It requires resilience to take the reins of a family business in existence since the 1920s and embrace the responsibility of leading it into a series of achievements. Mr Farrugia did precisely this when he became managing director of the Farsons Group in 1980. Skip ahead 40 years, and he’s now chairman with major successes behind him, including modernisations of the brewery, the founding of food-franchise operator, Food Chain Ltd, and the establishment of a drinks packaging plant and centralised logistics centre.

Mr Farrugia’s roles are diverse; currently, he is chairman of Farsons Group and Trident Estates PLC, as well as Multigas, Liquigas and Farrugia investments.

“I’ve been an entrepreneur for 45 years, but entrepreneurship has changed drastically in that time,” remarks Mr Farrugia, as he reflects on the local business landscape. “In the 70s and 80s, ‘profit’ was a dirty word because our educational system didn’t promote entrepreneurship as a means of doing good in society. But, I’ve always believed in and fought for the benefits of entrepreneurship.

“In 2020 and beyond, we must remain competitive in our sectors, which will be challenging without good governance. In the 70s, the bankruptcy of two local banks gave private enterprise a bad name, triggering a reputation that was difficult to shift. Without good governance we risk losing our standing in the world – history must not repeat itself.”

Over the years, Farsons has steadily increased its exports to new markets, and Mr Farrugia is confident that its robust growth will continue. “The food and beverage sector has benefitted from the increase in tourism and the local population. However, we face risk factors such as the supply of qualified labour and increases in salaries and wages. Across sectors, these challenges will soon render some enterprises uncompetitive. For these reasons, I see Malta’s economic growth slowing down,” Mr Farrugia asserts, explaining that Farsons is working to secure its future by growing as an international entity.

Looking ahead to 2020, Mr Farrugia concludes: “I want to see Malta mature as a well-run and respected EU member state. As is often pointed out, Malta punches above its weight, but we must ensure that we deliver on this promise.”

This article initially appeared in Malta CEOs 2020.