting’ on page 24).

Employee deductions
As an employer you are required to deduct FSS tax and Social Security
Contributions (SSC) from the employees’ wages or salaries. You will need to
get the relevant details from the Employment Section when you apply for
the ‘PE Number’.

23 24
 Register with the VAT Office
All entities, including Partnerships, Companies or individuals must register with Application for VAT registrations should be made at:
the VAT office to comply with the local Value Added Tax legislation of 1998.
MALTA GOZO
REGISTERING FOR VAT
VAT Department VAT Office
Anyone registering for VAT 16, Centre Point Building Triq Enrico Mizzi
When you go to register with the VAT office you will need: Triq ta' Paris Victoria VCT 10
Birkirkara CMR 02
• A legal identification document (I.D. card / passport)
• An outline of your new business and what activities you plan to undertake A business is allowed to opt for registration as an exempt person when the
• The date when business activities started or will start turnover of the business is below the thresholds established by law.
• The planned turnover of the business
The turnover of a business is the total value of sales, excluding:
Registering a Partnership
• Exempt without credit supplies
• You will need to have the ‘Particulars of Partners Form’ (Form 005/99) filled • The transfer of a business as a going concern
in prior to applying at the VAT office. • The sale of fixed assets
• Supplies made to the business and deemed to be made by that business
Registering a Limited Liability Company under the reverse charge provisions

• A copy of the Articles of Association may be required The three applicable thresholds are:
• The Inland Revenue ‘Company Number’
• Lm 6,000 in the case of a service provider, where the value of the service
has a very high content of value added, i.e. the value of the goods

!
You must register with the VAT Office within 30 days from when you
incorporated with the supply are minimal, e.g. services of an accountant
start your business activity.
or a lawyer
• Lm 10,000 in the case of a service provider where the value of the service
There is a penalty for those who do not register within this
time period. includes goods which are incorporated in the value of that service, e.g. an
electrician or catering services
• Lm 15,000 in the case of suppliers of goods

25 26
 IF YOU ARE ALREADY VAT REGISTERED

Even though you may already be VAT registered it is important that you verify
whether you need to register again for the purpose of your new business venture.

If the new business activity is in addition to other business activities carried

out under an existing VAT number, the same number should be used for the
new activity. However, the registered person must inform the Department in
writing about the nature of the new business activity.

If the new business activity will be carried out under a new Limited Liability
Company, then a new registration is required.

REPORTING

Individuals or entities that are VAT registered have to regularly send in a VAT
Return that would include the total sales, purchases and VAT credit or payable
amounts. This declaration would normally have to be sent in every 4 months
unless otherwise indicated by the VAT office.

For further details on VAT reporting you should obtain a copy on how to
complete the VAT Return form (Form 007/99). This is available from the VAT
Office itself or can be downloaded from their website at: www.vat.gov.mt

FURTHER DETAILS

There may be other factors under the VAT regulations that have direct bearing
on you as an individual or on your business. It is therefore advisable to consult
the VAT Office on your specific circumstances and on how you should register
yourself or your Company / Partnership.

Specific answers to frequently asked questions (FAQ) can be found on the VAT
Office web site at: www.vat.gov.mt/faq_eng.asp

Alternatively please refer to the VAT Office publication entitled “Answers to

Frequently Asked Questions”.

27
 Obtain a Trading Licence Import/Export Licences
All businesses need to apply for a Trading Licence from the Trade If as part of your new business you are planning to import or export items
Licensing Directorate. such as:

Certain types of businesses, such as manufacturing and engineering works • Raw Materials
need special permits and have to comply with specific regulations relating to • Goods or Products
environmental and waste control before they are issued with a Trading Licence. • Machinery
• Semi-finished Goods
You can get further details relating to your specific licensing needs from: • Etc.

Trade Services Directorate Then you will need to obtain an Import or Export Licence for the above items
Commerce Division before you can proceed with your import or export activities.
Lascaris
Valletta You should submit the application for an Import or Export Licence as early as
possible, before you make any contractual commitment.
Or by visiting the relevant web site at:
www.mcmp.gov.mt/commerce_trade06.asp In certain cases special import or export authorisations are required before
obtaining the relevant licences, which authorisations are normally valid for 1 year.
The Directorate also produces a number of booklets and other related material,
which covers matters regarding trade licensing. These are available from the You can get further details relating to your specific needs from:
above addresses.
Trade Services Directorate
Commerce Division
Lascaris
Valletta

Or by visiting the relevant web site at: www.mfin.gov.mt

The Directorate also produces a number of booklets and other related

material, covering matters of interest regarding importation and export of
goods. These are available from the above addresses.

29 30
 Planning Permits
Planning permits from the Malta Environment and Planning Authority (MEPA) ENVIRONMENT AND PLANNING
relate to the type of operation that any business is engaged in. These can vary
from “change of use” for existing premises to completely fresh permits for Whatever the nature of your new business you will need to comply with the
new sites. These permits take into account various factors ranging from Environmental and Planning Regulations currently in force such as:
parking facilities to environmental issues.
• Building Planning Regulations
THE NEW BUSINESS • Integrated Pollution Prevention & Control Regulations
• Waste Management Regulations
In the process of setting up your new business activity you may be: • Protection of Waters against Pollution

• Changing the function of the building

• Carrying out structural changes to the premises which may also include
the façade
• Changing the use of the premises (e.g. from a residence to an office or
from a garage to a warehouse)
! The need to apply for permits depends upon the specific type of
business and its location. In any event it is always a good idea to
verify with the Malta Environment & Planning Authority (MEPA).

• Building new premises such as new offices, a warehouse or a factory

To ensure that you comply with the Environmental and Planning Regulations,
Planning permits may also be required if the business: and to verify what permits, if any, are required for your new business, it is best
that you contact the:
• Creates commercial waste
• Creates chemical waste Malta Environment & Planning Authority
• Creates dangerous by-products St. Francis Ravelin
• Has an impact on the environment through various other types of Floriana
pollution such as:
- Plant fumes (e.g. engine exhaust) Another entity that may be useful to contact, particularly in relation to
- Dangerous fumes (e.g. toxic gas, sawdust, flour dust, engine exhaust) environmental issues, is:
- Sound (e.g. noise, machinery)
- Light (e.g. welding, area lighting) Environmental Health Unit
Civic Centre
Convent Street
Zabbar

31 32
 Accounting Assistance
All businesses, irrespective of their size, have to comply with various financial
regulations and requirements. For example you will have to regularly send in
fiscal reports to the VAT Department about the VAT collected from your sales,
or for refunds of VAT paid on purchases. Even small businesses have to comply
with these regulations.
If you have set up your business as a Company then you will need to prepare
accounts and yearly financial statements that must comply with the current
accounting standards. Additionally, when you come to report to the Inland
Revenue, your system must comply with the new tax reporting structure (the
‘TIFD’ format).
If you have loan or overdraft facilities, the banks will also need to regularly
know how your business is performing. Besides all this, the need for up-to-date
financial information is essential for good business management.
To ensure that you have the correct financial information for the purposes of
Tax, VAT, Banks etc. you will need the services of an accountant.
If you are starting a small business then you will probably need the
accountant’s services only on a part-time basis. You may require these services
more regularly if you are setting up a large business.
Data Protection
In May 2002, Government enacted the Data Protection Act of 2002, which is
aimed at protecting and controlling the use of personal information.
Basically, this new legislation requires that:
• Personal information is only gathered for a specific purpose.
• The individual about whom information is obtained knows that you are
gathering and storing information about him or her.
• The personal information is used only for the purpose for which it
was obtained.
• Personal information is not passed on to third parties without the
individual’s consent.
• Individuals have access to the personal information retained by others.
• Use and access to personal information is controlled.
The Data Protection Act only covers information about persons and does not
cover commercial entities. However, it may still have some bearing on your
business activities as, from time to time, you may need to obtain data on
individual clients or the staff that you may need to employ.
It is best that you seek professional advice on the question of compliance with
the Data Protection Act.

There are various suitably qualified freelance accountants whom you can
engage. Alternatively, you may prefer to go to an accountancy firm and
request them to provide you with the required services. This depends on your
budget and size of business.

Finding the right financial advisor is essential and Malta Enterprise can help
you with identifying suitable individuals or firms who can provide you with
accountancy services.

!
Talk to various accountants and see how you feel about them.
Then select the one you feel most comfortable with.

Remember that this individual will be assisting you in a very crucial

part of your business.

33 34
 IT & Communications
No business can operate efficiently and effectively without proper Information
Technology (IT) and Communication facilities.
Below you will find a basic outline of what IT and Communication facilities
you may require when you set up your new business.
It is highly recommended that you acquire the services of a professional IT
advisor who can give you the right advice on the options available regarding
both hardware and software requirements.
Finding the right advisor is essential and Malta Enterprise can help you with
identifying suitable companies and individuals who can provide you with an
unbiased professional advice in this field.
TELECOMMUNICATIONS
Telephones
To obtain a new service or to transfer an existing service to your new business,
you need to apply at Maltacom’s main centre at:
One Stop Centre
St. Francis Centre
Floriana
Or, alternatively, you may go to one of Maltacom’s branch offices.
If your business is going to employ a number of people, then you may also
want to consider installing a small multi-line automatic telephone switching
system (or what was known as a PABX). This may be purchased from all leading
telephone equipment suppliers.
35
Mobile phones
Many businesses today need to have their key staff accessible via a mobile
telephone. You need to consider this option and decide whether you want your
customers and suppliers to be able to contact you at any time and anywhere.
Fax
Although there are various alternatives to FAX, most businesses still need to
send and receive faxes.
The most straightforward solution is to buy a FAX machine from one of the
local office equipment suppliers. There are various makes and models all with
different facilities. You should look around for the right type for your specific
needs as prices can vary a lot depending on the features available.
With FAX machines today, you have the facility of using the same telephone
line for voice as well as fax communication. If you want to operate the FAX
separately from your telephone, then you should apply for a separate fax line
from Maltacom when you apply for your telephone connection.
E-mail
E-Mail is a messaging facility that allows you to send messages, letters,
documents and any other electronic material to practically anywhere around
the globe. At the same time e-mail provides an easy way for your customers
and suppliers to communicate with you at any time or day.
Depending upon your specific line of business, having an e-mail address can
be as important as having a letterbox, telephone and fax combined.
It is highly recommended that you get at least one e-mail address for your new
business. Some businesses have an e-mail address for each of their key staff.
To have e-mail facilities you would also need to have an internet connection
and quite often one or more e-mail addresses are included free in the price
for an internet connection by the Internet Service Provider (ISP) (see the next
section for more details).
36
 Internet
More and more businesses today, even small ones, are finding it essential to
have Internet browsing facilities to search for suppliers and products.
Even if you do not think you need this capability when you start your business,
you will still need an internet connection and account if you intend to send
and receive internet e-mails.
To obtain an internet connection you will need to contact one of the many
local Internet Service Providers (ISPs).
OFFICE EQUIPMENT
Computers
Nowadays computers have become an essential office tool. They can perform
a large variety of tasks from letter writing to accounts.
There are many computer brands available and there are various types of
computers that could suit your needs. Always seek advice when purchasing
computer equipment.
Printers
If you have a computer then you will need a printer to go with it. There are
various types of printers with a very wide range of prices. The main types are:
• Dot-matrix (for long reports, production data etc)
• Inkjet (for colour printing in small runs)
• Laser (for high quality single colour printing)
• Colour Laser (for high quality full colour printing)
Except for the colour laser types, printers are generally not expensive to buy.
However you need to keep in mind their running costs as cartridges or
toners have to be purchased when they run out. Your local IT shop or office
equipment supplier would to able to assist you in selecting the right printer
for you office needs.
37
Scanner
If you need to convert pictures or paper documents, such as letters or drawings,
into electronic format for use on a computer then you will need to buy a scanner.
Photocopier
A photocopier is probably a must for any office. Small models have become
quite inexpensive but you need to check their running costs. Photocopiers need
to have their toners replaced regularly, and they also need frequent servicing.
Office applications
As in any business, you need the necessary office tools to be able to operate
effectively. The same can be said for your computer programmes (Software
such as word processors, spreadsheets etc.).
Business applications
You will also need some core applications for your business activities such as:
• Accounting system (for your financial accounts and VAT)
• Payroll (if you intended to employ people)
• Cash register or point-of-sales system (for retail sales)
• A quotation system (might even be a spreadsheet)
• A stock control system (for more than just a few items)
Your requirements will depend on your specific business.
Other useful applications
• Anti-virus software
• Backup system (to make copies of important information)
! If you are starting a small business do not worry that you are going to
need a lot of computers to run these programmes. In fact, all of the
applications mentioned above can easily run on one PC.
38
 IT administration & support

! All the applications mentioned above do not need to cost you a lot of
money. There are programmes suitable for normal office work that are
either free or are very low priced. These are fully licensed products and
NOT illegal pirated copies!
If you intend to set up more than a few PCs in your new business then you
will probably need to engage someone to take care of the maintenance and
support of these computers as well as of the applications installed on them.

Therefore, it is important to get good advice before purchasing You will definitely need someone available from time-to-time to maintain the
computer programmes. applications and help you solve problems when they occur.

If you are starting a small business, this does not mean that you need to
employ a full time person. You can make use of the services of a knowledgeable
Network
IT systems administrator or else engage one of the many IT companies who
If you are going to need to use two or more computers in your business then
provide IT support services.
you may need to think about how to connect these together so that you can
share letters, files and other information between computers.
On the other hand, if you are starting a larger business then you would
probably need to employ somebody for the day-to-day administration of
A network would also be required if your staff are going to use the internet
your computer systems.
or to send and receive e-mails. It is much simpler, and possibly cheaper, to use
a network with a central connection to the internet rather than providing
Great care must be taken with the administration and support of your
each one with a separate connection to the internet.
computer systems. Remember that your IT systems administrator will have
access to confidential information about your business.
It should be noted that today it is relatively inexpensive to set up a small
network to connect a number of computers together.

Shredder
Most people forget that their paper documents can contain confidential
information which may be valuable or which they do not want others to read.
! The correct administration and maintenance of your IT systems is
vitally important. Therefore, it is advisable that you seek professional
advice on this matter.

A simple solution is to buy a small shredder so that any documents containing

confidential information can be destroyed before they are thrown away.

39 40
 Protect Your Ideas
When you are starting a new business you may be planning to manufacture
a new product or launch a new brand name. You may also be planning to
provide an innovative service to your customers.
Whatever the case, it is essential that you protect your ideas as well as any
trade names that you plan to use as part of your business. These all form part
of your business intellectual and/or industrial property.
REGISTER YOUR INTELLECTUAL PROPERTY
All applications are to be filed on the relevant application form. Power of
Attorney and Priority Documents must accompany each application where
applicable together with the respective registration fees.
These documents and any registration fees should be submitted to:

You can protect your intellectual or industrial property by registering these Industrial Property Registration Directorate
with the Industrial Property Registration Directorate. This office receives, Commerce Division
examines and processes applications for the registration of Trademarks, Lascaris
Industrial Designs, Patents and Copyright in-line with local and international Valletta
legislation and regulations.

There are four main areas under which you can protect your property which are:

Trademarks
Registration gives protection to a sign (logo) that serves to distinguish the
goods or services of one organisation or individual from those of another.

Patents
Registration gives protection to a new invention containing an industrial
application.

Designs
Registration gives protection to a novel shape or pattern to be applied to a
particular object.

Copyright
Registration gives protection to a novel idea or to non-tangible items or
products. This covers material such as books, publications, software and other
intellectual property.

41 42
 Useful Addresses
Malta Enterprise Industrial Property Registration Directorate
Enterprise Centre Commerce Division
San Gwann Industrial Estate Lascaris
San Gwann SGN 09 Valletta

Tel.: 2542 0000 Tel.: 2569 0223

Fax: 2542 3401
E-Mail: info@maltaenterprise.com
Website: www.maltaenterprise.com
Department of Institutional Health
15, Merchant Street
Valletta CMR 02
Fax: 2569 0338
Inland Revenue Department
Commissioner of Inland Revenue
First Floor, Block 2
Inland Revenue Department
Floriana

Tel.: 2299 2421 Tel.: 22962248

Fax: 2299 2299 Fax: 21241328
Website: www.ird.org.mt
Environmental Health Unit
Civic Centre Maltacom p.l.c.
Convent Street One Stop Centre
Zabbar ZBR 03 St. Francis Centre
Floriana
Tel.: 2180 3222
Fax: 2180 3212 Tel.: 2121 2121
E-Mail: environmental.health@gov.mt Fax: 2125 2918

Employment and Training Corporation Malta Environment & Planning Authority

Head Office St. Francis Ravelin
Hal Far BBG 06 Floriana
P.O. Box 200
Tel.: 2165 4940 Valletta CMR01
Fax: 2165 5396
E-Mail: etc@gov.mt Tel.: 2290 0000
Fax: 2290 2295
Email: enquiries@mepa.org.mt
Website: www.mepa.org.mt

43 44
 Malta Financial Services Authority
Notabile Road
Attard

Tel.: 2144 1155

Fax: 2144 1188
E-Mail: registry@mfsa.com.mt
Website: www.mfsa.com.mt

Trade Licensing Unit

Commerce Division
Lascaris
Valletta CMR 02

Tel.: 2124 3071

Fax: 2124 0516

VAT Office

Malta Office
VAT Department
16, Centre Point Building
Ta' Paris Street
Birkirkara CMR 02

Tel.: 2149 9330 - 4 / 6

Fax: 2149 9365
Customer Helpline: 800 7 4404 (Freephone)
E-Mail: vat@gov.mt

Gozo Office
VAT Office
Enrico Mizzi Street
Victoria VCT 10

Tel.: 2156 0481

Fax: 2146 0482

45
 Glossary of Terms
Articles of Association This contains the rules for the conduct of the Equity Ownership in a business. Often expressed in percentage
Company's internal affairs. of ownership or shares of stock or stock options in
a Company.
Authorised Share Capital The total amount of capital a Company is authorised
to raise according to its Articles of Association. Line Of Business Type of business. Other terms for line of business
include product line, service line, or product category.
Board Resolution A decision taken by the Board of Directors of a
Company. Memorandum of Every Company has a ‘Memorandum of Association’,
Association which determines its name, where its registered office
Business Activity Any activity intended to earn a profit or to carry out may be situated and what it may do (its objectives).
a defined activity as part of the operations of a
business organisation. Paid-up Share Capital The total amount of funds that the shareholders of a
Company have paid to the Company for their fully
Business Angels Entrepreneurs who provide capital in the region of paid shares.
£10,000 to £250,000 in return for being part of a
growing successful business. Share Capital That part of the capital of a Company that arises
from the issue of shares. Every Company must
Capital Money or other assets used by a Company for the commence with some share capital.
transaction of business.
Shares Shares are small stakes in a Company. Anyone who
Certified Copies Copies of the ‘Memorandum & Articles’ that have been has shares is a joint-owner of the Company along
certified as ‘true copies’ by the Registry of Companies. with all the other shareholders.

Company Secretary The secretary is responsible for ensuring that the Shareholder Anyone who has shares in a Company or Partnership.
Company complies with the procedural rules and
regulations set down by law. Seed Capital The initial or start-up capital of a Company or business.

These include the preparation of notices and minutes
of meetings; filing returns at the Registry of
Companies; maintaining and updating the
Company’s statutory books.
Current Account This is a bank account that allows you to deposit
money and effect payments as part of the day-to-day
business of the Company.
Director A person appointed to direct the business of a
Company at Board level.
Savings Account A Savings Account pays you interest on the amount
you have saved and is designed for putting money
aside for some future requirement. You can use it to
either save regularly or pay into it when you have
some spare cash.
Term Account This is a bank account into which you can deposit
money at any time but from which you can
withdraw only at specific periods. These are more
suited for holding reserve funds rather than for
operational cash.

47 48
 Notes
TIFD TIFD stands for Tax Index of Financial Data and
represents a listing of items commonly reported on
balance sheets and income statements.

The TIFD is a structured approach for the presentation

of financial statement information that accompanies
the tax return.

Venture Capital Money provided by professionals who invest alongside

management in young, rapidly growing companies
that have the potential to grow.

Venture Capitalists Venture capitalists often have experience in providing

funds for start-up companies. Venture capitalists are
usually active investors. Once they invest in a start-up
Company, they take a seat on the Board of Directors
and consult regularly with the Company's senior
management as they seek to build their business.

Working Capital The money available to a firm to pay for all its
day-to-day activities such as wages, raw materials,
bills and so on.

49
Entrepreneurship -
Self Assessment Survey 3. Self-reliance
Small business owner/operators must be confident in their abilities, self-reliant
* Optional enough to go their own way when necessary, and optimistic that they will
Contribution of: succeed. This section will help you determine if you have these characteristics.
*Name & Surname:
*e-mail Address: Yes No

*Address: 9. I believe in myself and feel that my performance will determine

whether I will succeed or fail. I have the courage to try new
Sector/Activity:
things. I see myself as strong and in control, and I don't
1. Skills hesitate to express my ideas.
This section will help you assess your understanding of what the life of a small 10. I like being independent and I can count on myself to get
business owner/operator is like, and whether you have the skills, attitude and things done. I enjoy making decisions and solving tough problems.
experience to be successful.
11. I'm a positive thinker, and I can envision my business succeeding.
Yes No
1. I have previously been involved in a small business. 4. HR Skills
Small business owners are constantly interacting with other people, from
2. The goals I set for my new business will be realistic and
bankers to employees to customers. This section will help you determine if you
achievable both for financial and other resources needed. I am
have the skills to effectively manage, lead, persuade, and communicate with others.
well-organized, and I manage my time well.
3. I am always looking for other ways to make money. Yes No
4. I understand the basics of business, including financing,
12. I get along with all kinds of people. I communicate well with
recordkeeping, sales and marketing.
people, and they believe what I'm saying.
5. I have personal and business contacts I can turn to for advice.
13. I like to get people's feedback on how I'm doing, and I don't
2. Stress Management hesitate to ask for help.
Starting and operating a small business is a tremendous personal responsibility.
14. I can manage people, including hiring, firing, and supervising
This section will help you determine if you're physically and psychologically
them.
suited to handle the hard work, the stress, the triumphs, and the disappointments.
15. I am a good judge of people's character and I'm a good listener.
Yes No
6. I have a lot of energy and drive. I can work long hours for
extended periods of time.
7. I rarely get tense in stressful situations, I see mistakes more as
an opportunity than as a failure, and don't worry unduly about
the consequences of my decisions.
8. I'm in good health, and I take care of myself.
5. Perseverance
Small business owners aren't easily discouraged, and they don't give up easily.
When things get tough, they tend to work even harder. This section will help
you assess whether you have the determination and the perseverance to succeed.
Yes No
16. I'm a doer more than a planner. I like to make things happen.
17. I am willing to sometimes put my work before socializing
with family and friends.
18. I'm willing to take a drop in income to launch my new business.
19. I work on things until they're done or solved. I'm not a quitter.
I believe in working hard to get ahead.
20. If I don't have the answer, I go out and get it. I don't try to
avoid difficult problems or situations, I tackle them head on.
6. Innovation
Small business owners are problem solvers and innovators. Tough challenges bring
out their creative best. This section will help you assess your creative potential.
Yes No
21. I'm a problem solver, always looking for new and innovative
ways of doing things. I can usually find creative solutions
when others can't.
22. I'm at my best when facing a challenge that requires me to
use all of my personal resources. I can usually find more than
one solution to a problem.
23. I get bored when I'm not challenged and when I'm doing the
same thing over and over. I like to continually learn new things.
24. Change doesn't frighten me. I look at change as an opportunity
to try new things. I'm not satisfied with doing something a
certain way just because that's the way it has always been done.
7. Lifestyle
Opening a small business is not just a business decision; it's also a lifestyle decision
that will impact on all aspects of your life. This section will help you determine
if you have your personal house in order.
Yes No
25. My family supports my plan to start a small business and
accepts that I will be working long and hard hours. My business
goals are compatible with my family and lifestyle goals.
26. My family understands and accepts that, at least in the short
term, I likely won't be bringing home a regular pay check.
27. I will be able to maintain a personal and family life, as well as
run a business.
28. My family life is stable enough to withstand even a business
failure.
29. I am being realistic about personal and family finances and
living expenses.
30. I have alternate sources of income/savings available for living
expenses until the business is established.
8. Risk Management
Successful entrepreneurs are dreamers with common sense. They are not just
risk takers, and they set realistic business goals. This section will help you
decide if you can successfully balance risks with reality.
Yes No
31. I set realistic goals and work to achieve them and I'm constantly
re-evaluating and adjusting my goals. I'm a realistic thinker
and planner and balance enthusiasm with caution.
32. I seek out and am open to sound advice and assistance. When
I make a mistake, I admit it and make the appropriate changes.
33. I am not a gambler. I will take moderate, acceptable risks to
help my business succeed.
9. Analysing Your Results
The more "yes" answers you gave, the more likely you are suited to the life of
a small business person.

In addition, looking at your answers in each section will help you assess your
entrepreneurial strengths and weaknesses. You can then develop strategies to
take advantage of your strengths and to compensate for your weaknesses.

Total Yes: Total No:

Thank you for filling in the survey.

Kindly post completed questionnaire addressed to:

Malta Enterprise
Entrepreneurship Survey
Enterprise Support & Innovation
Industrial Estate. San Gwann.

Or e-mail to:
entrepreneurship@maltaenteprise.com
Or Fax to: 25423401
Malta Enterprise, Enterprise Centre, Industrial Estate, San Gwann SGN 09, Malta.
Tel: (356) 2542 0000 • Fax: (356) 2542 3401
e-mail: info@maltaenterprise.com • www.maltaenterprise.com