Entrepreneurship in the creative industry

Earlier this week, The Malta Chamber CEO, Dr Marthese Portelli, took part in a panel discussion during Malta Film Week organised by the Malta Film Commission. The panel discussion focused on the topic of ‘Entrepreneurship in the creative industry’.

In her opening remarks, Dr Portelli emphasised 3 key ingredients for business success; business know-how, contacts and an entrepreneurial mindset. “Effective pre-planning and proper evaluation of critical success factors and related risks must also take centre stage to ensure success,” continued Dr Portelli.

“The Malta Chamber believes that the Cultural & Creative Sector is an Industry in itself. We believe that it has a lot of potential and therefore we must identify the strong points and address the challenges”, said the CEO. “We have the talent! Therefore, our thinking of this industry should go beyond local,” she said.

Dr Portelli continued by outlining the various initiatives and efforts that The Malta Chamber has undertaken to not only support but also aid in scaling up this industry. Through agreements and collaborative actions with entities such as MCAST and MEIA, The Malta Chamber has been able to work on targeted outreach programmes and policy formulation specific to this industry.

Dr Portelli outlined 5 points that require immediate attention in order to enhance the creative industry:

1. FRAGMENTATION – We have too many entities dealing and supporting directly/indirectly with this industry. Let’s consolidate.
2. FUNDING – Different funds across different government schemes exist. We need to consolidate here as well. We need funding support that is exclusively designed to meet the needs of this industry.
3. INFRASTRUCTURE – We need to modernize and invest more in our infrastructure, including our digital infrastructure and that of marketing
4. TRAINING – We need appropriate training to upskill our human resources and to keep abreast with the fast pace with which this industry is moving.
5. INCENTIVES – We need incentives for Maltese, foreign and international business alike. We need to start looking at the end product, at its potential, at its value-added.

Dr Portelli concluded by acknowledging the hard work and dedication of the artists that operate within such a competitive industry. “Let us appreciate our artists, their talent, dedication and continuous work in elevating Malta’s culture and identity, ” said the CEO.