Malta may have a relatively small economy, but the way in which companies have been developed shows that the island’s business culture can now compete with the best

“If you want to be successful in Malta there are a few things you need to get right,” says Ivan Bartolo, CEO of IT consultancy 6PM. “You have to have very good customer service, ethics, pricing and quality; that is engrained on the island.” In this competitive environment a number of business leaders stand out for the way they have built up their empires.

Some, such as Joseph Gasan, chairman of the Gasan Group, started in the family business at a young age. Gasan went into the business at 16 and took over operations when he was 20.

Since then Gasan Group has diversified into tourism, insurance, property and media.

“The whole economy has to be doing badly for us to suffer as a group,” he says. Nazzareno Vassallo has pursued a similar strategy. Having started in the construction industry, Vassallo Group is now involved in everything from hospitality to running care homes. “I started from nothing and worked my way up, so I strongly believe that if you set your mind on something it’s never impossible,” he says.

Such groups have been able to draw on the unique characteristics of the Maltese people as they have expanded.

“We are creative and we are survivors,” says Louis de Gabriele, a partner at the Camilleri Preziosi law firm. “We survive because we adapt to different circumstances. I think the creativity of a Mediterranean culture plus the rigour of British culture have given us our resilience.”

Now, older business leaders are preparing to hand over the reins to the next generation and Gasan is optimistic. “We’re a clever people, hard working and the level of education is very good. I see a good future.”

Corporate Profile: Vassallo Group

The Vassallo Group has been operating for 65 years, during which it has become a central actor in many areas of the Maltese economy.

From its roots in construction, the Vassallo Group now has an interest in some 40 companies and presence in everything from elderly care to catering, IT, education and landscaping.

“My strategy is to identify a specialist in an area where we don’t operate,” says its chairman Nazzareno Vassallo. “We offer them the opportunity to develop together. If you have an idea, we’ll support it.”