Most Read Contributor in Cayman Islands, September 2016
The Ministry of Commerce has signed a Memorandum of
Understanding (MoU) with the Chamber of Commerce and the Cayman
Islands Small Business Association (CISBA) to assess the challenges
that face small and micro businesses in Cayman, and to produce an
action plan within eight months to provide a stronger platform for
The MoU – which came into effect on Wednesday, 29 June
– outlines various responsibilities for all three entities,
including public consultations, with the resulting assessment
guiding the development of an action plan to address areas of
concern for small business owners.
'Government realises the importance of the entrepreneurial
spirit in Cayman and this MoU is part of our ongoing efforts to
create a better environment for small businesses to flourish',
said Minister for Commerce, Wayne Panton.
'As we seek to further improve our commerce framework, it is
important that Government and members of the business community
work together to ensure that there is an efficient and effective
platform for business', he said
The MoU marks the latest effort by CISBA to impact local
commerce. The group participated in the latest round of the student
consulting programme at the University College of the Cayman
Islands and staged the 2016 Small Business Expo with the
'As an association run by local entrepreneurs, for small
business owners, CISBA is pleased to be part of this public-private
sector partnership', said CISBA President Dawn McLean-Sawney.
'By working with other key stakeholders, we hope to empower our
peers and provide them with better tools to be successful'. The
viability of local entrepreneurs is a key concern for the Chamber,
with approximately 65 percent of its membership consisting of small
'One of our main missions is to support, promote and protect
the interests of our members, especially those who own small
businesses', said Chamber President Paul Pearson. 'They
create new jobs and diversify the economy with innovative products
and services. We look forward to working alongside the Ministry and
CISBA to introduce strategies that will highlight the importance of
small and micro businesses in Cayman'.
From left: Chamber of Commerce President Paul Pearson, Minister
for Commerce Wayne Panton, and Cayman Islands Small Business
Association President Dawn McLean-Sawney signed off on the
Photo credit: Matthew Yates of MFSCE.
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