Businesses and jobs in Malta and internationally are navigating an economic downturn due to COVID-19. Many organisations were forced to close temporarily or permanently to abide by health and governmental regulations in attempt to minimise the spread of the virus. Sudden closure and instability came with financial concerns for business owners, including rental, utility, and human resources costs. Business owners and thinkers are attempting to revive the economy for a post COVID-19 environment through creative means of digitalisation and/or effective business models and resources.
Implementing digitalisation in Malta
An example toward the implementation of digitalisation in Malta was supported by a webinar hosted by the Gozo Business Chamber, in collaboration with financial and technological institutions; Bank of Valletta and Microsoft Malta. The aim of this webinar was to assist in providing resources to employers and employees including flexible working arrangements and quicker payment schemes. The implementation of such schemes supports business models to adapt culturally and will be useful long-term measures.
Additionally, one of the main contributions from organisations in Malta are effective communications strategies which rely on useful resources and information on navigating work-life during COVID-19. Such strategies include the following:
• An IT and cybersecurity checklist
• Further IT support for an organisation’s IT team via means of constant communication between colleagues
• The effects of digitalisation for the future of business alongside economic plans and strategies
• Financial schemes to support businesses during COVID-19
• Up-to-date government announcements (in Malta)
• COVID-19 related webcasts
It is clear from the above that the provision of resources from multiple industries collaborate to support employers and employees with diverse backgrounds. Organisations and business-owners alike contribute in their own ways to the economy, and such contributions should be seen together in order to effectively strive toward a post COVID-19 business environment.
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