Over 250 small and medium enterprises gathered at the Valletta Waterfront, to attend the first Boost your Business (BYB) event organised by Facebook in Malta.
Forming part of the Facebook European Roadshow 2017, BYB's objective is to inform small and medium enterprises how to best leverage Facebook's 1.9 billion users and up to 600 million Instagram users for their benefit.
BYB was developed to help entrepreneurs uncover the business benefits delivered by Facebook tools and advertising strategies directly and in person.
Economy Minister Cardona noted how social media has changed the very fabric of communication patterns within Malta over the span of a few years, with the country being the leading nation in Europe when it comes to using social networks on a daily basis to disseminate information.
We are seeing new business models emerging, that would not have been at all possible 10 or less years ago
"Maltese SMEs have consistently shown they are flexible and resilient over the years, and it's time they embrace social media in their marketing and business strategy," Dr Cardona said.
Oliver Sewell, Facebook senior manager of UK & Ireland, SMB EMEA, spoke about the opportunities for SMEs on Facebook, which was followed by a discussion about the Maltese EU Presidency and the policies adopted to ensure digitalisation of businesses.
Anton Borg, president of the Malta Chamber of Commerce, Enterprise and Industry said the development of digital marketing in today's economic scenario has irreversibly changed the way we conduct business.
“It is evident that the capability of businesses to completely absorb and ride this revolution, is increasingly determining which companies create or lose value. We are seeing new business models emerging, that would not have been at all possible 10 or less years ago... the digital revolution is here and it is not going anywhere."
The participants in the event also had the opportunity to take part in one-to-one consultations, workshops and training sessions focused on explaining specific topics relating to both Facebook and Instagram.
The event was organised by 3Sixtymeetings Malta in cooperation with the Malta Chamber of Commerce, Enterprise and Industry and the Economy Ministry.