Thrive - Edition 6

JUL ‘25

SI X T H E DI T IO N

SUMMER EDITION: REST, RESET & RETURN

ALSO INSIDE:

GIBRALTAR’S AI EXPERTS TACKLING OFFICE GOSSIP OWEN SMITH ON BREXIT AND BUDGET

JUL 2025 SIXTH EDITION 2

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

CONTENTS MAIN FEATURES SOCIALS

JUL 2025

SIXTH EDITION

ALSO INSIDE

COVID Five Years On Brexit Agreement Feature Is Life All Busywork?

STRATEGIC PARTNERS

EDITOR

HATE OFFICE GOSSIP?

Thrive is Edited by David Revagliatte. David is a media communications specialist, business writer and podcaster. editor@gfsb.gi @dgrevagliatte

Psychotherapist Glenn Rolfsen breaks it down.

P.32-33

CONTRIBUTORS

PHOTOS FROM GFSB EVENTS P.06

BREXIT AGREEMENT

GFSB TEAM Kim Chang Marianne Ballester

GFSB Chair, Owen Smith on what it all means for business.

P.08-12

DESIGN Piranha Designs

PANDEMIC LESSONS

PRINTING

What we learnt from COVID 5 years on P.28-30

ABOUT THE GFSB

The Gibraltar Federation of Small Businesses is a non-profit organisation that exists to help small businesses and entrepreneurs to start, grow and thrive.

THE MAGAZINE FOR THE GFSB

DAVID REVAGLIATTE GABRIELLA KIRKBY KATIE BULLER JOHN W. HAYES RAJU PURSWANI

Gain access to this dynamic network and grow your business from as little as £75 per year.

Contact: gfsb@gfsb.gi

Printed in Gibraltar by EASI PRINT

ADVERTISE IN THRIVE

Reach new clients - advertise in the print and digital editions.

Small prices, big impact.

Contact: admin@gfsb.gi

www.gfsb.gi

3

JUL 2025 SIXTH EDITION

Dear Members, As summer arrives, we’re pleased to bring you this latest edition of Thrive and to share a few reflections during what is often a rare moment of pause. With schools on break and business activity easing slightly, it’s a natural time to take stock of how things are going and to think about what might come next. For many of you, that reflection will include your business—what’s working, what needs improving, and where change might be needed.

This year, those questions feel especially timely. With the announcement of the EU political agreement, Gibraltar stands on the edge of significant economic change. It’s positive that we have a deal. The alternative would have brought far greater uncertainty and risk. But this new chapter comes with serious adjustments, and we’ll all need to consider how best to navigate what’s ahead.

The GFSB Board is focused on helping members prepare. We believe businesses will need clarity, support, and a seat at the table. We’ve already called on the government to share the full details of how the transaction tax will work in practice, and to offer targeted support for those sectors most affected by the changes.

We also see opportunity on the horizon. Gibraltar’s unique position - offering UK citizens Schengen access through local residency - could become a powerful incentive for talent, investment and tourism. But we must move quickly to turn that into a reality. That means ensuring the right systems, infrastructure, and planning are in place.

Behind the scenes, we’re using the quieter summer period to develop new programmes.

We’re working on a refreshed education and training offer for autumn, alongside a series of practical workshops to help our members prepare for change. These will begin in September, and we look forward to welcoming you to one of them.

In the meantime, we hope you get the chance to rest, recharge and reflect on your own goals for the second half of the year. As always, thank you for being part of the GFSB. We’re proud to represent a membership that remains engaged, forwardlooking, and ready to meet change with clarity and purpose.

Wishing you a peaceful and productive summer.

Kind regards, Owen Smith Chairperson

Owen Smith CHAIRPERSON

04

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025 SIXTH EDITION

Hello Thrivers!

Welcome to the sixth edition of Thrive magazine.

There’s a lot going on in the world right now, and Gibraltar’s business community is feeling the effects.

That’s why we kick off this edition with a timely piece from GFSB Chairperson, Owen Smith, on the recently announced Agreement and what it might mean for local businesses. We’ve been covering negotiations for years and will continue to keep you updated on the details as they come through, because informed decisions make a real difference.

David Revagliatte EDITOR

Katie Buller returns with a nononsense guide to bookkeeping.

Whether you’re new to running a business or just need a clearer system, her tips will help you take control of the numbers. We also look at something every workplace deals with but few talk about: gossip. You’ll find insights on how it spreads and what it does to morale.

pandemic, we take a moment to reflect on the impact Covid has had on our working lives, and what lessons we’ve carried forward.

As always, a huge thank you to our contributors for sharing their time and expertise, and to our advertisers for continuing to support this magazine. And of course, thanks to Yewhung and Julian at Piranha Designs for making each edition look better each time.

We’re already working on edition seven. In the meantime, you can pick up your free copy at 122 Irish Town or read it online.

Thanks for reading.

David Revagliatte Editor editor@gfsb.gi

John W. Hayes delivers one of my favourite articles this edition, asking us to rethink busywork and get clearer about where our time really goes. And as we mark four years since the start of the

@gfsb_gib

facebook.com/GFSBgib

THE MAGAZINE FOR THE GFSB

@GFSBGib

www.gfsb.gi To advertise with us contact admin@gfsb.gi

linkedin.com/company/gfsb-gib

05

JUL 2025 SIXTH EDITION

GFSB Annual Dinner

Event Sponsors: Sponsors: Bassadone Motors, World Trade Center, EY and Saccone & Speed

MINISTER FOR BUSINESS, GEMMA ARIAS-VASQUEZ - GFSB CHAIRPERSON, OWEN SMITH

AMY WILLIAMS - WINTER OLYMPIC GOLD MEDALLIST

Brexit Agreement Town Hall Sponsored by:

MINISTER FOR BUSINESS, GEMMA ARIAS-VASQUEZ

Wellness Event

MINISTER FOR BUSINESS, GEMMA ARIAS-VASQUEZ - GFSB CHAIRPERSON, OWEN SMITH

Neurodiversity at Work Sponsored by:

AMY WILLIAMS - WINTER OLYMPIC GOLD MEDALLIST

06

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025 SIXTH EDITION

Business GFSB WIE Innovation Awards June Social Winners OTWO Event Sponsors: ISOLAS and Turicum Bank Sponsored by:

GFSB WIE June Social Event Sponsors:

THE MAGAZINE FOR THE GFSB

www.gfsb.gi To advertise with us contact admin@gfsb.gi

07

JUL 2025 SIXTH EDITION

Brexit and Budget

OWEN SMITH

A PIVOTAL MOMENT The announcement in recent weeks, that Gibraltar has secured for itself a Brexit agreement, has been greeted with widespread relief in the business sector, and even cautious optimism.

The agreement sets the framework for Gibraltar’s future relationship with Europe, gives Gibraltar a direction of travel, and ends years of uncertainty about whether or not Gibraltar would reach an agreement at all.

08

The GFSB welcomes the fact that an agreement has been reached. An agreement is far better than a nonnegotiated outcome. But whilst there are opportunities ahead, there are challenges aplenty as well. The agreement brings with it new pressures, costs, and competition. For many of our members, the agreement, and with it the removal of the frontier fence, represents a paradigm shift in Gibraltar’s business landscape.

Gibraltar, now more than ever, needs a clear strategic vision to navigate the challenges and exploit the opportunities that come with the agreement. Alongside that long term planning, there are immediate concerns, unanswered questions, and a knowledge gap as to how the deal will work in practice. Formal, detailed and written guidance needs to be provided to business, as soon as possible, so businesses can begin to plan.

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025

Understanding the Transaction Tax One of the most immediate and high-profile changes is the introduction of a transaction tax. This will replace existing import duties in many cases and could lead to higher costs for some. In certain sectors, the new tax may reach as much as 17 percent above the current import duty. Whilst some businesses may benefit from seamless trade with the EU, others will have new costs to absorb alongside greater competition, without any immediate benefit to their business.

At the time of writing, there is still no comprehensive written guidance about how the tax will be applied in practice. We do not know how, where or when the tax will be calculated and collected, how importations to Gibraltar will be verified, and whether or not there will be some form of commercial border for Gibraltar, where it will be located and how it will function. These are not small details. They affect pricing, logistics and day-today operations. The GFSB believes that the principles of the system must already be understood and should now be shared with businesses. Clarity allows for planning. Without it, the risk of disruption increases.

Improved Frontier Fluidity Whilst improved frontier fluidity will hugely improve quality of life on the Rock, it will likely bring with it increased cross border competition, not just in retail but in F&B and wholesale as well. Customers popping out for dinner will no longer have to contend with the risk of lengthy in/out border queues, making the hinterland a more realistic option. Gibraltar based vendors may start to purchase goods directly from sources other than Gibraltar’s established wholesalers. Whilst IVA refunds for cross frontier purchases will end, narrowing the price differential for Gibraltar based retailers, some of those gains will be offset by the new Transaction Tax that retailers now must pay. With the border gone, how long will it be before Gibraltar welcomes its first Amazon locker? Gibraltar has long avoided the worst effects of the online v high street competition that has negatively impacted many European retailers.

THE MAGAZINE FOR THE GFSB

An expected increase in visitors, and the ability to directly and easily retail directly into the EU will be avenues for exploitation. These opportunities may require businesses to pivot away from their existing model. How do we best exploit an expected increase in visitors for the benefit of all sectors – not just by expanding and improving the tourism product, but also by improving transport planning and infrastructure, ports of entry and overall visitor experience? With an expected boom in tourism is this not the right time to develop some parts of that industry that have not evolved for decades, and that restrict the growth of the sector overall?

SIXTH EDITION

THE IMMEDIATE FUTURE

Tariff and Transactions Tax Gibraltar’s retail and F&B sector has traditionally maintained a UK flavour, distinguishing our high street from those of our immediate neighbours.

Businesses will need to understand whether or not goods they import from the UK are subject to any additional tariffs. Goods of UK origin should be exempt under the EU-UK trade and cooperation agreements. But just because goods are sourced in the UK will not necessarily make them UK origin for tariff purposes. Members will need to understand the rules of origin, and consider their stock inventory, what is exempt and what is not.

Direct importation of foods stuffs from the UK to Gibraltar will also likely come to an end, with the expected improved fluidity for UK food products delivered as part of the UK-EU re-set still uncertain and someway off.

www.gfsb.gi To advertise with us contact admin@gfsb.gi

09

JUL 2025 SIXTH EDITION

Support Must Match the Scale and Nature of Change If businesses, particularly those at the sharp end of the Brexit wedge in retail, wholesale and F&B, are expected to adapt to new costs, they must be supported to do so. Particularly as it is generally understood that one of the motivating factors for a ensuring a fluid border was to benefit some of Gibraltar’s largest employers in the gaming and financial services sectors who will be unaffected by the Transaction Tax. Whilst the benefits of ensuring that Gibraltar remains a good place for those types of companies to do business are clear and obvious, there is a strong case that they should also share in the challenges that the Transaction Tax brings, even if their services are exempt from payment of it. A fund for those affected business sectors should be designed with this in mind. Funding is particularly important for smaller businesses and employers, who do not have the flexibility to absorb sudden cost increases.

Grant schemes, training programs, transitional relief and practical detailed written guidance would all be of huge assistance. What matters is that the measures are easily accessible to those businesses affected, proportionate to the immediate needs of those businesses, and designed to help Gibraltar reach its broader and long term strategic goals for business. For example, relief from a tariff + transaction tax double whammy might assist businesses facing a particularly harsh cost increase, whilst assisting Gibraltar in reaching a broader strategic goal of maintaining a UK flavour in its retail and F&B product offering.

10

The cost of storage in Gibraltar is very high when compared to comparable facilities across the border, one would expect to see many businesses look to access cheaper facilities across the border. Does Gibraltar want to retain a storage, light industrial / manufacture sector? If so do measures have to be put in place to encourage those sectors not to decamp en-masse for cheaper digs elsewhere? We have had very substantial provision of affordable housing over the last few decades but comparatively little in the way of provision for these sectors, with areas of Gibraltar traditionally reserved for these activities increasingly turned over for ever more residential developments.

What incentives can be put in place to ensure that Gibraltar remains home for businesses in these sectors and that they remain competitive.

One Playing Field for All The excellent work done of the Office of Fair Trading must continue.

Now more than ever Gibraltar’s business licensing regime must be applied and enforced equally and fairly on all those carrying out business in Gibraltar. As important - Gibraltar businesses should have the ability to trade outside of Gibraltar on the same terms, that businesses from outside of Gibraltar are allowed to trade here. Whether that be in wholesaling, retail, transport and delivery, or installation services.

The obligation to engage with appropriately licensed businesses should be placed upon Gibraltar based consumers, as well as upon businesses.

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025

The agreement with the EU opens the door for UK citizens who gain Gibraltar residency to access the Schengen area. This creates a unique advantage for Gibraltar as a jurisdiction at a time when remote work, digital entrepreneurship and lifestyle migration are all growing.

The ability to live and work in Gibraltar while travelling freely across Europe is a valuable offer, however as UK-EU relations improve, this advantage may not last forever. Gibraltar should act now. A quick, clear, simple and well-managed residency framework where new arrivals are net contributors rather than creating additional and unsustainable pressure on healthcare, education and social services could stimulate demand in housing and commercial property offsetting the negatives that a fluid frontier cause in these sectors.

Combined with a slick and easy business start-up process, accessible and agile regulation, and the Gibraltar Authorisation Regime, Gibraltar becomes a hugely attractive base for business.

The Chief Minister announced that a commission will be formed to review Gibraltar’s residency system.

The GFSB strongly welcomes this, and urges the Commission to work quickly to establish a speedy and equitable route to Gibraltar residency. This new Gibraltar offer is an offering that Gibraltarian entrepreneurs are hungry to get out there and start selling. The GFSB would welcome the opportunity to support this work.

Budget - Rising Costs and Pressure on Employers The 2025 Gibraltar Budget marked a significant moment. It is the first since the political agreement with the EU was announced. Alongside the tax changes, businesses continue to face additional pressure from rising employment costs. Over the past two years, minimum wage levels and social insurance costs have increased more significantly than at any time in recent memory. Corporation tax has also increased. While improving pay for workers is an important goal, it must be balanced with the ability of small businesses to

THE MAGAZINE FOR THE GFSB

remain viable. Many of those on minimum wage do not live in Gibraltar and already earn more than they would across the border. Increasing rates without careful consideration of wage inflation and competitiveness risks doing harm to local employers, particularly in the retail, hospitality and tourism sectors where margins are already tight.

SIXTH EDITION

Seizing the Residency Opportunity

Social insurance also remains an area of concern.

While Gibraltar’s system is relatively low-cost on average compared to other jurisdictions, the charges at the very bottom of the scale are disproportionately high. For part-time, casual and zero-hours staff, employers face a significant fixed cost regardless of hours worked. It simply doesn’t make financial sense to employ workers at this level. This has made it more difficult to offer casual or flexible work legally, particularly in sectors such as tourism, retail and F&B where seasonal or occasional employment to meet peak demands is common. We urge government to work with the GFSB and other stakeholders to explore fairer ways to support casual employment without putting employees at risk, disincentivizing compliance or overburdening small employers. This will be particularly important to allow Gibraltar to fully exploit the expected tourism boom, that the Brexit agreement should bring.

If there is a budget surplus, the GFSB would advocate that, in this time of huge change for business, it should be spent on the business sector and with purpose. That might mean helping businesses prepare for the Transaction Tax, working with businesses to develop a coherent and cross pollenating strategic vision for Gibraltar, supporting businesses who are dealt bigger blows or easing employment costs. A budget that contained within it incentives for sectors identified for growth would

www.gfsb.gi To advertise with us contact admin@gfsb.gi

11

JUL 2025 SIXTH EDITION

be most welcome. Such incentives should align with a broader, long term, strategic vision for business growth.

Planning for Prosperity - A Strategic Vision for Gibraltar Business As Gibraltar marches towards a bright future ushered in by the Brexit agreement we should take stock of where our business landscape is today, and where we want it to be in 5, 10 and 15 years time. We should ask ourselves what our goals are over this time period. What strategies do we need to implement to realise those goals? What is our vision for the Gibraltar retail and F&B environment?

How can we work to ensure our tourist product compliments this vision and benefits other sectors as well. What opportunities will growth in these sectors create and how can we ensure that Gibraltar based businesses are best placed to exploit them, rather than losing out to cross border competition.

Gibraltar is a place where doing business can be easy, efficient and future-focused. Much has been done in recent years to reduce the administrative burden on business but there is always room for improvement. That means reviewing outdated

manual systems, investing in enabling infrastructure, and focusing government resources on areas that deliver real impact. A slick residency product, combined with a quick to market licensing regime, incentives for sectors earmarked for growth, assistance for those sectors that we wish to maintain for strategic reasons but find themselves at the sharp end of the Brexit wedge, and a flexible employment market, will mean Gibraltar can continue to be an excellent place to run a successful business. These features will also make Gibraltar an attractive place to do business, attracting new entrepreneurs and investors to our shores to work, whilst accessing our British Mediterranean lifestyle and unique new residency perks.

This is a pivotal moment. All Gibraltar businesses and Government should be working towards a coherent single vision as to what the Gibraltar offer is, guided by a strategic vision for Gibraltar business.

With the right approach, Gibraltar can turn the challenges of the next few years into lasting opportunity and growth. Let’s make the best of Brexit.

The BD Breakthrough Blueprint

Transform your legal career! amanda.simmons@legalbalance.co.uk to get your 30% off code www.legalbalanceinstitute.com

12

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

GFSB EVENTS

DATES FOR YOUR DIARY

JUL 2025

JUL - DEC

24th July (6:00 PM - 8:00 PM) Netball World Youth Cup Gibraltar 2025 Business Briefing

18th September (7:30 PM - 11:00 PM) GFSB Summer Party

4th December (6:00 PM - 9:00 PM) GFSB Christmas Party

WE RECOMMEND YOU CHECK THE GFSB’S EVENTS PAGES FOR THE LATEST UPDATES. SCAN THE QR CODE OR HEAD TO WWW.GFSB.GI/EVENTS

Save the dates above and keep an eye out for more to come.

GFSB events are designed to help its members thrive. From business briefings to social meetups and seasonal celebrations, the calendar ahead offers something for everyone.

The dates below were provided at the time of printing and may change – please check the GFSB website for details, updates, and booking instructions for all upcoming events.

THE MAGAZINE FOR THE GFSB

www.gfsb.gi To advertise with us contact admin@gfsb.gi

13

JUL 2025 SIXTH EDITION

The Guide to Bookkeeping KATIE BULLER 9 £48.9 0 .0 5 4 2 £ 9 £10.9 0 £70.5 9 £34.9 0 .0 £325 9 .9 £110 9 .9 9 £ .5 4 £ 0

R

unning a small business is an exciting journey, but without proper bookkeeping, it can quickly become overwhelming. Imagine trying to make critical business decisions without knowing how much money is in your account or being caught off guard by a hefty tax bill because records weren’t kept up to date. Good bookkeeping isn’t just about staying compliant; it’s about gaining control over your business, planning for growth, and avoiding costly mistakes.

0 £60.5 9 .9 0 2 £ £18.50 0 £420.2 0 £82.2 5 £10.9 £3.45 0 £28.8 9 .9 £147

It’s so easy to let bookkeeping slide when you’re busy juggling all of the responsibilities in your small business, but staying on top of it doesn’t have to be a burden. By building a few simple habits and using the right tools, you can keep your finances in order, ensuring compliance with Gibraltar’s financial regulations while setting your business up for success.

14

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025

1.

KEEPING TRACK OF INCOME AND EXPENSES

3.

Every sale, invoice, and business expense should be recorded accurately, and whether you use spreadsheets or bookkeeping software, consistency is key. Organising expenses like rent, utilities, and payroll simplifies tax filing and ensures compliance with Gibraltar’s regulations. Most importantly, be sure to separate your business and personal finances. A dedicated business bank account makes bookkeeping and tax filing much easier.

2.

KEY BOOKKEEPING TERMS EVERY If bookkeeping jargon feels like a foreign language to you, you’re not alone. Here are a few key terms that every business owner should understand: Invoice: A document sent to a customer requesting payment for goods or services.

Bill: A document received from a supplier requesting payment for goods or services purchased.

Purchase Order: A formal request sent to a supplier to buy specific goods or services.

Receipt: Proof transaction.

of

payment

received

after

a

RECONCILING BANK STATEMENTS

Reconciling your bank statements is the process of comparing your business’s financial records with your bank transactions to ensure they match. Doing this regularly helps to spot errors, catch fraudulent transactions, and maintain accurate records for tax reporting. If you spot any discrepancies, addressing them immediately can prevent financial headaches and bigger issues down the line.

MANAGING INVOICES AND BILLS

Cash flow is at the heart of any business, and keeping up with invoices and payments is essential. Aim to send invoices promptly, with clear terms to encourage timely payments. Regularly following up on outstanding payments also prevents unpaid invoices from piling up. You should also track bills and pay suppliers before due dates to maintain strong relationships and avoid penalties. Additionally, since Gibraltar has no VAT, maintaining accurate records of import duties when purchasing goods internationally is essential for customs compliance.

SIXTH EDITION

THE ESSENTIALS OF BOOKKEEPING FOR SMALL BUSINESSES1

4.

UNDERSTANDING FINANCIAL REPORTS2

Financial reports provide valuable insights into your business’s health. Your Profit and Loss Statement shows whether your business is profitable, your Balance Sheet provides an overview of current assets and liabilities, and your Cash Flow Statement helps you anticipate potential financial shortfalls. Regularly reviewing these reports allows you to make informed business decisions and stay ahead of Gibraltar’s tax deadlines.

Reconciliation: The process of ensuring financial records match bank statements and other documentation.

HOW TO MAKE BOOKKEEPING WORK FOR YOUR BUSINESS Bookkeeping doesn’t have to be an overwhelming chore in your business. By keeping your records up to date, separating business and personal finances, planning for taxes in advance, and seeking professional advice when needed, you can manage your finances with confidence. Staying organised and proactive not only ensures compliance but also positions your business for long-term success in Gibraltar’s competitive market.

Expense: Any cost incurred in running a business.

Revenue: The total income generated from business operations.

Cash Flow: The movement of money in and out of a business.

THE MAGAZINE FOR THE GFSB

1 https://smallbusiness.co.uk/how-to-do-bookkeepingas-a-small-business-2563642/

https://online.hbs.edu/blog/post/how-to-readfinancial-statements

2

www.gfsb.gi To advertise with us contact admin@gfsb.gi

15

JUL 2025 SIXTH EDITION

THE THREE TOP TIPS FOR EFFICIENT BOOKKEEPING

1.

ORGANISE YOUR RECEIPTS AND FINANCIAL RECORDS

Lost receipts and missing records can make bookkeeping a nightmare.

One of the best ways to avoid this and stay organised is to go digital.

Using cloud-based apps to store and categorise receipts makes it easier to track expenses and retrieve records when needed. Labelling receipts properly and keeping tax-related documents in a dedicated folder will also save time and improve accuracy when it’s time to file returns with the local tax authorities.

2.

CHOOSE THE RIGHT SOFTWARE

Manually recording every transaction is time-consuming and prone to human error. Investing in bookkeeping software can automate much of the process and save you valuable time. Popular options trusted by small business owners include Xero, QuickBooks, and Wave Accounting.

3.

CONDUCT REGULAR FINANCIAL REVIEWS

Just as you check in on your business operations, it’s important to check in on your finances. Setting aside time each week to log transactions and reconcile accounts can prevent small errors from turning into major issues. Furthermore, reviewing your financial reports monthly will give you a clear view of how your business is performing and help you plan for the future, while quarterly tax reviews will help you stay prepared for corporate tax deadlines.

16

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025

THE PERFECT GIBRALTAR STAY

GET IN TOUCH For the best corporate rates, book direct, scan the QR code below to visit our website and start planning their perfect Gibraltar stay.

OUR CONTACT: +350 56002039 www.e1suitesandspa.com reservations@e1suitesandspa.com

Parasol_printing_ Abril 2021.pdf

1

20/04/2021

11:05

Home from home Fully equipped kitchen and utilities On-site adults only (18+) spa and state-of-the-art fitness suite Freska Bistro open from 8 til late (breakfast rate options) Free cancellation up to 48 hours Invoice payment options available Secure on-site parking (add on) 20% off spa treatments from Mon-Fri (until 3pm)

C

M

Y

CM

MY

CY

CMY

K

WEALTH MANAGEMENT | VENTURE CAPITAL | PHILANTHROPY ESTABLISHED 2004

I N T E R N AT I O N A L

INFO@PARASOLINTERNATIONAL.COM

THE MAGAZINE FOR THE GFSB

www.gfsb.gi To advertise with us contact admin@gfsb.gi

17

JUL 2025 SIXTH EDITION

Musings: Is Life Just Busywork?

JOHN W. HAYES

M

y name is John Hayes, and I’m a really busy guy. Busy procrastinating most of the time. You wouldn’t believe how many unessential tasks I had to complete before sitting down and writing this article. Those sales reports and emails don’t check themselves. Yep, I’ve been busy. Busy doing nothing.

We’ve all had one of those days where we feel like we’ve been incredibly “busy” - but can’t quite put our finger on what we actually accomplished.

Maybe we spent three hours answering emails, another two fiddling with a spreadsheet no one asked for, and another hour in a meeting that could have been an email or WhatsApp message. At the end of it all, the to-do list somehow got longer, not shorter.

18

Welcome to the wonderful, time-sapping world of busywork. This is the professional equivalent of treading water and the real reason why you’re drowning in work.

WHAT IS BUSYWORK, ANYWAY? Busywork is the art of appearing productive without actually making any significant progress. It’s the constant checking of your inbox, the unnecessary tweaking of PowerPoint slides, and the pointless reformatting of documents. It’s the time-consuming tasks that seem important but don’t contribute to your actual work.

It masquerades as productivity, but it delivers little value. And in the high-stakes world of small business, especially here in Gibraltar, it can be the silent killer of growth, creativity, and sanity.

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025 SIXTH EDITION

CLASSIC EXAMPLES OF BUSYWORK Let’s break it down. Here are a few prime suspects:

THE NEVER-ENDING MEETING:

A regular 30-minute catch-up becomes a two-hour debate about absolutely nothing of importance.

OVERREPORTING:

Creating reports to justify creating more reports.

HINT: Again, all of the information anyone in your business needs should be readily available in your various software systems.

Train your team to use them properly.

HINT: If a meeting doesn’t have an agenda,

it doesn’t have a purpose. Cancel it, or just don’t go.

EMAIL TENNIS:

Endless back-and-forths trying to arrange a meeting no one really needs.

DIY DISTRACTIONS:

Doing admin, tidying the marketing cupboard, or fixing the office printer when someone else could (and should) be doing it.

HINT: Pick up the phone and speak to your colleagues instead.

HINT: Don’t get us wrong, some admin is essential. But when small business owners start confusing motion with progress, that’s when trouble starts brewing.

SPREADSHEET OLYMPICS:

Updating data just because “it’s always been done this way.”

HINT: If your business has invested in a CRM

system, accounting software, or marketing automation technology, a spreadsheet is downright dangerous and will never provide accurate details.

WHY BUSYWORK IS BAD FOR BUSINESS (ESPECIALLY IN GIBRALTAR)

● TIME DRAIN: You’re spending hours on tasks that don’t generate revenue or drive the business forward.

Running a small business in Gibraltar is no easy feat.

With tight-knit markets, limited resources, and the need to wear multiple hats (sometimes all at once), your time is your most valuable asset.

● PRODUCTIVITY PARALYSIS: When everyone’s drowning in “stuff,” innovation and creativity get shoved to the bottom of the pile.

Busywork, however, robs you of that time. And the costs add up:

● BURNOUT CENTRAL: Constant busywork can lead to chronic stress, fatigue, and eventual burnout. ● MISSED OPPORTUNITIES: You can’t chase new business when you’re chasing down petty admin.

THE MAGAZINE FOR THE GFSB

www.gfsb.gi To advertise with us contact admin@gfsb.gi

19

JUL 2025 SIXTH EDITION

SO, HOW DO WE FIX IT? Now that we’ve diagnosed the problem, let’s talk about the cure. The good news? It’s easier than you think. Here are a few practical tips that can help you ditch the busy and focus on the work that really matters.

1. PRIORITISE LIKE A PRO:

4. REVIEW AND RESET REGULARLY:

Not all tasks are created equal. Focus on the bigticket items that move your business forward and stop wasting time on the low-impact fluff.

2. DELEGATE OR OUTSOURCE: Here’s a truth bomb: just because you can do something, doesn’t mean you should. Hire a freelancer to handle bookkeeping. Bring in a VA to manage customer emails. You’ll be surprised how much headspace you free up when you stop trying to do everything yourself.

Make it a habit to audit your weekly tasks. What felt productive but didn’t deliver results? What can be eliminated or delegated next week? Constant reflection is key to escaping the busywork loop.

5. SET CLEAR BOUNDARIES: Just because your phone buzzes at 9 pm doesn’t mean you have to respond. Set work hours, enforce them, and respect your own time. This is a powerful step towards a healthier work-life balance, leading to a more energised and focused workday.

3. AUTOMATE THE MUNDANE: From automated invoicing and scheduling tools to social media planners and CRM systems, there’s no shortage of affordable tech out there to take the grunt work off your hands. Embrace it. Let the robots do the busywork while you focus on growing your business.

THE REAL WORK BEGINS WHEN THE BUSY STOPS Reducing busywork doesn’t mean doing less - it means doing better. It means clearing the clutter to focus on what truly matters: serving your customers, building your brand, and making your business the best it can be.

And when you ditch the illusion of busyness, you gain something far more valuable: clarity, creativity, and the capacity to grow.

So, the next time you catch yourself deep in the weeds of a colour-coded spreadsheet that nobody asked for, ask yourself: Is this the best use of my time? Because in business, and in life, meaningful progress always beats mindless motion.

20

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025 SIXTH EDITION

THE MAGAZINE FOR THE GFSB

www.gfsb.gi To advertise with us contact admin@gfsb.gi

21

JUL 2025 SIXTH EDITION

At NatWest International our Commercial teams are here to support you with all aspects of your banking needs.

Meet the Commercial Banking Team from NatWest International

We provide everything from timely movement of payments through our multi-currency electronic banking platforms, to satisfying complex liquidity and borrowing needs. Across our four jurisdictions we’re proud to help our 14,000 customers, spanning from sole traders and SMEs to large corporates. Our dedicated team of experienced Relationship Managers are on hand to offer support and guidance.

The local team are introduced below, with each being a key member of the NatWest International team…

Bianca Lester Head of Corporate and Commercial, Gibraltar E: Bianca.Lester@rbsint.com T: +350 56001476

Bianca started her career in RBS Gibraltar 27 years ago. After having fulfilled several different roles within the Bank, Bianca joined the Corporate Team in October 2003. She’s been involved in several key local transactions over the years and 5 years ago took up the role of Head of Corporate and Commercial for Gibraltar.

Bianca comments, “I am delighted to have been given the opportunity to develop and support our corporate customers, ranging from the small business in the high street to the largest corporate businesses in their everyday banking needs. I am committed to providing an excellent customer service and delivering the best customer experience.”

Eligibility criteria may apply. To apply for a loan, you must be 18+ and an existing NatWest International Business account holder and resident in the Channel Islands, Gibraltar or Isle of Man. Subject to status, business use only.

Your business must be registered in the Channel Islands, Gibraltar or Isle of Man. Security may be required. Product fees may apply. Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.

22

www.gfsb.gi

To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025

Amanda Cid de La Paz

Relationship Manager, Top 25 Portfolio

Assistant Relationship Director

E: Mark.Stevens@rbsint.com

E: Amanda.CiddeLaPaz @natwestint.com

T: +350 20014438

T: +350 57302000

Mark has been with the Bank for over 30 years. He worked in the UK, before moving to work in Guernsey, Isle of Man, Jersey and now Gibraltar. Having started his career in the retail side of the business, Mark transitioned across to the Commercial team when he moved to Jersey. He has taken on roles in both Real Estate Finance and Corporate and Commercial.

Mark says, “My attitude and drive has always been centred around putting the customer first and treating our customers in the way I would like to be treated.

My desire to help all bank customers means I am always happy to help find practical solutions and to collaborate with colleagues to ensure we find the right outcomes to support our local communities.”

Amanda started her career in retail banking over 23 years ago and has held various customer-facing roles within NatWest International. She has diligently worked on developing her communication and leadership skills, earning the trust of both colleagues and customers as a trusted advisor. Transitioning onto the Corporate and Commercial team to become a Senior Assistant Relationship Director 3 years ago, she has committed to building enduring relationships with her customers and understanding their needs to provide tailored solutions.

Amanda comments, “I am a proud advocate of our NatWest International brand, bringing a wealth of knowledge and experience in both the personal and non-personal sectors of the bank. I strive to provide an exceptional service to our customers and support them with their banking needs.”

Sylvana Balestrino

Cheryl Neale

Relationship Manager

Assistant Relationship Manager, Commercial Banking

E: Sylvana.Balestrino @natwestint.com

E: Cheryl.Neale@rbsint.com T: +350 58009610

T: +350 20014617

With over 33 years of service at NatWest International, Sylvana Balestrino brings a wealth of experience and expertise to her new role as Commercial Relationship Manager. Her career spans a wide range of positions, most recently as a Senior Mortgage Specialist, where she delivered tailored financial solutions to personal and business clients.

Sylvana’s strong local market knowledge, meticulous attention to risk management, and unwavering commitment to customer service enable her to build trusted, long-standing relationships, underpinned by integrity, care, and a genuine passion for helping clients achieve their financial goals. Sylvana comments, “I’m passionate about building lasting relationships and being a trusted partner who genuinely supports customers through every stage of their journey.”

Cheryl started her banking career in 2001 at the age of 19 where she was part of the operations team.

Over the years she has worked in several different departments including voucher processing, payments and cashier. Through these roles she has gained a lot of knowledge on systems and processes.

Cheryl has been part of the Corporate Banking team for the past two years and she likes to ensure that her clients receive a high standard of service and works to form a close working relationship with them.

Cheryl believes, “Excellent customer service is the key to a great relationship with the customer.”

NatWest International is the registered business name of The Royal Bank of Scotland International Limited under the Business Names Registration Act. Gibraltar business address: NatWest International House, 57 Line Wall Road, Gibraltar. Tel. 200 77737 or 200 73200.

Regulated and authorised by the Financial Services Commission, Gibraltar to undertake Banking and Investment Business from 55 and 57 Line Wall Road, Gibraltar. Calls may be recorded. Internet e-mails are not necessarily secure as information might be intercepted, lost or destroyed.

Please do not e-mail any account or other confidential information.

THE MAGAZINE FOR THE GFSB

www.gfsb.gi

To advertise with us contact admin@gfsb.gi

23

SIXTH EDITION

Mark Stevens

JUL 2025 SIXTH EDITION

Explainer: Strategic Comms

“

GABRIELLA KIRKBY

Strategic importance” is usually a phrase heard when describing Gibraltar’s position on the world stage. Of course, that is regarded in a military sense, however strategy is important in any corporation.

Specifically, a strategic communications plan is crucial for businesses in Gibraltar as they navigate the complex changing global and local landscape, especially in areas like finance, gaming and tourism.

It’s an interesting time to be operating out of Gibraltar. With the terms of the treaty now public and being deciphered and continuous twists in the sphere of global affairs, our small corner of the world is still very much open for business, but how can we push a message of stability and credibility to clients, customers and stakeholders, both domestically and internationally? This is where strategic communications comes into play.

Lord Alok Sharma. As a recent graduate, away from Gibraltar, I was thrown in at the deep end where failure was not an option. At 24 years old I was ecstatic that my first general election candidate was re-elected with an increase of 2000 votes. Fast forward a few years and I’m now at the centre of the communications department for one of the most scrutinised companies in the UK, Thames Water, which in 2024 was on the front page of newspapers nearly 110 times.

Firstly, let’s establish what I mean by “strategic communications.” In essence, it is the utilisation of planning and research into purposeful messaging that aligns with your business goals. We want to get the right message in front of the right people and at the right time, through the right channels.

When done effectively this can help build trust, facilitate industry wide changes and manage reputations to your advantage.

With Thames Water providing a life essential service, continuous reporting and questions over the financial standing of the business can quickly spiral into panic, meaning, impactful communication is fundamental to build trust with customers. To facilitate this, we have and continue to establish consistent and coherent messaging to the general public to demonstrate both challenges and progress within the industry. This includes campaigns highlighting billions of pounds worth investment into the network, profiling financial assistance available to our most vulnerable customers and a recent documentary on BBC 2, Thames Water: Inside the Crisis, giving viewers behind the scenes access to executive meetings.

Take the recent power outage across the Iberian peninsula or the M&S cyber-attack, incidents of this nature are a clear example of why communications is so important all year long. So, when the big incidents occur, clients, customers and members of the public, have confidence in you and your corporation to handle the crisis.

I first came across strategic communications, when I was assigned to lead the 2019 UK general election campaign for the then Cabinet Minister, 24

In these positions I have quickly learned that anyone can create a website, send out newsletters and post on social media. But no matter what communications tactics you use, without a strategy to guide them, these efforts will not amount to much when it comes to

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025

meeting key performance indicators. With that in mind, knowing how and which audiences to approach is of the up most importance, to communicating effectively.

For example, the continued promotion of Gibraltar as a leading gaming hub can be succeeded in managing stakeholder relations. Effective communication with regulators, industry players and the public is crucial in fostering a positive and supportive environment.

Conversely the encouragement of Gibraltar as a tourist destination can be profiled using a hands-on approach, such as digital marketing tools that work at a fast pace and keep up with social media trends to grab the attention of holidaymakers in under ten seconds.

desired outcomes in a complex and interconnected world, whether that be boosting sales or bolstering reputation. For businesses in Gibraltar strategic communications are essential for their continued success and prosperity in this ever evolving and competitive markets.

Want to chat more about how strategic communications can help your business – get in touch with Gabriella Kirkby at gabriellakirkby@gmail.com

In aligning a strategic communications plan, you can create a cross department collaboration across your business to ensure your messages are consistent with your organizational objectives. Inconsistency between what your organization says it does, and what it actually does is not a good look. Neither is your communications department having to play catch-up on decisions they were not privy to, so giving them a seat at the leadership table, will always be beneficial to your business.

On the whole, strategic communications are not just about sending messages; they are about building relationships, shaping perceptions, and achieving

THE MAGAZINE FOR THE GFSB

www.gfsb.gi To advertise with us contact admin@gfsb.gi

25

JUL 2025 SIXTH EDITION

Meet the Brands Rewriting the Rules JOHN W. HAYES

Y

ou don’t have to look far to find the ghosts of once-great business models. Newspapers.

Blockbuster Video. Kodak camera film. All household names… until they weren’t. Just because you’re leading the market today doesn’t mean you’ll still be in control of the game tomorrow.

THE RISE OF THE DISRUPTORS The next big thing in business won’t look like the last big thing. And it certainly won’t come from someone copying what’s already been done. If you try to beat Amazon by becoming a smaller version of Amazon, you’ve already lost. The only way to win is to come at the problem from a completely different angle.

Disruptors succeed not by following the leader, but by rewriting the rules.

Now, take a look at today’s digital giants - Amazon, Google, eBay, Facebook, YouTube. They’re still on top, but let’s be clear: disruption is coming and it’s taking no prisoners

26

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025

If anyone’s flipping the script right now, it’s TikTok. They’ve reshaped how we consume content, buy products, and even search for information. Beauty, books, music, fitness- TikTok has moved into every vertical with unfiltered, creator-driven content that actually sells.

They’ve turned ecommerce into entertainment and social into storefronts. TikTok Shop is stealing sales from Amazon and eBay. Even search engines are feeling the pinch as Gen Z asks TikTok what to buy, eat, or wear.

Takeaway for Businesses: TikTok isn’t just for teenagers dancing in their bedrooms. It’s an ecommerce powerhouse. If your brand isn’t experimenting with content or listings on TikTok Shop, you’re missing out on a massive opportunity.

AI IS COMING FOR SEARCH Remember when Google blew Yahoo out of the water in the late ‘90s?

We’re at the edge of another major shift - this time, driven by AI. Tools like ChatGPT don’t just return search results; they deliver answers. And that’s bad news for ad-funded search models.

Takeaway for Businesses: AI is redefining how people find information. If you’re relying on traditional SEO to drive traffic, it’s time to rethink. Focus on quality content, structured data, and owning your niche - before AI tools start doing it for you.

SIXTH EDITION

GAMIFICATION: THE TEMU TACTIC

TIKTOK: RIPPING UP THE PLAYBOOK

Temu might not be on every marketer’s radar just yet, but it should be. What started as a bargain-bin mobile app is becoming a serious competitor thanks to gamified shopping, social incentives, and aggressive expansion. Amazon is so worried they launched “Haul,” their own discount app, just to keep up.

Takeaway for Businesses: New online marketplaces are gaining ground fast. Now’s the time to test these platforms before everyone else jumps on the bandwagon and competition forces margins down.

THE GOOD NEWS? SOME THINGS STILL WORK Despite all the disruption, there are channels that continue to deliver, day in and day out: ● Email Marketing: It’s the unsung hero of digital.

Owned, reliable, and great for nurturing relationships - especially when powered by good data. ● SMS Marketing: If you need eyeballs fast, SMS gets the job done. High open rates. High urgency.

High returns. ● Content Marketing: Still the best way to tell your story and engage your audience. But remember quality trumps quantity every time. ● Social Media: Yes, it’s noisy. Yes, algorithms are tough. But businesses that use social for conversation - not just broadcast - are seeing real results.

FINAL WORD Change is inevitable - but businesses that embrace change, and act before the market forces their hand - can stay ahead. The question is, how will you embrace the new normal?

THE MAGAZINE FOR THE GFSB

www.gfsb.gi To advertise with us contact admin@gfsb.gi

27

JUL 2025 SIXTH EDITION

What We Learnt from COVID Five Years On JOHN W. HAYES

F

ive years ago, life as we know it came to a grinding halt. The COVID-19 pandemic, initially just a headline from a distant country, arrived in Gibraltar on March 4, 2020, via a visitor from Northern Italy who had flown into Malaga Airport.

While the initial patient quickly recovered, 70 more people would soon test positive for the virus before a “total social lockdown” was announced on March 22, closing non-essential businesses, prohibiting non-essential travel, and banning social gatherings.

At the time, Chief Minister Fabian Picardo’s warning was stark: “Let us remember that failure is not the growth of the number of detected infections. Failure is an unnecessary increase in the number of deaths. Failure is not slowing the virus down so that we are able to deal with the numbers of infected people manifesting at our hospital.”

Looking back on this period of incredible uncertainty, it would be all too easy to suggest that Gibraltar was very lucky compared to other regions in Europe and the wider world. Its tiny population (resulting in a swift vaccination campaign), relatively youthful demographics, and warm climate were all highlighted for the territory’s relatively controlled and effective response to the pandemic. Despite this, some 113 deaths were attributed to the pandemic from 20,550 confirmed cases in Gibraltar between 2020 and 2024.

28

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025

For Gibraltar’s start-up business community, the future was far from certain. Stuart Hedly, co-founder of EBike-Gibraltar, describes the pandemic as an “interesting time.”

“In early 2020 we moved into our first premises located in Ocean Village and opened doors to a business selling eBikes as well as eBike experiences on the Rock. Two weeks later, the first pandemic lockdown was instigated, and our tourist industry evaporated overnight.”

The company would have to adapt quickly if it were to survive.

“During this period, we adjusted our business model, directed our energy away from the tourist industry, and focused 100% on the local community. We successfully argued that we were an ‘essential service’ in order to remain available. We dedicated our entire fleet of eBikes to help locals maintain their well-being during lockdown and assist with deliveries to the vulnerable. Our workshop was also open to ensure the cycling community were able to keep their bikes on the road.”

In many ways, the pandemic created the perfect environment for the business to thrive.

“The minimal traffic during this time created a golden age of cycling in Gibraltar, and we were delighted to provide bikes and services in order to contribute to this,” says Hedly. “Our actions were recognised by the GFSB and we were awarded the Business Innovation Award 2020.”

Emerging on the other side of the pandemic, the company has gone from strength to strength as cycling and, in particular, eBikes have become an essential component of Gibraltar’s transport infrastructure and benefit the returning tourist trade.

“Now in our sixth year, we feel well established, and we are pleased with the acceptance and adoption rate of eBikes,” says Hedley. “Visitors delight in ascending the Rock by bike, and we have exceeded 7500 guests on our guided tours. We have introduced a number of businesses to the eCargo bike, which they utilise for deliveries, and we feel there is much further progress to achieve in this area.”

THE IMPACT OF COVID ON ESTABLISHED BRANDS

It wasn’t just the start-up community that had the rug pulled from beneath their feet by COVID-19. For many established brands on the Rock, the pandemic

THE MAGAZINE FOR THE GFSB

was the nudge they needed to swiftly adopt new technologies to reach their customers. As highlighted in a previous issue of Thrive Magazine, the pandemic saw companies like Saccone and Speed and Carlos Electronics quickly adopt ecommerce platforms to reach consumers who were unable, or even prohibited from visiting the shops (anyone who had tested positive, suspected they might have Covid, and residents over the age of 70 had to stay home).

SIXTH EDITION

AN “INTERESTING TIME” FOR GIBRALTAR-BASED START-UPS

Highlighting the importance of their online sales platform at the time, Guy Povedano, associate director at Saccone and Speed, said, “The online selling platform was set up during Covid as the only means of sale directly to the consumer at the time.”

While ecommerce proved essential during the Covid crisis, it also proved very popular with customers in the post-pandemic world.

Essentially, there was no putting the genie back in the bottle. In many ways, this is just one example of how the pandemic introduced new working practices in Gibraltar, which are now commonly referred to as the new normal.

SUPPORTED BY THE GFSB

In times of crisis, it’s always good to be part of a community. For Gibraltar’s small business community, that means being a member of the GFSB. As chair of the GFSB during the pandemic, Julian Byrne, owner of the website and graphic design agency Piranha Designs, was on the frontline fighting for Gibraltar’s small businesses.

“We needed to react quickly and work closely with all stakeholders to do the best we could in an unprecedented time,” says Byrne. “The world was changing rapidly, and Gibraltar business owners were just as worried as everyone else. Some of them were more worried than others as their livelihoods depended on income that was about to disappear and had taken years of hard work to achieve.”

The GFSB’s longstanding reputation gave the federation vital access to government, ensuring open lines of communication between the business community and political leaders.

During this time, the Government of Gibraltar introduced the Business & Employee Assistance Terms (BEAT) scheme to support businesses and employees affected by lockdown measures. The GFSB played a pivotal role in communicating

www.gfsb.gi To advertise with us contact admin@gfsb.gi

29

JUL 2025 SIXTH EDITION

these measures to its members and advocating for their interests.

“Our good working relationships, including with the Government, meant that we were invited into the small group that helped shape the solutions and aids for businesses and employees during Covid,” says Byrne. “We put in a lot of effort to listen to our members’ concerns and relay them to the right people. We also spent many hours in meetings, most of them via Zoom, to ensure that business owners were not neglected in this important time. As the pandemic ended, we continued to support businesses and business owners to help them get back on their feet and push forward.”

But it was the entrepreneurial spirit and resilience that really saw many small businesses pull through.

“I remember speaking to some business owners who were virtually in tears, seeing their treasured business suffering so much and hanging on by threads,” says Byrne. “Some of those saw the opportunity in selling online, and they even did the delivery themselves to keep the cost down as much as possible and at least generate a little bit of income. On the whole, the people pulled together, and with the BEAT measures, the commitment and dedication of owners and employees alike, the business community came through the other side.”

WHAT DID WE LEARN?

With the pandemic now largely behind us, it’s all too easy to think of it as ancient history. However, Covid-19 has completely changed how many of us work and potentially prepare for the unforeseen.

While nobody wants to see the return of a global pandemic, recent extreme weather events in the region, widespread power cuts in Spain and Portugal, and even uncertainty at the frontier demonstrate the importance of having a backup plan.

Thanks largely to the pandemic, remote and hybrid working is very much part of that plan now here in Gibraltar and internationally. This “new normal” creates greater opportunities for employers to access the best talent regardless of physical (always a challenge in Gib) while enabling employees to discover that elusive work/life balance.

Looking back, it’s incredible to consider how the world has changed in such a short time. In times of chaos and shifting consumer needs, innovation thrives pushing businesses to rethink traditional models and develop creative solutions that meet their customers and employees needs where they are.

30

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025

THE MAGAZINE FOR THE GFSB

www.gfsb.gi To advertise with us contact admin@gfsb.gi

31

JUL 2025 SIXTH EDITION

Gossip in the Workplace: An Interview with Glenn Rolfsen KATIE BULLER

W

ho doesn’t love a good office gossip? Hushed conversations by the coffee machine, knowing glances across the office, colleagues who “just thought you should know” – it’s all just harmless banter, right? Not quite. While gossip might seem like an inevitable part of office life, the reality is much less entertaining. Workplace backbiting can destroy trust, drain morale, and impact team productivity.

Few people understand this better than Norwegian psychotherapist Glenn Rolfsen. With over two decades of experience in psychotherapy, Glenn has dedicated his career to helping businesses tackle workplace negativity head-on. His innovative “Gozzip” method has been transforming office cultures worldwide, earning him recognition at TEDx talks and WHO conferences.

Recently, Glenn brought his expertise to Gibraltar, speaking at the 2023 GibSams Wellbeing at Work event. In this interview, he shares the inspiration behind his approach, why backbiting is more damaging than we realise, and how small businesses in Gibraltar can build healthier, more positive office cultures.

32

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025 SIXTH EDITION

COULD YOU START BY TELLING ME WHAT LED YOU TO FOCUS ON WORKPLACE GOSSIP AND BACKBITING? My journey into workplace dynamics started in my practice as a psychotherapist, where I repeatedly encountered the deep emotional impact of work environments on mental health. I’ve always been fascinated by human behaviour—why we do what we do, especially in social settings. Over the years, I worked closely with leaders and teams and noticed a recurring theme: gossip and backbiting were silently eroding trust, lowering morale, and even contributing to burnout and mental health struggles. This realisation sparked a passion in me to create practical solutions that don’t just address conflicts but actually prevent them.

WHAT INSPIRED YOU TO DEVELOP YOUR GOZZIP CONCEPT, AND HOW DOES IT DIFFER FROM TRADITIONAL CONFLICT RESOLUTION? Gozzip was born out of necessity. Time and time again, I saw how small, seemingly harmless conversations could escalate into major workplace conflicts.

Traditional methods of conflict resolution focus on fixing problems after they’ve already caused damage.

Gozzip flips that approach—it’s about prevention. It helps people recognise early on how their words shape workplace culture and gives teams a framework to shift their conversations toward openness and respect.

What makes it unique is that it empowers everyone, not just leaders, to take responsibility for the tone of their workplace.

FROM YOUR EXPERIENCE, WHY DOES GOSSIP THRIVE IN WORKPLACES? Gossip often thrives in environments where uncertainty, THE MAGAZINE FOR THE GFSB

competition, and insecurity exist. When employees don’t have clear information or feel unheard, they naturally seek validation or clarity through informal channels. It’s also a survival mechanism—people try to navigate workplace politics by aligning themselves with groups or power structures. Another key factor is the lack of psychological safety. If people don’t feel safe to express concerns directly, they’ll resort to talking behind closed doors.

SOME PEOPLE MIGHT ARGUE THAT GOSSIP IS A NATURAL PART OF SOCIAL INTERACTIONS. WHEN DOES IT BECOME HARMFUL, AND WHAT IMPACT DOES THAT HAVE? Gossip is a part of human nature—it’s how we bond and share stories. But the line between healthy social interaction and harmful gossip lies in intention and impact. If the conversation builds trust and connection, it’s positive. If it isolates, misleads, or damages someone’s reputation, it becomes destructive. In workplaces, toxic gossip creates an undercurrent of fear and mistrust, draining energy that should be focused on collaboration and innovation. It also increases stress and absenteeism—people don’t thrive in environments where they feel they have to watch their backs.

HOW CAN BUSINESS OWNERS IDENTIFY WHEN WORKPLACE GOSSIP IS BECOMING A PROBLEM? ARE THERE ANY EARLY WARNING SIGNS? Yes, and the earlier you spot them, the better.

If you notice rising tensions, an increase in misunderstandings, or employees hesitating to speak openly in meetings, those are warning signs. High turnover and frequent complaints about colleagues can also indicate a culture where indirect communication is causing damage. One of the most telling signs is

www.gfsb.gi To advertise with us contact admin@gfsb.gi

33

JUL 2025 SIXTH EDITION

when people avoid certain coworkers or become guarded in their interactions.

HOW CAN SMALL BUSINESS OWNERS MANAGE GOSSIP IN TIGHT-KNIT TEAMS? Small teams are like families—there’s less anonymity, so personal dynamics are amplified. The key is to set clear expectations early on. Leaders should model direct and respectful communication and encourage employees to address concerns head-on rather than through third parties. A simple but powerful rule I suggest is the ‘no triangle’ rule—if you have an issue with someone, speak to them directly, not to a third person. Creating an environment where people feel safe to be honest prevents a lot of unnecessary negativity.

CAN YOU SHARE SOME STEPS FOR SMALL BUSINESS OWNERS TO CREATE A GOSSIP-FREE WORK CULTURE? 1. Define Clear Communication Norms – Set clear expectations for respectful conversations.

2. Lead by Example – Leaders must practice what they preach.

3. Encourage Direct Conversations – Provide training in constructive feedback and conflict resolution.

4. Recognise Positive Contributions – People who feel valued are less likely to engage in negative talk.

5. Foster Psychological Safety – Create a workplace where employees feel safe expressing concerns openly.

WHAT’S ONE IMMEDIATE STEP GIBRALTAR’S BUSINESS OWNERS CAN TAKE TO IMPROVE COMMUNICATION? Start with self-awareness. A leader’s communication style sets the tone for the entire team. My advice?

Take an honest look at how you communicate. Are you encouraging direct and constructive dialogue? Are you unintentionally reinforcing a culture where indirect talk is the norm? By being mindful of their own behaviour, leaders can create a ripple effect that changes the workplace dynamic.

AT THE 2023 GIBSAMS EVENT, WHAT KEY INSIGHTS DID YOU SHARE? ARE THERE ANY GIBRALTAR-SPECIFIC CHALLENGES?

FINALLY, WHAT DO YOU HOPE PEOPLE TAKE AWAY FROM YOUR WORK, AND WHAT’S NEXT FOR YOU IN THIS FIELD?

My keynote at GibSams focused on the deep connection between workplace communication and mental health. I spoke about how a culture of trust and transparency can prevent stress-related issues and even play a role in suicide prevention.

One challenge I noticed in Gibraltar’s small business community is the overlap between personal and professional relationships—it’s a tight-knit place where colleagues often know each other outside of work. This can be a strength but also a challenge when professional boundaries get blurred. Defining clear communication norms is even more critical in such environments.

34

I want people to realise that workplace culture isn’t just about efficiency—it’s about well-being. When people feel psychologically safe, they perform better, collaborate more effectively, and experience less stress. My next step is to continue expanding my work on workplace mental health, particularly in suicide prevention. I’m developing the next evolution of the Gozzip model—’Gozzip 2025’—to help organisations create workplaces where people don’t just survive but truly thrive.

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025

219 Main Street

+350 200 50605

brian@hills-properties.com

hills-properties.com

www.infinitygroup.gi

corporate@infinitygroup.gi

GIBRALTAR’S FAVOURITE HEALTH CLUBS

INFINITY

5

PLATINUM CLUBS

UNDER

www.gfsb.gi To advertise with us contact admin@gfsb.gi

MEMBERSHIP

Atlantic

Health

Reshape

&

Ocean

THE MAGAZINE FOR THE GFSB

1

Club

Rumble

Health

Sunborn

Gym

E1

Wellness

Spa

&

(Unlimited)

Club

35

JUL 2025 SIXTH EDITION

New Tech and Retail RAJU PURSWANI

T

echnology is having a major effect on every aspect of our lives, and the retail environment is not immune to these changes. Not only has online shopping revolutionised the way we think about buying and consuming, but it has also dramatically changed how we shop in physical stores.

Recent surveys into consumer habits show that, although many shoppers now consider online shopping as an option, many also enjoy the experience of shopping in a retail store. For fashion purchases, in particular, customers like to personally examine products for cut and fabric quality and still prefer to try on garments and footwear before they buy.

36

Technology is being implemented in the retail environment for the following benefits: 1. Streamlining and automating repetitive processes 2. Providing information to allow retailers to fine-tune their offerings to customers and, in some cases, personalize the experience 3. Installing smart digital displays in-store. These not only provide information, as traditional screens did, but can also function as interactive displays, allowing customers to query and communicate with retailers.

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025 SIXTH EDITION

In the face of repeated crises affecting consumer confidence, it is no surprise that a lot of the conversation among visitors focused on how technology could be used to reduce operating costs. However, the mood on the stands was optimistic, with the real emphasis being on how technology can improve the consumer experience—not only through visual graphics but also by freeing up salespeople to spend more time with customers rather than processing transactions.

With this in mind, I recently visited the Retail Technology Show, held at London’s ultra-modern ExCeL trade centre. Along with trade exhibitors, there were a number of presentations from leading figures in the world of retailing and show business, such as Joe Wicks and Theo Paphitis, who discussed how they had harnessed the power of technology to achieve their goals.

All our worlds are changing, and so are our requirements and expectations. Despite our 36 years of experience in the market, the team at Marble Arc is still excited to take on the challenges of innovating in order to improve what we do for our customers. Watch this space!

Several technologies were very well represented by exhibitors, including: EPOS (Electronic Point of Sale) systems RFID technology Self-checkout hardware In-store digital displays And AI in virtually every area!

These innovations will, no doubt, become even more prevalent on our high streets in the very near future.

THE MAGAZINE FOR THE GFSB

www.gfsb.gi To advertise with us contact admin@gfsb.gi

37

JUL 2025 SIXTH EDITION

DISCOVER THE RECENTLY REFURBISHED GFSB BUSINESS HUB A versatile, welcoming workspace in the heart of Gibraltar ideal for everything from formal meetings to casual drop-in work sessions. Located within the Gibraltar Federation of Small Businesses premises at 122 Main Street, this recently refreshed hub houses the Gibtelecom Conference Hall, justbank Boardroom, TTMS Meeting Room, and TTMS Library—each equipped with high-speed Wi‑Fi, air conditioning, and complimentary tea & coffee.

Whether you're planning a workshop, hosting a client pitch, or simply seeking a quiet, professional environment to get stuff done, the hub offers flexible room bookings daily.

CHECK OUT HIRE PRICES AND ROOM SPECS:

38

TAKE OUR 3D TOUR!

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025 SIXTH EDITION

Startup Stories:

Gibraltar’s AI Experts DAVID REVAGLIATTE

W

hen Toby White rolled out a selfdriving car project at university in 2015, he wasn’t expecting a queue of businesses asking for his help. “They wanted to bring me in on short-term contracts to cut costs,” he recalls. “I suggested consulting instead.

That way, they got the expertise without the admin, and I could work across multiple projects at once.”

That early experiment laid the foundations for Artimus Consulting, now a Gibraltar-based AI and software consultancy serving clients across the UK, Europe and beyond. Artimus offers more than software builds.

Its model includes fractional CTO and CPO services, embedded engineering teams, and long-term product strategy support.

The consultancy operates at the intersection of machine learning, product innovation and infrastructure design.

But like most tech startups, it began with a few tough years.

THE STARTUP YEARS Between 2015 and 2018, Artimus remained UK-based and bootstrapped its way through - White freelanced, built websites and delivered data science projects to keep things afloat. The team hired its first full-time employee in 2019. After selling his other AI venture in 2021, White relocated to Gibraltar and committed to growing Artimus into a fully-fledged consultancy and repeatable service model.

THE MAGAZINE FOR THE GFSB

It was not long after this move that Toby invited veteran solutions architect, Byron Jones, to join the company as Partner and Chief Technology Officer.

“Byron has spent decades designing ultra-secure, cloud-agnostic infrastructure for organisations like the London Stock Exchange Group, Bayer and Virgin Money,” says White. “He brings the kind of technical depth and leadership that lets us support clients of any size, whether they’re migrating to the cloud or building something from scratch.”

www.gfsb.gi To advertise with us contact admin@gfsb.gi

39

JUL 2025 SIXTH EDITION

Together, they began to focus on building a more commercial, repeatable service model. “At the beginning, we said yes to everything, and that diluted what we were really good at. Now, we’re far more focused. We support scale-ups that need strategic engineering and AI advice, and we deliver the technology to match.”

AI BEFORE IT WAS FASHIONABLE One of Artimus’s core strengths is its early adoption of what is now called agentic AI – systems capable of completing multi-step goals with minimal human input. “We were building this in 2021. People hadn’t heard of it at the time. Now everyone is talking about agents.”

Its capabilities were recognised early on, Artimusbuilt Marketmate placed third in a global AI challenge in 2021. OpenAI, focusing solely on research at the time, before the release of it’s flagship product ChatGPT, came second. “That was a turning point for us. It showed we could compete at the highest level and build real systems, not just prototypes.”

But White is clear-eyed about how the market has shifted. “Since the release of ChatGPT, the bottom end of the market is flooded. Off-the-shelf AI solutions are everywhere, and it’s harder to explain the value of doing it properly.”

In 2025, a University of St Andrews study of nearly 10,000 UK SMEs found that AI adoption could boost productivity by between 27% and 133%. A separate Google-led pilot estimated that UK workers could save up to 122 hours per year through the use of AI tools, with potential economic benefits of £400 billion. While the business benefits of adopting AI seem straightforward, many companies struggle to understand it, let alone apply it effectively. “That’s where we come in,” says White. “We work with businesses who want to get it right, who want to integrate AI in ways that will actually scale.”

CASE STUDY:

SCALING IN HEALTHTECH

A recent example involves a fast-growing UK healthtech firm. The client, whose platform helps insurers access medical data, was under pressure.

Their infrastructure was creaking, and product delivery had slowed.

Artimus stepped in with a full review. They re-architected the platform using microservices and Kubernetes, introduced DevOps best practices, and used predictive analytics to shape the roadmap. The result: reduced downtime, faster product releases, and a tech stack that could scale.

“They didn’t just need code.

They needed decisions,” says White.

“We gave them both.”

40

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025 SIXTH EDITION

MAKING IT WORK IN GIBRALTAR

ADVICE TO FOUNDERS

Despite being based in Gibraltar for five years, most of Artimus’s client base remains abroad. “We thought Gibraltar would start catching up with the tech world.

We’re still optimistic that this can happen and can advise on policy and direction,” White says.

White’s advice to other tech entrepreneurs is pragmatic. “If you’re starting in Gibraltar, be prepared to be early. It’s not Silicon Valley. But if you stick with it, the opportunity is here.”

He believes that our jurisdiction has significant potential, particularly in the areas of data and infrastructure.

“Gibraltar was an early leader in blockchain regulation.

It could do the same with AI, but it needs to move fast.”

Local adoption remains limited. “We’ve had good experiences with clients like Acquarius, but many businesses here still view AI as something for later. The risk is they fall behind.”

White sees part of the issue as a lack of structured dialogue. “We’ve been here five years, building production-grade A, amongst other things at scale, across sectors, while advising others to do it in house.

We’d welcome the chance to contribute to Gibraltar’s wider tech ambitions and share what we’ve learned along the way.”

He also stresses the value of doing less, better.

“Early on, we tried to do too much. Now we’re disciplined. We say no more often, and that’s helped us grow.” White is still optimistic about the future.

“Gibraltar could become a data powerhouse. The question is whether we choose to lead or lag.”

For Artimus, the focus remains on helping clients turn their ambitions into scalable systems. “We’re engineers at heart. We build things that work.”

From a self-driving car project in 2015 to enterprise AI deployments in 2025, White’s journey shows what happens when expertise meets persistence.

Not every tech story starts in a big city. Some begin with a laptop, a challenge, and the decision to do things differently.

BEYOND TECH SUPPORT Artimus now runs a venture studio model that supports early-stage companies with everything from product design to deployment. “We know how to take a product from zero to launch. We’ve done it over and over.”

That studio approach is built on repeatable frameworks.

“Startups need strong foundations: good architecture, clean data, meaningful metrics. We help them build that from day one.”

The model has already helped ventures in health, insurance and proptech get to market faster. In one project, Artimus assisted an engineering firm in replacing paper-based processes with a custom software solution. The new tool streamlined site surveys and reduced errors, becoming core to their business.

THE MAGAZINE FOR THE GFSB

www.gfsb.gi To advertise with us contact admin@gfsb.gi

41

JUL 2025 SIXTH EDITION

THRIVE CATALOG

Welcome to our curated collection of goodies selected by our editorial team each quarter. Everything featured is available right here, right now at prices that are better than or compete with the internet.

Want to get a product featured in our next edition? Join the GFSB and get access to free advertising and a host of other member benefits.

1. MEAL IN A MINUTE

2. TRAVEL COMPANION Made from full-grain leather, this smart passport holder keeps your essentials safe and stylish. Holds your passport, notes and boarding pass all in one place (ideal for business trips or long weekends).

No time for lunch? No problem.

YFood’s Happy Banana is a ready-to-drink complete meal packed with 30g of protein, 26 vitamins and minerals, and no added sugar. Surprisingly filling and ideal for busy days on the move.

Leather Boutique & Accessories FROM: Check in store

Holland & Barrett, Main Street FROM: £3.50

3. KEEP IT COOL Escape the heat with Daewoo’s smart portable air conditioner. With WiFi control, remote access and multiple fan speeds, it’s a summer essential you’ll wish you bought sooner.

carlos.gi FROM: £349

42

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

THE MAGAZINE FOR THE GFSB

JUL 2025

5. PINK HOUR

A classic Rioja that never disappoints.

Marqués de Murrieta Reserva is smooth, rich and elegant—ideal for pairing with tapas or gifting to someone who knows their wine.

Inspired by Gibraltar’s coastline, Quarry by Phoebe Noble captures a dreamlike view of the rock bathed in evening hues. A bold, contemporary piece that’s full of local colour—literally.

SIXTH EDITION

4. RESERVE A GLASS

Phoebe Noble Art FROM: £1,295 phoebenobleart@gmail.com

sacconespeed.gi FROM: £21

6. RISE ABOVE EXPECTATION Looking for a venue that leaves a mark? Spitfire Hall offers a one-of-a-kind backdrop with rugged stone walls and a suspended original Spitfire. Part of the new WW2 Tunnels attraction, this dramatic space is now available for private hire.

WW2 Tunnels FROM: Enquire Online

7. POOPER TROOPER Yes, it’s official merchandise. Hand-painted and fully licensed, Pooper Trooper is the perfect blend of Star Wars fandom and toiletside humour. Part of the Original Stormtrooper collection. More collectibles available in store.

ADAM, Main Street PRICE: £39.99

8. DESK TO DUSK Effortlessly chic with a smart edge, this striped midi skirt and boxy denim jacket combo takes you from the office to dinner in style. Pair with heels or flats depending on your mood.

Mango Gibraltar FROM: Check in store

THE MAGAZINE FOR THE GFSB

www.gfsb.gi To advertise with us contact admin@gfsb.gi

43

JUL 2025

SIXTH EDITION

More than a card, built for business.

Manage your business costs with real-time transactions and complete control.

justbank is a trading name of IDT Financial Services Limited a regulated bank, licensed by the Gibraltar Financial Services Commission. Registered Office: 57-63 Line Wall Road, Gibraltar. Registered No:95716.

The justbank Visa Business Debit card is issued by IDT Financial Services Limited, a principal member of Visa Europe.

The justbank logo and icon are registered trademarks of IDT Financial Services Limited.

Any use of this logo without permission is strictly prohibited.

44

www.gfsb.gi To join the GFSB contact admin@gfsb.gi

www.justbank.com

THE MAGAZINE FOR THE GFSB