Small Business
Premier pledges major cut in SME red tape
(CNS Business): The premier has committed to cutting the regulations that he said are hindering small businesses. Alden McLaughlin said that “ambitious, entrepreneurial Caymanians need encouragement, not the dead weight of government bureaucracy holding them back”, as he pledged to abolish at least 25% of small business regulations. “We will also introduce a tiered fee […]
Small businesses concerned over cost of finance
(CNS Business): The president of the Cayman Islands Small Business Association (CISBA) has said that financial institutions are setting up entrepreneurs for failure because of the cost of loans. This was one of a number of issues that Dawn McLean-Sawney raised with the new minister for commerce, Joey Hew, when he visited the offices recently.
Airport bid pushes out small businesses
(CNS Business): Some of the small business owners that are currently running retail concessions at Owen Roberts International Airport believe they are being pushed out of the bids for the new space. The Cayman Islands Small Business Association (CISBA) has accused the airport authority of creating a request for proposals with confusing paperwork, forcing bidders […]
Workshop offered on growing a business
(CNS Business): The Overseas Countries and Territories Association is hosting a workshop on business incubation and innovation on Friday, 30 June. Business incubators are firms that help new and start-up companies develop by providing services such as management training or office space, and are considered catalysts for regional or national economic development. The workshop is suitable […]
Minister signs deal to support small businesses
(CNS Business): The Cayman Islands Small Business Association (CISBA) has been contracted by the commerce ministry to help support and deliver certain small-business services. Minister Wayne Panton and CISBA President Dawn McLean-Sawney signed a memorandum of understanding recently to deliver workshops, mentoring, and consulting to small business owners. “This is another important step forward for government’s […]
Commerce ministry signs deal to support small businesses
(CNS Business): Government is aiming to produce an action plan within the next eight months to help make small and micro businesses in Cayman more viable. Following the signing of an MOU with Cayman Islands Small Business Association and the local Chamber of Commerce, Wayne Panton, the minister with responsibility, explained that the goal was […]
Street vendors get short reprieve ahead of fines
(CNS Business): Local tradespeople who have been selling souvenirs, coconuts or fruit, or renting beach chairs or snorkel kits without a trade and business licence on the streets of George Town, along Seven Mile Beach and at the West Bay dock have been given one more month to comply with the law before government starts […]
Pure tobacco cigarettes, made in Cayman
(CNS Business): A young Caymanian entrepreneur has begun manufacturing and selling cigarettes locally using pure tobacco imported from Kentucky with no additives. Cordell Gutierrez (23), who grew up on Cayman Brac, began selling his cigarette packages in December last year under the brand name Blacktip. The cigarettes are produced in a small factory in Prospect, […]
Key workshops available at small businesses expo
(CNS Business): Workshops on the new Trade and Business Licensing Law, the minimum wage and social media use are just some of the events taking place at the 2016 Small Business Expo next month at the University College of the Cayman Islands. Now in its fourth year, the event which was hosted by the Department […]
Business students practice skills on local firms
(CNS): A number of small-business owners are getting free consultations from business students at the University College of the Cayman Islands as they try out the lessons learned in the classroom in the real world. Now in its eighth year, the programme is a joint initiative between UCCI and the Ministry of Commerce. During the eight-week […]
Development bank offers loans to SMEs and public servants
(CNS Business): The Cayman Islands Development Bank (CIDB) has introduced two loan programmes, one designed for small- and medium-sized enterprises (SMEs) with proven track records for at least two years, and the other for public sector workers who want to consolidate their high-interest rate debt. Wayne Panton, the minister responsible for financial services and commerce, said […]
Business law to create equity for local commerce
(CNS): Revisions to the Trade and Business Licensing Law passed in the Legislative Assembly almost a year ago are expected to create a fairer environment for local commerce and increase compliance when the legislation is finally implemented next month. The main goal is to curtail illegal vending and make compliance easier, so the law offers […]
Chamber wins DCI workshop contract
(CNS Business): The Chamber of Commerce will be taking over the small business workshops that were being provided by the DCI, government officials have revealed almost a month after the contract was awarded following a tendering process. Government has not said how much it is worth or who else bid but the deal will now see […]
Small Business Association ready to lobby government
(CNS Business): Having finally, after seven years, obtained ‘non-profit organisation’ status, the Cayman Islands Small Business Association (CISBA) is now ready to re-energise its membership and to lobby government on behalf of small and micro businesses and the 17,000 or so people they employ. Among the items on its agenda is to advocate for tiered work […]
Micro business fee waiver extended for another year
(CNS Business): Owners of micro business or would-be entrepreneurs planning to start one can look forward to another year of reduced fees now that Cabinet has extended the waiver for very small businesses across all three islands, as well as the 50-75% reduction for small businesses. Commerce Minister Wayne Panton recently lauded the success of the […]
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