This morning, a conference on The Challenges of Managing Business Growth and Business Succession in the Principality was held at Monaco’s Vocational and Catering School. Organised by the Business Development Agency in partnership with CFM Indosuez, it was attended by Jean Castellini, Minister of Finance and Economy, Serges Pierryves, Director of Business Development, and Gilles Martinengo, CEO of CFM Indosuez Wealth Management.
The key objective of the event was to promote, through sharing experience, the retention of business in Monaco, from industry flagships with unique expertise to startups that have the potential to develop in the country. In 2017, the Business Development Agency registered 1,367 new businesses, more than 35% of those approved between 2013 and 2017. These revealing figures are an important indicator of a dynamic and buoyant economy.
Aimed at local business leaders, who attended in large numbers, the morning conference was divided into two parts. The first, given over to speeches, took the form of three roundtables which covered, respectively, corporate mergers and acquisitions, taking over family businesses, and financing business development and growth in the Principality. The second part was conducted in a more collaborative format, giving business leaders an opportunity to air their views freely.
Based on their stories and the knowledge they shared, a number of topics were addressed, including the existing legal tools in the Principality, an examination of specific and adapted legal forms, and the procedures for introducing financing tools.
“The key to success lies in horizontal management. Continue to engage in these discussions and dialogues, for this is what will nurture and enrich us all, enabling us to grow,” Jean Castellini told the audience.
This was the third such event, with previous discussions having been held in 2015 and 2016.
Originally published at Government Portal