NEWS | Wednesday, 10 October 2007

New FOI policies on start-up firms and associations

The Malta Federation of Industry has announced the conclusion of two policy documents. These policies will enable the FOI to better serve the needs of start-up firms and associations wishing to become members of the Federation.
The FOI already has 32% and 42% of its membership base as micro and small enterprises employing a total of 425 and 2,523 persons respectively, it is constantly seeking to introduce services that would assist micro and small enterprises, particularly those entrepreneurs active in the knowledge-based economy, as well as R&D and innovation activities. \
The Federation said it strongly believes that increasingly, Malta needs to promote innovative new technology based firms and services with high value-added. The formation of innovative enterprises would foster job creation, stimulate economic growth and generate wealth.
In view of this, the FOI is encouraging first-time entrepreneurs who are still in their first three years of operations to contact the Federation to discuss a membership package which can be constructed specifically in view of the limitations faced by their start-up firms. Whether you are a fresh graduate or suitably qualified and experienced person from industry or an individual who is developing, on a private basis, an innovative idea or project, an FOI package can be developed that would be well suited for your needs!
The FOI said it recognises the importance and encourages the formation of sectoral associations and economic clusters. Currently having four associations within its membership base, namely the Federation of Building and Civil Engineering Contractors (FOBC), the Malta Wines & Vines Association, the Malta Lift Association and the Malta Association of Soft Drinks Producers (MSDP), the FOI ensures that these member associations are provided the requested support and at the same time does not infringe in any way with the association’s independence in its opinions, positions and activities. The new FOI policy on Associations is better aligned to today’s thinking on enterprise networking and clustering. Thus, the Federation is encouraging manufacturing and service-based associations, as well as new emerging sector niches to approach the FOI so as to design an arrangement that would enable the sustainability, as well as the strengthening, of the associations to serve their respective members through FOI membership and support.