Determined to make the Cayman Islands a better place to do business and to live, we engage with political and government decision-makers at the local, regional and international levels to deliver real results for our members and the broader business community.
Our member-based surveys, research papers, focus groups, industry roundtables and task forces guide our advocacy positions and cover the key areas of financial services, tourism, health care, technology, economic development, inward investment, infrastructure, education, jobs growth and workforce development.
Expanding Cayman’s economic opportunities and improving the business climate are key goals of the advocacy agenda and action plan. The plan focuses our advocacy efforts in four main areas: Education, Employment and Workforce Development, Economic Growth and Diversification, Regulatory Efficiencies and Community Development.
We work to advance an agenda that supports economic sustainability as well as attract the talent, visitors and investors that will keep our Islands strong and prosperous for years to come. We invite the Premier, elected and official government members to an annual luncheon to interact with the membership. The Premier is invited to deliver a State of the Islands update and the Chamber President provides a State of Business address, identifying the top advocacy issues and policies that are important to the membership.
We conduct regular surveys on business conditions and an annual survey on the State of Business. Findings from these surveys and studies are shared with legislator and government leaders to inform public policy decisions.
Consulting with industry sectors provides us with information about key issues and economic trends that may be impacting the key business sectors. Feedback from these sessions assists with developing summary reports that are shared with Government and industry leaders who can act on the findings to improve the business environment.
We inform and educate our members and the wider community on topics and issues. Our award-winning Growth Matters campaign educated our community about how the Cayman Islands economy works and derives its income and why growth really does matter. Additional campaigns are being developed to educate the community about why financial services and tourism matters to the growth and ongoing development of our economy.
We host national forums in each constituency and invite political candidates to share their positions on the major issues. The results of an election issues membership survey provide the top questions for the forum and each candidate is asked to provide their views on these issues. The forums provide voters with a chance to compare the positions of candidates so that they are better informed when they cast their ballots. We do not endorse political parties or individual candidates but provide them with a platform to share their views.
Education and Workforce Development
Finding and retaining local talent is one of the greatest challenges facing the business community. Many school leavers who find employment out of high school lack basic literacy and numeracy skills and therefore find it difficult to advance in the workplace or even to retain their jobs. Financial services, health care, information technology and vocational and technical jobs demand a higher level of skills. We advocate for increased investment and focus in the Science, Technology, Engineering and Mathematics (STEM) curriculum in all schools to meet the needs of Cayman’s changing economy. Read the Advocacy Agenda and Action Plan.
Economic Growth and Diversification
Growing the economy and introducing new streams of business is essential for Cayman’s future. Offshore financial services and tourism are under intense competition and so we need to ensure that there are other sectors that can create the jobs of tomorrow and to work to maintain our existing industries. There is a need for a coordinated approach that will involve all stakeholders to establish a national dialogue and structured approach to inward investment and economic development. Read the Advocacy Agenda and Action Plan and watch Growth Matters.
Cayman Islands businesses want their regulatory requirements to be simple to understand, easy to follow and effective at getting their intended results. Onerous reporting requirements or slow processes add time and costs, especially for micro and small businesses which do not have large administrative resources. Advocacy efforts focus on calling for changes which ensure fair rules, efficient processes and timely decisions. We advocate for the establishment of a predictable business environment so local businesses can expand and for making the Cayman Islands an attractive place to do business so that companies choose to come here after considering their alternatives. Read the Advocacy Agenda and Action Plan.
Quality of Life
Strong communities are the foundation of the Cayman Islands society. We must ensure that all districts share in the economic success and enjoy a good standard of living and quality of life. Creating jobs, keeping our communities’ safe, protecting our precious natural resources and addressing the emerging social issues must remain at the forefront of the national agenda. Improving communications and collaboration will help to maximise resources and focus on issues that are of the greatest benefit to the widest audience in our community. Read the Advocacy Agenda and Action Plan.
The Cayman Island economy has prospered because of the close working relationship with the elected Government and public sector, investment in modern infrastructure, a competitive business environment, conservative fiscal policies, a skilled and multi-national labour force and an entrepreneurial business sector. This can only be achieved by remaining informed of the issues that matter to our members and work to address them in a collaborative process. We organise special events, develop reports and research papers and actively communicate through our website and social media channels. Be sure to visit our events and community calendar.
Advocacy starts with our members. They identify issues and concerns in surveys, focus groups, at meetings, events, online and through our feedback mechanisms. Issues are discussed at the Council level and then taken to working groups and task forces that determine whether policy work should be undertaken. Your involvement is key. You can volunteer your time to serve on the Council, working group or a special project. It’s easy to get involved. Just send us an email and we will let you know what opportunities exist.