Commerce minister promises support for SMEs

(CNS Business): Joey Hew, the new minister for commerce in the Unity government, has said that the 2018/19 budget includes funding to support the small and micro business sector and that this administration is also aiming to reduce fees for them as well as cutting regulations and red tape that serve no purpose or are more hindrance than help. Speaking at the opening of the Cayman Islands Small Business Association’s headquarters on Mary Street in central George Town, Hew, who remains a small business owner while also being the minister for this sector, spoke about government’s commitment to the business community.

“Ours is a government that is keen to break down silos wherever they exist so we will also maintain dialogue with this association, the Chamber of Commerce and others, to ensure we are listening to your concerns and giving you the support you need to keep the wheels of our economy turning,” he added.

CISBA President Dawn McLean-Brady said the organisation intends to assist Caymanians in every phase of starting, growing and running a business, and its discussions with government include lobbying for further customs fees reductions, greater financing for start-up businesses and the need for government programmes to reduce the turnover rate of small businesses, notably start-ups.

CISBA also seeks help with proper business planning to launch and to run successful businesses, as well as better health insurance rates and structures for small businesses. 

Tags: Cayman Islands Small Business Association, Joey Hew

Category: Local Business