Y Ltd Managing Director Gordon Pace feels that while in the past challenges might have been limited to specific business sectors, this time round, “we’re all facing, more or less, the same situation together.”

“Being dependent on foreign markets, in Malta we’re continuously impacted by whatever affects the supply chain”, Mr Pace states, “be it systems and processes or related costs.”

“Being overwhelmed is only natural because of how much we invest, in time, energy and resources in our business,” he states, adding that the best advice he can give to those business leaders who might feel slightly discouraged at the moment is to “find time to think and be creative.”

“Physically schedule some time, if possible, away from your desk for you to think,” the Managing Director recommends pointing out that “creativity is central to all businesses and will make you different from all the rest.”

In his role at Y Ltd, a company that deals in public relations, marketing and events, Mr Pace is going to have his fair share of challenges come 2023. As the company is expanding, he will be on the lookout for new talent and to him, this “will be the biggest challenge.”

However, he plans to counteract his work-related stress by dedicating more time to himself and promises to “read and gym [his] way into the new year.”

“I have achieved quite good results this year on both fronts,” he states admitting that “the problem with reading is that the more you read, the more you need to know, and hence read more,” which is not a bad habit to develop.

The same goes for physical activity. Mr Pace affirms that in the coming year he plans to reach bigger targets at the gym than in he did in 2022. “Now it’s time to take it up a notch,” he declares.

Moving on from personal goals, the Managing Director acknowledges that “2023 will probably feature the biggest content battle we have ever seen” from a business perspective.

“Recession or not, companies will be doing their utmost to gain the attention of their target audience across all platforms, and success will mainly depend on how engaging their content is,” he affirms.

Speaking of the festive season, Mr Pace is looking forward to seeing “photos and videos of people getting back together for related events” as we get to celebrate the first “normal” Christmas since the pandemic.

From a business perspective he notes how people have discovered “new ways of purchasing gifts and having fun, which will also leave their mark on this festive season.”

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