Issue link: https://maltatoday.uberflip.com/i/1187474
18 maltatoday | SUNDAY • 24 NOVEMBER 2019 COMMERCIAL IS your Business Bankable? This was a question asked by Victoria Azzopardi, Analyst at Bank of Valletta's EU & Insti- tutional Affairs arm, during the 'Wom- en Mean Business' event organised by the Ministry for the Economy, Invest- ment and Small Businesses in conjunc- tion with the Foundation for Women Entrepreneurs, the Malta Association of Women in Business, the Business & Professional Women (Malta) and the National Council of Women. Bankable is financial jargon that in- dicates that a business is sufficiently healthy to receive the financial sup- port of banks and is a basic indicator of a company's prospective success. "A clear and convincing business plan proves that you have the knowl- edge, work ethic and leadership skills you need to make your start-up suc- cessful, with focus on financial esti- mates, including well-researched doc- umentation how you arrived to these estimates," Azzopardi said. "The selection of the industry that you are venturing in, preferably one that does not depend on fluctuating resources, and the willingness to in- vest in your business yourself, thus confirming your commitment to your venture are both positive markers when attracting Banking Finance." EU Funded Risk Sharing Instruments such as the BOV JAMIE is key at ad- dressing market barriers local SMEs face when accessing bank finance. "Prior to approaching a Bank, en- trepreneurs need to ensure that they are sufficiently prepared with Market analysis, marketing plans, a sales and promotion strategy, and specific long- term financial needs," Azzopardi said. "It is not possible to eliminate all risks associated with starting a business however, banks have long term expo- sure to a very wide array of businesses and can provide invaluable insight and advice on the various business sectors and current market conditions that can assist in the success of an entre- preneur's venture. Having a good in- sight coupled with detailed market research and sound planning will pro- vide the necessary factors to improve the chances of success." All loans are subject to normal bank lending criteria and final approval from the bank.' Is your business bankable? IN a continuous bid to reduce obstacles for people to become more engaged with Science, state schools visiting Esplora, as of January 2020, will be benefiting from free transport. This initiative is the fruit of the continual collaborative work between Evarist Bartolo, Minister for Education and Employment conjointly with Francis Fabri, Permanent Sec- retary within the Ministry for Education and Employment, (MEDE) and Jeffrey Pullicino Orlando, Executive Chairman of the Malta Council for Sci- ence and Technology. Science, Technology, En- gineering and Mathematics (STEM) subjects will be made more accessible thanks to this action. This falls perfectly in line with this year's budget show- casing the commitment of this Government to have more stu- dents choose STEM subjects. A visit to Esplora Interactive Science Centre consists of a curriculum-related education- al activity as per Esplora's Edu- cation Programme and access to the exhibition areas. The Esplora Education Pro- gramme offers a wide variety of activities for all ages, from early years to secondary school students and beyond. The full list of activities on of- fer are listed in the Esplora Ed- ucation Programme and can be accessed through this link: http://esplora.org.mt/wp-con- tent/uploads/2019/09/Educa- tional-Programme-2019-2020. pdf Since its opening Esplora has been a catalyst for change, us- ing creative methods such as facilitation and inquiry based learning, encouraging visitors to Explore, Think and Imag- ine. The end results are people who take thoughtful risks, in- formed decisions, engage in hands-on, body-on, mind-on and experiential learning, per- sist in problem-solving and embrace collaboration. These all contribute to the development and enhance- ment of 21st century skills. Through a recent survey carried out by MISCO Inter- national, Esplora has already seen a 14% higher interest in science among the general public compared to a 10% in- crease target which was com- mitted in order to be award- ed funds from the European Regional Development Fund 2007 – 2013 which made it possible for Esplora to be de- veloped into an Interactive Science Centre. This scheme will facilitate an increased number of visits to Esplora, lessen the financial burden on families and ulti- mately contribute to the con- tinual endeavour in the ever- increasing love for science. Government enables free transport for state schools visiting Esplora