Lawrence Zammit

Looking back at how 2022 has panned out so far, MISCO Founding Partner and Director Lawrence Zammit describes the year as “challenging and fraught”. As the world emerged from COVID restrictions, war at the periphery of Europe’s boarders brought with it new economic realities that necessitated leaders to recalibrate their business plans and forecasts.

And, whilst trying to stay positive and hopeful, Mr Zammit can’t help but envisage “an economic downturn for the next economic cycle”.

So, how does one get through this? The first thing to do, according to Mr Zammit, is to learn from the challenges. The main lesson that 2022 taught him, for example, is that “even the best plans can be disrupted by events totally outside one’s control.” In such cases, it’s up to the individual whether to choose to sink or swim.

Drawing on this thought, Mr Zammit emphasises the importance for business owners across the board (and everyone else really) “to plan ahead for the longer term”. Gone are the days of simply reacting to the day-to-day issues that we encounter. This past year has taught us that, even when we think that things can’t get any worse, they do.

As business leaders “we need to empower our teams to think long-term too”, Mr Zammit adds.

This is the only way in which we can motivate and engage our members of staff “to be more value centred. In turn, this will transpire in the products and services that we offer too.”

“Business-wise, we need to be sober as we move into 2023”, Mr Zammit advises. The current economic situation makes it very difficult to predict what next year could look like. As an Economist, he feels that “the increasing rate of inflation and the consequential increase in interest rates, the disruptions in the supply chain that have not been solved, and the Russian invasion of Ukraine with its risks to global security” are the major threats for the next economic cycle.

However, it’s not all doom and gloom. Mr Zammit also feels that with the right attitude and a good level “of sobriety in our economy,” businesses should still manage to pull through.

Featured Image:

Lawerence Zammit / LinkedIn


Sarah Zammit Cutajar

Taking some time off to recharge is vital for P. Cutajar & Co Ltd CEO Sarah Zammit Cutajar

2 September 2023
by Fabrizio Tabone

In a long career that has stretched to over 30 years at the importing and distribution company, she has constantly ...

‘More than ever it has become important to invest time in yourself’ – Johanna Marshall

24 August 2023
by Fabrizio Tabone

Despite her busy schedule, The Westin Dragonara Resort Director of Events still finds time to relax, unwind, and focus on ...

‘Motivation that comes after a long break is hard to get any other way’ – People & Skin CEO Joanna Delia

14 August 2023
by Fabrizio Tabone

For Joanna Delia, summer is all about travelling and clearing her head to ‘untangle’ issues with some business ideas.

Verdala Terraces backed by one central vision – ‘to withstand the test of time,’ says AX Group’s Denise Xuereb

11 August 2023
by Edward Bonello

She shares that the project is expected to take luxury development to a new level, while respecting the surrounding environment.

Close Bitnami banner