The ‘State of Business Survey’ has
been sent out to the Chamber of Commerce membership to gather information for
the upcoming Future of Cayman forum planned for later this year.
The survey results will be
presented anonymously during the forum.
“The information gathered will help
us better understand the on the ground challenges of our membership” said Chamber
Chief Executive Officer Wil Pineau.
“Let’s name the problems we’re
facing and look at how we can apply the four I’s: Innovation, Investment,
Integration and Involvement in developing solutions,” he said.
“We have much to be thankful here
but success is no longer a default setting for our economy.”
The 24-question survey asks members
to identify the main constraints for business growth, to identify the top
drivers for the Cayman Islands economy and to rank their top ideas for
diversifying the economy.
Other questions ask member
businesses to rate the current economy, the Cayman Islands as a place to
conduct business, and the quality of the Cayman Islands Civil Service.
Members will also be asked whether
they plan to hire or lay off employees, increase or reduce wages, increase or
reduce hours, outsource jobs or expand or downsize their businesses and office
The online survey can be quickly
accessed and answered in just a few minutes, and members have until 23 April to
Results from the survey will be
used to determine the overall level of confidence in the local economy and will
be released annually by the Chamber. Results will be posted on the Chamber’s
website and released in an upcoming issue of The Chamber quarterly review
magazine in addition to being presented at forum.
“The Chamber encourages all members
to take a couple of minutes to fill out the survey and register your thoughts
and concerns about the current state of business,” said Mr. Pineau.
“It doesn’t matter how big or small
your business – everybody’s opinions are valuable and absolutely vital as we
look at the way forward.”
Member Businesses that complete the
survey will be entered into a drawing for a special prize.