Annual State of Business Survey coming out soon

Annual State of Business Survey coming out soon

Annual State of Business Survey coming out soon.

The Chamber’s annual State of Business survey will be distributed to members in November – via email. The survey seeks to determine the issues that most affect our members and their businesses, informing the Chamber’s advocacy agenda on a broad spectrum of topics covering the economy, community, education, infrastructure, and the natural environment.

It only takes five minutes to complete and is designed to give you a voice. Last year’s State of Business Survey put the cost of living and cost of doing business at the top of nearly every member’s list. Businesses and households are being hit hard by rising interest rates on loans and mortgages, and skyrocketing insurance costs for property and for health. Traffic congestion and crime were also high on the list of problems.

But it isn’t only about listing problems. Chamber council members use the information to seek solutions. Recently Chamber representatives from the construction and development sectors met with planning department officials, to work out practical solutions to the long delays that are adding cost and time to building projects. Results from our minimum wage and traffic surveys have also brought forth many good ideas and have informed us too, helping us develop solid and positive positions in each area of concern.

The State of Business survey sent out at the end of 2022 showed continuing calls to increase the speed and efficiency of interaction with Government officials in immigration and WORC, as employers tried to fill key vacancies with the right staff. Other members said more and better training for Caymanians should be a priority so that vacancies could be met without resorting to work permits.

Other ideas brought to light by the survey included protecting small-and-micro businesses along with better education and training programmes, especially for Caymanians so that they didn’t lose out in the jobs market. There were also calls for more recycling, single-use plastics, and programmes that protect the environment. Several respondents saw steps to break down the Caymanian/Expat divide as being necessary for harmonious communities, along with tackling violent crime such as the alarming rate of armed robberies.

What’s your view? Would you like to see more roads or better public transport? Is too much ‘red tape’ hindering your business or slowing it down? Do you experience excessive delays when submitting planning applications or dealing with immigration and recruitment?  What can be done to fight the rising crime rate, bring the community together, or make the Cayman Islands more attractive to tourists?

It might be something nobody else has thought of. Our members represent a vital resource of local expertise, experience, and knowledge.  Our recent traffic survey contained many excellent ideas. When we see ideas like that, we do our best to add them to the discussion.

It’s your Chamber – it’s your call. Have your say by completing the State of Business Survey.