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SPECIAL FEATURE: MBEOTYA 18<br />
The Power of Purpose<br />
Malta Business Review<br />
Interview with Dr. Paul Magro, Founder & Managing Director - Risk Cap International Ltd, who was recently voted by independent judges<br />
as Malta’s Best Young Entrepreneur of the Year and also Malta’s Best Consulting, Advisory, Audit & Tax Entrepreneur of the Year 2018<br />
during the MBEOTY awards.<br />
Dr. Paul Magro, Founder & Managing Director - Risk Cap International Ltd, receiving Malta's Best Consulting, Advisory,<br />
Audit & Tax Entrepreneur of the Year Award by Martin Vella MD <strong>MBR</strong> Publications Ltd<br />
<strong>MBR</strong>: What do you think you have contributed<br />
in the risk management and compliance<br />
services to the financial services industry?<br />
PM: RiskCap's has contributed to the financial<br />
services industry with risk management and<br />
compliance services on the pediments of<br />
independence, commitment and expertise.<br />
Our risk management services are based on<br />
quality risk reporting and detailed risk analytics.<br />
Whereas our compliance services are based on<br />
a team of professionals with compliance and<br />
legal backgrounds with expertise in the financial<br />
services industry offering our clients the<br />
compliance support required to ensuring that<br />
their businesses operate in line with regulations.<br />
<strong>MBR</strong>: What’s your three top success tips for<br />
young entrepreneurs?<br />
PM: These days, almost everyone has the dream<br />
of starting their own company. Three success tips<br />
that I would give young entrepreneurs would be:<br />
(i) Prepare to make sacrifices - There’s no such<br />
thing as an overnight success. You will need to<br />
study your market, get your finances in order<br />
and tune up your business knowledge. Becoming<br />
a successful entrepreneur requi<strong>res</strong> an intense<br />
level of dedication and this means sacrificing<br />
both time and money to make it happen. In<br />
the startup phase there will be more bad days<br />
than good. This will test your <strong>res</strong>ilience to make<br />
sacrifices;<br />
(ii) Be an active part of the Entrepreneurial<br />
Community - A great way to learn and establish<br />
yourself is to be part of different entrepreneurial<br />
groups. Attending panel discussions,<br />
networking events and immersing yourself in<br />
the entrepreneurial community is extremely<br />
important. The more you raise your visibility, the<br />
easier it will be for people to associate you with<br />
what you are working on.<br />
(iii) Build a Great Team - An essential part of<br />
establishing yourself is having a team and a set<br />
of advisors including a mentor who can work<br />
with you to build a great startup.<br />
<strong>MBR</strong>: Can you tell us about your feelings<br />
when you learnt you won the Best Young<br />
Entrepreneur of the Year and also the Best<br />
Consulting, Advisory, Audit & Tax Entrepreneur<br />
of the Year during Malta’s Best Entrepreneur of<br />
the Year Awards 2018?<br />
PM: “Your work is going to fill a large part of your<br />
life, and the only way to be truly satisfied is to do<br />
what you believe is great work. And the only way<br />
to do great work is to love what you do.”<br />
I love what I do and believe in what RiskCap can<br />
achieve. What my team and I have achieved over<br />
the past 5 years has been remarkable. It was an<br />
amazing feeling to not only be nominated but to<br />
win these 2 awards in the p<strong>res</strong>ence of family and<br />
colleagues to celebrate our success.<br />
"Becoming a successful<br />
entrepreneur requi<strong>res</strong><br />
an intense level of<br />
dedication<br />
and this means<br />
sacrificing both time<br />
and money to make it<br />
happen.<br />
<strong>MBR</strong>: How significant are such awards, what<br />
is your feedback on the event and where does<br />
this lead you now?<br />
PM: These awards are significant. The process<br />
can be tedious and time-consuming but in the<br />
being nominated and especially winning an<br />
award, generally outweigh the time and effort.<br />
The benefits of the awards including building<br />
the company’s brand, building credibility,<br />
expanding networks, celebrating the staff and<br />
attract talent. The feedback I received fol<strong>low</strong>ing<br />
the event was overall very positive within the<br />
business space clients (new and old), partners,<br />
were in touch to congratulate us and strengthen<br />
relations. Family and friends were also very<br />
proud of the achievements. These awards have<br />
given me an injection of energy to continue<br />
building RiskCap’s brand.<br />
<strong>MBR</strong>: As a die-hard entrepreneur at heart,<br />
how do you help people define what true<br />
entrepreneurship is and what it takes to be a<br />
leader, and helps people dispel the myths of<br />
businesses?<br />
PM: These awards are significant. The process<br />
can be tedious and time-consuming but in the<br />
end being nominated and especially winning an<br />
award, generally outweigh the time and effort.<br />
The benefits of the awards including building<br />
the company’s brand, building credibility,<br />
expanding networks, celebrating the staff and<br />
attract talent. The feedback I received fol<strong>low</strong>ing<br />
the event was overall very positive within the<br />
business space clients (new and old), partners,<br />
were in touch to congratulate us and strengthen<br />
relations. Family and friends were also very<br />
proud of the achievements. These awards have<br />
given me an injection of energy to continue<br />
building RiskCap’s brand. <strong>MBR</strong><br />
All rights <strong>res</strong>erved - Copyright 2018<br />
www.maltabusinessreview.net<br />
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