This year has certainly pushed us all to reimagine every aspect of our world and even redefine what success looks like. The entrepreneurial community globally and here in Malt are facing enormous challenges. Many are concerned about losing their staff, their competitive edge or even their organisation.

It is clear the global pandemic has presented difficulties for entrepreneurs, but it has also given them a chance to do what they do best. Local entrepreneurs are rising to the COVID-19 challenge by asking the questions that deliver insight and inspiration.

Many have needed to respond by acting quickly and decisively. They are unstoppable entrepreneurs, determined not just to survive this crisis but to emerge with their business stronger than ever. After all, entrepreneurs are used to navigating uncharted territory. They thrive amid uncertainty.

These attributes and qualities are rare in people, and it is precisely the reason why we decided to launch the EY Entrepreneur of the Year Malta (EOY Malta) award four years ago. Their work certainly deserved special recognition in normal times and possibly even more now as they navigate their businesses in a time of crisis.

Entrepreneurs exist all over the world, but you might be surprised to learn about the impressive number our small island has produced and the almost immeasurable impact they have had, before the crisis and even more so during. Moreover, being an entrepreneur is challenging enough as it is, adding Malta’s limited market size does not make things any easier.

We should turn to Malta’s unstoppable entrepreneurs for inspiration in reframing our future

Nevertheless, the rise of the digital economy has brought the world’s markets to our doorstep and truly driven entrepreneurs always find a way to accomplish their seemingly impossible goals.

Entrepreneurs make a difference. They have great ideas and the drive to make them a reality for all of us. They use new ways of thinking to effect positive social change. Their journeys may be vastly different, but they have one thing in common: long-term vision that does not allow them to be so easily distracted by short-term pressures.

With so many local entrepreneurial stories yet to be shared and celebrated on a national level, the award itself is the only local award with a truly global dimension.

Winners from over 50 countries compete for the prize of EY World Entrepreneur of the Year (WEOY). This event, normally held in the grand palaces of Monaco, was held virtually for the first time in 2020 due to COVID-19. While the WEOY is scheduled for June 2021, there is hope on the horizon that a return to Monaco could be feasible to celebrate the world’s best, but only time will tell.

While Monaco is a spectacular event, its culmination is not the only reason we set up the award. It was launched to promote entrepreneurship across the Maltese islands and to empower local entrepreneurs to develop their businesses locally and around the world. It also pre­sents them with an opportunity to get acquainted with other exciting disrupters, funnelling additional innovation.

While all three former EOY Malta winners certainly need no introduction, their calibre gives an indication of the level of entrepreneurship this island produces. Alfred Pisani of Corinthia Group and Angelo Xuereb of AX Holdings Ltd are both widely recognised for their success in the hospitality and construction sectors. The current holder of the award is David Darmanin from Hotjar, an impressive tech company that began with a remote-working model over six years ago.

The award programme is open for ambitious young entrepreneurs too. The EY Rising Star Award, which in the past was awarded to David Vella of Altaro Software, Shane Hunter of AquaBioTech Group and Ben Remfrey of Praedium Consulting Malta Ltd, will be presented to a contender running a high-growth business that is generating excitement in the market.

Now, more than ever, we should turn to Malta’s unstoppable entrepreneurs for inspiration in reframing our future. Their winning spirit is something we should all aspire to within all aspects of our lives. We can channel it to stand out, take risks and welcome new viewpoints that open our eyes to hidden opportunities in our own worlds or markets. It is also worth remembering they are human – just like the rest of us.

For more information and to submit a nomination, visit https://www.ey.com/en_mt/ey-entrepreneur-of-the-year-malta-2021. The awards are support­ed by the Malta Chamber of Commerce, Enterprise and Industry, the Chamber of SMEs and Melita Ltd.

Kevin Mallia, EY Malta’s consulting lead partner

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