The Treaty between the EU and the UK over Gibraltar is finally giving us some clarity, and yet, it also reminds us just how much sits outside our control. The finer details will take months to surface. Political tides may shift. Promises will be tested by practicalities. Every day, we face issues beyond our reach: new legislation, competitor actions, market trends, customer behaviour, staff turnover, illness, family responsibilities, global events. All of it lives in what Stephen Covey calls the Circle of Concern - things we care about, but cannot directly change. The more we fixate on them, the more frustration can grow.

One of the most dangerous things anyone can say in business is, "We've always done it this way." This phrase doesn't age well and puts businesses at risk. "We've always done it this way" can quickly look like "flogging a dead horse." This doesn't always mean that businesses need to change everything. Some things, like great service, never go out of fashion. But when sales start to slow down, it's always a good idea to consider taking a new approach. Rebranding a product, service, or entire enterprise can be part of this process. But rebranding should never be taken lightly.

Thrive catches up with Nick Pitaluga TEP, Managing Director of Gibraltar Trust & Corporate Services Limited - “GTCS”. From starting out as a messenger to leading his firm through a major merger, Nick talks about the importance of stepping outside your comfort zone and offers inspiration for anyone carving their own niche.

As the CEO of a specialist security business called Paladin Defence and close protection operative/ private security contractor, I have experienced security threats of all types since 1990. From opportunistic personal attacks to targeted organised commercial crime, I feel there is a lot more we should be doing to defend and protect ourselves. Understandably, Gibraltar is considered to have a relatively low crime rate; but what are the realistic threats and risks to small businesses in our corner of the Mediterranean?

In business, we often concentrate on the what and how of an enterprise.

In an age where small businesses must adapt to stay in business, outsourcing has long been a way to enhance efficiency and streamline operations. Derived from the simple philosophy of delegating certain non-core tasks to external experts, outsourcing allows businesses to concentrate on their primary objectives and strengths. For the uninitiated, it's about seeking external expertise for tasks outside your comfort zone, skills base or business's main expertise.

When you’re a small business, staying one step ahead of the competition is essential. Yet, many small business owners grapple with the decision to invest in employee training and development. With limited resources and immediate financial pressures, it can unintentionally get pushed to the bottom of the priority list. However, investing in your team’s learning and development is a strategic move that can yield significant returns.

Gibraltar has long been home to many international businesses. Gaming giants, UK-based insurance companies and far-flung fintech firms are all drawn here thanks to our strategic location and business-friendly environment. Carl Clavering moved his insurance business to Gibraltar, and it’s safe to say, it’s transformed his life. When I caught up with Carl, it was clear that his decision to relocate wasn't just about tax advantages or access to the UK market —it was about finding a place that felt like home, both for his business and his family.

Did you know that what you eat directly affects your energy levels, brain function, and stress resilience? Poor dietary habits—such as skipping meals, consuming too much caffeine, or relying on processed foods—can lead to energy crashes, brain fog, and reduced efficiency. On the other hand, a well-balanced diet stabilises blood sugar, enhances cognitive function, and keeps stress levels in check.

Over the past few years, I’ve noticed the same logo cropping up more and more often. On coffee cups. On consultancy websites. In email signatures and pitch decks. The familiar B Corp badge, quietly signalling that a business is trying to do things differently. With our horizons widening post-treaty, could this globally-relevant badge could become a way of promoting your CSR values to an international market?

Finding someone who listens, understands, and guides you can make all the difference. For women in Gibraltar, the Women’s Mentorship Programme offers just that – honest conversations and valuable support from people with lived experience who understand. Now in its sixth cycle, the programme pairs women with mentors to help them navigate work, life, and everything in between. Ok, full disclosure: as a recently appointed mentor, that last sentence somewhat triggers the old imposter syndrome and self-doubt, but I am honoured to be part of this scheme and look forward to doing my very best in the months ahead. 

When it comes to ideation in business, there’s no one-size-fits-all approach. Every business, team, and leader has their own way of generating and refining ideas. Whether it’s through structured brainstorming sessions, casual conversations, or solo reflection, the goal is to unlock creativity and find solutions.  We’ve asked four GFSB members to share how they approach ideation in their fields. As you read, think about how you generate ideas and remember that sometimes, the best results come from trying something new.

Welcome to the fifth edition of Thrive magazine. Too often the narrative around business focuses on success and, in my view, we forget to talk about failure. That’s why we lead this edition with EPIC FAILS by Katie Buller—because understanding what doesn’t work is just as important as what does.

Whilst Brexit hasn’t exactly been a positive event, we can’t deny that it’s also been the catalyst for diversification and change. It was a true ‘before and after’ moment that made businesses rethink their strategies and, in many cases, change their direction of travel. Gibraltar’s newest bank, justbank, is born from this process. As well as heralding the arrival of a new bank, this fresh start gave the team at IDT Finance the opportunity to create innovative and tailored banking solutions from the ground up. I met with Managing Director, Damian Asquez, and Head of Corporate Banking, Nikolai Gafan, to find out more.

When you’ve been running your own business for a while, you know what works, and it’s easy to rely on the skills that got you to where you are. Chances are, you’re comfortable doing things in a certain way, and your team knows what to expect from your leadership style.

Pets are like family, right? As a proud cat dad, I’d actually go further and say that they are family. Over the years, I have spent my well-earned money on (many) toys, beds, treats and vet bills for my two feline furballs Nacho and Drake. And I am not alone. According to a recent Fortune Business Insight report, the global pet care market was valued at a massive £171.78 billion in 2022 and is projected to grow from £180.06 billion in 2023 to £269.29 billion by 2030.

There’s something slightly uncomfortable about sending a contract to a client when you run a small business. Especially in Gibraltar, where relationships matter and business often begins with a conversation over un cafelito rather than a legal document. When you know someone personally, or you’ve been introduced by a mutual contact, it can feel unnecessary to formalise everything. You tell yourself that an email thread is enough. Or that you’ll sort the paperwork later. I used to think like that. Over time, and through a few situations that were more stressful than they needed to be, I’ve realised that putting things in writing isn’t about distrust. It’s about creating guardrails for growth. The clearer the boundaries, the freer you are to focus on doing good work.

Love is big business. According to official statistics, 1,745 weddings took place in Gibraltar in 2021 followed by another 1,761 weddings in 2022 and a further 1640 in 2023. That’s around 33 weddings each week or 6 every single day. With an estimated population of around 33,000, it’s safe to say that, no, we aren’t all marrying each other, but that Gibraltar is a very popular place for many people to come and say ‘I do’. In fact, in all three years, non-residents outnumbered residents by an average of 90% to 10%. The stats point to a healthy wedding sector, one that our Minister for Tourism, Christian Santos is keen to develop. In an interview with the Gibraltar Chronicle he recently said he wanted; “Gibraltar to be the Las Vegas of Europe” when it comes to weddings. Unlike Vegas, we don’t have Elvis. But we do have John. Music legend John Lennon famously married Yoko Ono here in 1969 and put the Rock on the map for ‘Fast Track’ weddings. If music’s not your thing, acting legend Sean Connery (AKA James Bond) also tied the knot here (twice)!

Over the past 18 years, I've had the privilege of working with a diverse range of businesses and industries, gaining insights into the challenges they face in implementing effective diversity and inclusion strategies. Often, DEI&B is viewed as a 'nice to have' rather than an essential component of business success. With this in mind, I'm excited to share valuable insights and practical steps to help you create environments where everyone can thrive. You've probably heard of DEI&B, but what do these letters really mean, and why do they matter for you and your organisation? Diversity includes differences like race, gender, age, neurodiversity, disability, LGBTQ+, culture, and more; Equity ensures equal opportunities for all; Inclusion values everyone's contributions; and Belonging means individuals feel accepted and integral to the organisation.

From the increasing influence of AI to the rise of social commerce and sustainability-driven consumer demand, the key to success lies in adapting strategically rather than chasing every new trend. This guide breaks down the most impactful trends for the year ahead—offering insights on how to integrate them into your business without losing sight of what already works. Smart adaptation, not blind reinvention, is the name of the game. Here's what to expect and how to make it work for you.