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YEAR IN REVIEW

2018


President’s Message CEO’s Message

Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018 | CONTENTS

.................................................................................................................................. 4

CEO’s Message

........................................................................................................................................................ 5

Our Strategies

.......................................................................................................................................................... 6

Communications

President’s Message

Membership Benefits

Our Strategies

Contents

Communications

.............................................................................................................................................. 8

Global Branding

................................................................................................................................................. 9

Training & Development

Global Branding

Membership Benefits ................................................................................................................................. 7

................................................................................................................ 11

............................................................................................................................. 18 .............................................................................

22

Events & Programmes

Treasurer’s Report and Financials

Chamber Champions

Chamber Champions

......................................................................................................... 16

PAGE PAGE 33

Treasurer’s & Financials

Community Development

Training & Development

Economic Growth ........................................................................................................................................... 14


President’s Message

PRESIDENT’S MESSAGE | Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018

PRESIDENT PAUL BYLES

Industry Engagement, Advocacy and Member Services Highlights of Year

Earlier this year the Chamber Council began implementing the Advocacy Agenda & Action Plan which outlines the work of the Chamber for the next three years (2018 – 2021). The Plan addresses four key areas which impact the membership, including Education, Employment & Workforce Development; Economic Growth & Diversification; Regulatory Efficiency; and Community Development. This year, the Chamber was able to make successful and significant progress in all these areas. In addition to the Careers Expo and Mentoring Cayman programme, the Chamber introduced the Summer Youth Work Experience Programme (SYWEP) to better bridge the worlds of the classroom and the workplace. The Golden Apple Awards was also brought back after a five-year hiatus to celebrate the outstanding educators driving our public and private schools. The Council also approved the establishment of the Chamber’s new Education Foundation, a new Chamber effort to bring together private sector support for various aspects of our education system, including promoting the teaching profession to encourage young Caymanians to pursue this most important profession. 2018 saw the Chamber and Government work closer than ever before to improve regulatory efficiencies and economic growth. In April, a series of Breakfast Briefings were held during which the Deputy Premier, Hon. Moses Kirkconnell and Hon. Tara Rivers provided updates on their respective Ministries and the opportunities for growth. The following month, the Hon. Roy McTaggart delivered the keynote speech at the Economic Forum, providing an indepth assessment of the Cayman Islands economy and future projections. He was joined by three different industry leaders, all of whom provided similar updates on the tourism, financial services, and real estate sectors. Focus groups and industry roundtables were also an emphasis of our regulatory efficiency efforts this year. In March, a roundtable discussion with leaders from the construction industry provided us with significant insight into the problems business owners and entrepreneurs are facing. We were able to use these comments and recommendations to develop a report that was subsequently presented to Caucus. An Immigration Working Group was also appointed under my authority, with the task of providing recommendations that would simplify the work permit fee schedule and categories. Similarly, a report of their findings and recommendations was developed and presented to Government. On the international advocacy front, the Chamber joined the Government on its trip to Great Festival of Innovation in Hong Kong, and used the opportunity to bridge relations with the Hong Kong General Chamber of Commerce. The Chamber strongly voiced its concern over the UK’s Public Beneficial

Ownership Registry action, effectively airing its concern and Cayman’s side of the story in several international publications. President Byles also worked closely with various government committees on a number of policy matters ranging from beneficial ownership to the EU economic substance working groups as well as providing significant input on the Governments initiative to establish an international office in Asia. Several Chamber Council representatives continued to support a wide range of Government led and appointed committees and statutory bodies, including the WORC Advisory Board, and the Boards of the Cayman Turtle Centre and Port Authority. Community Development is another key focus of the Chamber’s work, and the overwhelming success and support of this year’s Earth Day Clean-up contributed greatly to our community efforts. We also began the process of developing an anti-littering campaign, and we hope to have this implemented in time for the 2019 roadside and beach clean-up. The Chamber has expressed its concern for rising crime levels for the past few years, and this year the Council worked closely with the RCIPS to discuss ways in which the Chamber can assist. As part of our supportive efforts, the Chamber participated in the Firearms Amnesty which allowed those in possession of an illegal firearm to hand them in with no legal repercussions. The initiative was a success, with dozens of firearms and hundreds of rounds of ammunitions turned over. This year the Chamber also re-energised its focus on value added services and events for our membership. Our 2nd Business Excellence Awards provided an opportunity to recognise excellence across various types and sizes of business, while the Golden Apple Awards provided an opportunity for our members to show their appreciation for those working within our education system. An inaugural trip to China proved a huge success with nearly 80 individuals signing up for a 10-day trip to one of the world’s most fascinating countries. The first full year implementing the strategies outlined in the Advocacy Agenda & Action Plan has been a great success, and it is encouraging to see so many projects and initiatives making a positive and significant difference in the community. I am certain that the Council will continue to successfully implement these strategies for the betterment of the membership and the wider community. I would like to thank you, our members, for your support over the past year. I will continue to work closely with the Chamber moving forward to ensure that your voices are heard. I encourage you to continue to support the Chamber of Commerce moving forward, as they will ensure you receive the support you deserve.


Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018 | CEO’S MESSAGE

CEO WIL PINEAU, CCE

CEO’s Message

Golden Apple Awards and China Trip top off a Year of Celebration and Development

The Chamber continued to develop and expand member services, programmes and community events and advocacy activities in 2018. Our flagship events were some of the most successful the Leadership Cayman programmes, with dozens of individuals Chamber has ever held, with record numbers being set at the benefitting over the course of the year. Mentoring Cayman was annual Earth Day Clean-up and the returning Golden Apple expanded to include more careers and educational workshops, Awards for Excellence in Teaching. Hundreds of students learnt and even included a trip to the state-of-the-art Health City. more about their career and educational opportunities whilst Leadership Cayman, meanwhile, continued to develop the attending the Careers, Education and Training Expo, and the Golf leadership skills of professionals in our community, supporting Classic brought dozens of businesses together for some essential the Big Brothers Big Sisters programme in the process at part of the class project. Special thanks to Pamela Ebanks-Small for networking in the glorious sunshine at North Sound Golf Club. The Golden Apple Awards for Excellence in Teaching was the serving as the volunteer chair for Leadership Cayman this year. highlight of the year, having returned after a five-year hiatus. She did an outstanding job! A dozen educators were recognised for their outstanding achievements and contributions to local public and private schools, and for shaping the leaders of tomorrow in the classroom. Congratulations to all the teachers awarded on the night, and to Mrs. Nimmi Sekhar for receiving the Lifetime Achievement Award. Teachers were not the only ones recognised this year, as the Business Excellence Awards continued to celebrate the life-changing and enriching projects and initiatives of local businesses. This year the awards recognised the first ever Entrepreneur of the Year, Lindsay Allen, owner of Island Naturals. Congratulations to Lindsay and her hard-working team. Past President Keith Parker Tibbetts Jr. received a much-deserved Lifetime Achievement in Business Award at the event for his contributions to the Chamber, business and the community. Personal and professional development remains a key focus of the Chamber, and this year the Professional Development & Training Centre and Small Business Workshops offered a comprehensive range of courses, with thousands of entrepreneurs and professionals attending. This year we were supported by overseas facilitators from the COSME organisation too, sharing their knowledge with us and bringing in outside perspectives.

The Chamber tries its best to communicate with its membership and the wider community, and this year we invested in sophisticated equipment to improve our services. The investment in the ‘Mevo’ camera allowed us to stream small business workshops and member events live on Facebook, YouTube and Twitter, ensuring all members could tune in, even if they couldn’t attend in person. One of the highlights of the year was the trip to China by a Chamber delegation of 79 persons. The group visited Beijing, Shanghai, Xi’an, Hangzhou and Suzhou and some of China’s top attractions including the Great Wall and the Forbidden City. It was the first trip of its kind organised by the Chamber. Based on its success, other trips will be planned. None of this year’s achievements would have been possible without the support of the membership, the leadership of the elected Council, and the dedicated and hardworking staff including Kerry Pratt, Ross Taylor, Nikita Durrant, Marilyn Whittaker, Carolina Watler, Lennon Christian and Susan FlemingKerford. The Chamber of Commerce is an essential business and community partner in the Cayman Islands. Together, we will continue to be catalysts for positive change.

Development was also encouraged through the Mentoring and

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OUR STRATEGIES | Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018

Our Strategies

Our Strategies

The Council worked to implement the Advocacy Agenda & Action Plan (2018-2021)

In order to deliver the high-standard of support and care that you expect of us, we have several strategies and ideologies that we follow. This includes our mission to support, promote and protect all members, and our vision to be the catalyst for positive change in the business community. We also have specific strategies and initiatives that we follow to better understand your needs and address your concerns, including: Advocacy Agenda & Action Plan

Focus Groups

There is no better way to understand your concerns than In order to more clearly identify our advocacy efforts for the future, the Chamber Council completed work on a three-year through our focus groups, in which we invite members to Advocacy Agenda & Action Plan for 2018-2021 this year. our offices and discuss topics pertinent to your businesses and success. This living document shows the actions we are taking to meet our set objectives on a range of different areas of concern, including: • Community Development • Economic Growth & Diversification • Education, Employment & Workforce Development • Regulatory Efficiencies This plan of action was distributed to members and presented to government ministers, including the Premier, and elected officials is available to read in its entirety on www.caymanchamber.ky. Work has been carried out on most of the action items in the plan this year and will continue into 2019.

This year, in partnership with the Cayman Contractors Association, we held an in-depth focus group to discuss the issues facing this important industry sector. We used our findings to create a report which was presented to the Minster for Commerce, Planning and Infrastructure and Government, and this can be accessed by visiting www.caymanchamber.ky. Salary Surveys Our salary survey is an essential tool for businesses to assess their care and support of employees, and these can be purchased from us at any time. This survey contains vital information for all businesses, and we highly recommend all business owners and managers to use this as a guide. The surveys are reasonably priced, and those interested in purchasing a copy can contact our Operations Manager, Kerry Pratt at Kerry.pratt@caymanchamber.ky.

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Members will receive brand recognition they may not achieve otherwise, with the Chamber praising and acknowledging through the directory, press releases, flagship events, and more. The Chamber encourages all members to send us their breaking news press releases so that we can share them with our social media followers and newsletter recipients. They can save money with the Chamber Discount Programme, giving them fantastic deals at restaurants, bars, car dealerships, salons, spas, entertainment attractions, and far more throughout the Islands. Over 20,000 of these cards are in circulation, saving members and their employees hundreds or thousands of dollars each year.

Members also save money at the Professional Development & Training Centre, benefitting from some phenomenal discounts on already affordably priced training courses. They can also hire out the Chamber’s spacious and well-fitted conference room for discounted prices. Gone are the days of location-scouting headaches, as the conference room has everything members might need. The Chamber also invites its members to information luncheons and speed networking sessions, the latter of which give members a fantastic opportunity to showcase their brand to their peers in an entertaining and engaging quick-fire format. Our information luncheons and BE INFORMED sessions also provide them with vital information about the Chamber itself and changes to the Cayman Islands, meaning we are always on hand to inform, support and protect them. Free Small Business Workshops are held monthly and address topics that improve the performance and increase sales.

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Joining the Chamber membership is quick, easy, and affordable. Our membership of 600+ members is continuously growing, and 2018 showed that it was stronger than ever. We continue to attract new businesses with our services, and 2019 will be no different. PAGE 7

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COMMUNICATIONS | Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018

Communications New communication strategies improve membership connectivity The most important thing the Chamber does is to communicate with you, our members. As such, we are always trying to improve our methods of contact so that we can reach you in the most effective way possible. For your information, we received a total of 91,898 emails, distributed 232 e-blasts to promote our programmes, events and activities and our main website received 62,126 unique visitors from 198 countries and 3,256 views on our You Tube channel. This year, we invested more into communications to reach you wherever and whenever possible!

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Mevo Camera One of the most exciting items we invested in this year was the Mevo camera, a tool that allows you to stream any meeting, session or workshop live on Facebook, YouTube and Twitter. The camera allows members and the wider community to tune in to key and educational events, even if they can’t attend in person. So far, we’ve streamed almost an entire series of small business workshops, multiple member luncheons, and BE INFORMED sessions, all for your benefit. Social media The Chamber’s Facebook, Twitter and You Tube accounts were active throughout the year as we attempted to keep you informed about events, activities and advocacy matters. Thousands of interactions took place and we posted regular updates, boosting key items that were intended to capture your attention.

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Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018 | GLOBAL BRANDING

Establishing Trade Relationships and Connections with Other Countries The Chamber of Commerce remained vocal not only at a domestic level, but also on a wider, international scale. From the Council to the membership, the Chamber was represented across the globe in 2019. Here a few examples. GREAT Festival of Innovation

Global Branding

President Paul Byles and CEO Wil Pineau, CCE joined a delegation of Government officials – including the Premier, Hon. Alden McLaughlin – for the GREAT Festival of Innovation held in Hong Kong. The four-day festival looked at a range of innovative business practices and products in different areas of life, from education and work, to tourism and luxury. The pair also met with the Hong Kong General Chamber of Commerce to discuss possible collaborative efforts in the future.

President Byles and CEO Pineau established formal connections with the HKGCC.

Discover China We travelled back to the Far East again in October, taking 79 members of the Cayman Islands community with us for the Discover China trip. The adventure saw the group visit some of the most famous wonders of the world, including the Great Wall of China, Tiananmen Square and the Forbidden City. The 11-day trip was the first expedition of its kind to be held by the Chamber, and it allowed members to experience a new culture at an incredibly affordable price. In 2019, members and guests will experience the wonders of the land of the pyramids and a Nile River cruise in Egypt in October. The Great Wall was one of the stops on the Discover China trip.

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GLOBAL BRANDING | Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018

Discover China delegates visited five cities and numerous historic sites during the trip.

ACCE Conference

Global Branding

The CEO attended Association of Chamber of Commerce Executives (ACCE) annual conference. Mr. Pineau travelled to Des Moines, Iowa for the annual convention where he liaised with other Chambers to discuss best practices, economic development strategies, business development, innovative programmes, services and benefits being offered by Chambers, and much more. Canadian Trade connections

CEO Pineau works to improve trade and investment links with Canadian firms.

PAGE 10

Chamber CEO Wil Pineau, CCE met with Richard York, Senior Trade Commissioner from the High Commission of Canada (based in Jamaica) to discuss ways to promote increased trade relations between Cayman- and Canadian-based companies. Canada is focusing its trade efforts in the region in four main areas: Clean Technology, Infrastructure development, Education promotion and Information, Communications Technology (ICT). Canada has allocated $2.6 billion in funding for projects internationally that focus on climate change and adaptation. These funds are managed through the World Bank in partnership with the Caribbean Development Bank and the Inter Development Bank. Plans were discussed to host a roundtable event early in 2019 to showcase Canadian products as well as to promote Canadian schools.


Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018 | TRAINING & DEVELOPMENT

Education, Employment and Workforce Development Education Foundation established to assist schools and teachers The first pillar of our Advocacy Agenda & Action Plan is Education, Employment & Workforce Development. For the Cayman Islands to grow into a global leader, we must ensure that we have suitable leadership. The key focuses of this pillar include: • Strengthening relationships between students and businesses • Improving early school intervention in numeracy and literacy • Enhancing vocational and technical training initiatives Here’s what the Chamber achieved for education and employment in 2018:

Training & Development

The Chamber launched the Summer Youth Work Experience Programme in 2018.

Chamber of Commerce Education Foundation Enhancing education in the Cayman Islands is a key focus of the Chamber’s advocacy agenda. One strategy to support education and the teaching profession introduced in 2018 was the establishment of the Chamber of Commerce Education Foundation. The Foundation will generate and distribute resources to schools for programmes and projects that enhance the quality of education and will focus on teacher recognition and training. A volunteer board of directors comprising business, community and education leaders will be established in 2019. Mentoring Cayman benefited more than 40 students in 2018.

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TRAINING & DEVELOPMENT | Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018

SMALL BUSINESS WORKSHOPS

TOTAL NUMBER OF REGISTRANTS

216

TRAINING COURSES TOTAL NUMBER COURSES

TOTAL NUMBER OF REGISTRANTS

49

568

TOTAL NUMBER WORKSHOPS

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AVERAGE NUMBER OF REGISTRANTS PER WORKSHOP

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Careers, Education & Training Expo

Training & Development

The annual Careers, Education & Training Expo brought over 500 students to UCCI’s Sir Vassel Johnson Hall to learn more about the educational and career opportunities available to them after graduation. Over 30 member-businesses and organisations took part in the Expo, promoting the various internship, scholarship and career prospects they offer. Number of Supporting Members: 32 Number of students in attendance: 500+

NUMBER OF SPONSORS: 32

NUMBER OF STUDENTS IN ATTENDANCE: 500+

High school students interacted with more than 30 exhibitors.

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Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018 | TRAINING & DEVELOPMENT

Golden Apple Awards for Excellence in Teaching After a five-year hiatus, the Golden Apple Awards returned in May to celebrate the outstanding achievements of six influential educators. The event was run in partnership with the Ministry of Education, Youth, Sports, Agriculture & Lands, with over 200 guests in attendance. The awards will return in 2019. Primary School Teacher in a Public School: Shakeina Bush (Sir John A. Cumber Primary School) Primary School Teacher in a Private School: Emily Garvey (St. Ignatius Catholic School) High School Teacher in a Public School: Patrice DouglasHanson (John Gray High School) High School Teacher in a Private School: Coaine Richards (St. Ignatius Catholic School) Principal in a Public or Private School: Marcia Rennie (Edna M. Moyle Primary School) Lifetime Achievement Award: Nimmi Sekhar (Cayman International School) Summer Youth Work Experience Programme

Cayman Careers Video Series

2018 was the inaugural year for the Summer Youth Work Experience Programme (SYWEP) which was designed to partner high-school students with local businesses for a minimum period of two weeks during the months of July and August. The programme saw five high-achieving students partnered with successful local businesses.

Partnering with UCCI, the Chamber developed the ‘Cayman Careers’ video series, which saw young professionals promote a range of vocational and technical careers. The first three videos in the series were produced with assistance from students at UCCI, with representatives of Pooley Cabinets and Corporate Electric promoting their vocational professions. The series will expand in 2019.

Mentoring Cayman

School Awards

The Chamber partnered with the Ministry of Education, Youth, Sports, Agriculture and Lands to once again run the Mentoring Cayman programme for high-achieving students. Students were partnered with private and public sector leaders to acquire new skills and learn more about the world of work. Students also engaged in numerous social and educational events, including a careers workshop, a catamaran cruise, and a field-trip to Health City.

The Chamber supported the high school awards of four public and private schools, including John Gray, St. Ignatius Catholic School, Triple C, and Clifton Hunter. The Chamber also supported the highest-achieving student at the Truman Bodden Law School.

NUMBER OF MENTORS: 42

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Training & Development

President Byles presented the Lifetime Achievement in Education Award to Nimmi Sekhar.


ECONOMIC GROWTH | Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018

Encouraging Economic Growth is Essential for Cayman’s Future The second pillar of our Advocacy Agenda & Action Plan is Economic Growth & Diversification. As the ‘Growth Matters’ campaign last year explained, economic growth is vital to the development of our Islands and the community, and as such should be championed by the private and public sectors. As the Chamber of Commerce, we felt it was our duty to be a leading voice for the promotion of economic growth, especially in these areas: •

Working with partners to innovate, grow and diversify the economy

Supporting the development of micro-and-small businesses

Here’s what the Chamber achieved for Economic Growth & Diversification in 2018:

The tourism panel included representatives from CITA (Theresa Broderick), the Ritz Carlton Grand Cayman (Mark Langevin), Department of Tourism (Oneisha Richards) and Dart (Pilar Bush).

Economic Forum Economic Growth

In May, the Chamber partnered with the Ministry of Finance and Economic Development to host an Economic Forum at the Kimpton Seafire Resort + Spa. The forum included a keynote presentation from the Hon. Roy McTaggart (Minister for Finance and Economic Development), and presentations from key industry leaders, including Mr. Tony Catalanotto (Treasurer, Cayman Islands Real Estate Brokers Association), Mr. Jude Scott (CEO, Cayman Finance), and Mrs. Theresa LeacockBroderick (President, Cayman Islands Tourism Association). Minister McTaggart provided attendees with an update on the Cayman Islands economy, discussing its current performance and projections for the next several years. The other speakers addressed the current state of their industries, identified the opportunities for growth within the sector, and listed the challenges that businesses within the industry will face moving forward. The Forum was supported by BDO, Cayman First and JN Money Services, and will return in 2019. PAGE 14

The Ministry of Finance and Economic Development and the Chamber hosted an Economic Forum in April.


Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018 | ECONOMIC GROWTH

Breakfast Briefings Alongside the Economic Forum, we also held a series of Breakfast Briefings for the first time. In April we held two briefings for the tourism and financial services industry at the Grand Cayman Marriott Beach Resort. The Hon. Tara Rivers (Minister for Financial Services and Home Affairs) and the Hon. Moses Kirkconnell (Deputy Premier and Minister for District Administration, Tourism and Transport) were the keynote speakers for these briefings, providing members with an update on their respective industries, and their plans for future development.

Small Business Workshops

Business Coaching and Small Business Centre

The Chamber renewed the partnership with the Ministry of Commerce to continue running free Small Business Workshops for the community, holding one workshop per month for the benefit of small businesses and entrepreneurs. The workshops covered a range of different topics, from improving customer experiences and online services, to boosting profits and utilising new technologies. For the first-time ever, these workshops were streamed live on Facebook and recorded for YouTube, allowing the workshops to reach a wider audience than ever before.

Members of the Chamber Council joined appointed business leaders to develop the Small Business Centre. The group worked throughout the year to create a new Business Coaching Initiative that will aid members and entrepreneurs. The initiative is in the final stages of development and should be ready for implementation in the early stages of 2019.

PAGE 15

Economic Growth

Breakfast briefings provided industry representatives from update on the issues impacting Cayman's two main sectors.


COMMUNITY DEVELOPMENT | Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018

Community Development Improved Collaboration Enhances Community Development The final key part of our Advocacy Agenda & Action Plan was that of Community Development. The Chamber focused on three specific areas for supporting the community, including: •

Supporting beautification and environmental awareness initiatives

Advocating for an increase in crime prevention initiatives

Improving collaboration with industry associations, NGOs and community groups

Here’s what the Chamber achieved for the community in 2018.

Earth Day Clean-up

NUMBER OF VOLUNTEERS: 2,308

After the most successful Earth Day ever in 2017, more records were broken in 2018, with 150 clean-up teams joining in the efforts. Volunteers donned Guy Harvey designed shirts to collect thousands of bags of trash, whilst volunteers of Plastic Free Cayman’s team removed 400lbs of trash from mangroves around the Island.

NUMBER OF CLEAN-UP TEAMS: 118

Number of Volunteers: 2000+ Number of Clean-up Teams: 118 Number of Sponsors: 29

Community Development The Earth Day Cleanup is the Chamber's largest community event held each year.

PAGE 16

NUMBER OF SPONSORS: 29


Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018 | COMMUNITY DEVELOPMENT

Firearms Amnesty The Chamber of Commerce partnered with the RCIPS, the Cayman Ministers Association (CMA) and Cayman Crime Stoppers to run the Firearms Amnesty programme. The initiative provided individuals with an opportunity to hand over illegal firearms with no legal repercussions. Chamber members offered gift vouchers as an extra incentive for individuals to hand in their firearms, and as of July 4, 2018, 18 guns and 896 rounds of ammunition were handed in. Meeting with the Commissioner of Police

Community Development

Secretary Roz Griffiths and President Byles presented the Chamber's Advocacy Agenda and Action Plan to Commissioner Byrne.

The Chamber Council’s Executive Committee met with the Commissioner of Police, Mr. Derek Byrne to discuss strategies for crime prevention. The Council discussed at length the reintroduction of Neighbourhood Watch programmes in each of the 17 districts, support for the police awards programme to recognise outstanding law enforcers in the community, and increased policing presence on roads and streets. The Chamber will continue to work alongside the RCIPS to implement new strategies in 2019.

Lunch Meeting with Industry Associations President Paul Byles, CEO Wil Pineau and members of the Council invited the heads of the various industry associations to lunch to discuss ways to improve communications and collaboration. The Cayman Islands Real Estate Brokers Association, Cayman Islands Tourism Association, Insurance Managers of Cayman, Cayman Finance, Cayman Islands Bankers Association and the Fund Managers Association attended the meeting. One of the results of the meeting was the active participation of the associations in the Economic Forum which was organised by the Chamber in partnership with the Ministry of Finance and Economic Development. PAGE 17


CHAMBER CHAMPIONS | Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018

Chamber Champions Our Chamber Champions are members who have gone above-and-beyond the call of duty, providing generous support of our efforts. These members have contributed greatly to our comprehensive range of events, programmes and support services. We would like to thank all these members for their outstanding support, and we look forward to working alongside them again in 2019.

CHAMBER ADVOCATES

CHAMBER ADVISORS

CHAMBER STEWARDS

CHAMBER SUPPORTERS Chamber Advocate These members generously contributed to the Chamber of Commerce over the last year. The following Advocates invested $10,000 or more. Cayman National Corporation for utilising our Professional Development

EisnerAmper: for assisting us with our annual audit for yet another

and Training Centre, sponsoring Earth Day

year at no cost and sponsoring a

Roadside Clean-up, Leadership Cayman,

corporate table at the Legislative

Fraud Prevention Seminar, Golden Apple

Luncheon.

Awards for Excellence in Teaching and Business Excellence Awards. Cayman Turtle Centre: for utilising our Professional Development & Training

Kirk Freeport Ltd.: for serving as our Diamond Sponsor once again for the Chamber Golf Classic, donating a selection of high-end watches and

Centre, and for supporting our Earth Day

gift certificates as prizes for lucky

Roadside Clean-up and the Legislative

golfers.

Luncheon. DART: for supporting several of our major

Michael Armand Hammer and Hammer Foundation for serving

Chamber Champions

events including the Careers, Education &

as one of the main sponsors for the

Training Expo, Earth Day Clean-up, Golden

Golden Apple Awards for Excellence

Apple Awards for Excellence in Teaching,

in Teaching.

Business Excellence Awards, Legislative Luncheon and for utilising our Professional Development and Training Centre. Deloitte for sponsoring Leadership Cayman, Legislative Luncheon, Business Excellence Awards and Careers, Education and Training Expo.

PAGE 18

Yello Media Group: for serving as our reception sponsor at the second annual Business Excellence Awards, a sponsor for the Golden Apple Awards for Excellence in Teaching, a sponsor for the annual Earth Day Clean-up.


Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018 | CHAMBER CHAMPIONS

Immediate Past President Kyle Broadhurst presented Chamber Champion Awards in 2017 to Yello Media Group (Simon Stewart-Jones) (left) and Kirk Freeport Ltd. (Chris Kirkconnell) (right). Both companies will be recognised again in 2018.

Chamber Advisors The following members contributed between $7,500 and $9,999 to the Chamber of Commerce in 2018. Kensington Management Group Ltd. for sponsoring Earth Day Clean-

Mentoring Cayman, Golden Apple

up, Business Excellence Awards,

Awards for Excellence in Teaching

Golden Apple Awards for Excellence

and Business Excellence Awards.

in Teaching, Chamber Golf Classic

Caribbean Utilities Company Ltd. for sponsoring the Careers Education and Training Expo, Legislative Luncheon, Earth Day Clean-up, Golden Apple Awards for Excellence

and utilising the Professional Development and Training Centre for specialised courses. RBC Royal Bank (Cayman) Ltd.: for being a major sponsor of Leadership

in Teaching and utilising advertising

Cayman programme, Earth Day

opportunities.

Clean-up and for sponsoring various

Cox Lumber: for supporting both of our flagship programmes, serving as the title sponsor for Leadership

events and initiatives throughout the year.

Cayman and as a partner for the

Walkers: for supporting the Careers, Education & Training Expo, serving

Mentoring Cayman programme.

as a Gold Sponsor for the Chamber

Both were an absolute success, with

Golf Classic, sponsoring Leadership

hundreds of students and leaders

Cayman and Earth Day Clean-

developing their skills. They also

up and utilising our Professional

sponsored the Business Excellence

Development & Training Centre.

Chamber Champions

Caribbean Alliance Insurance Company Ltd. for sponsoring

Awards.

PAGE 19


CHAMBER CHAMPIONS | Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018

Chamber Stewards The following members contributed between $5,000 and $7,499 to the Chamber of Commerce in 2018. Appleby (Cayman) Ltd for sponsoring

Kirk Office for supporting the Golden

a booth at the Careers, Education &

Apple Awards for Excellence in Teaching,

Training Expo, and for supporting other

Chamber Golf Classic, Chamber high

events including the Legislative Luncheon

school achievement awards and utilising

and other itiatives throughout the year.

the Professional Development and Training

British Caymanian Insurance for supporting the Business Excellence Awards and for enrolling staff in the Professional Development and Training Centre. Broadhurst LLC for supporting the Golf Classic, Golden Apple Awards for Excellence in Teaching and the Business Excellence Awards. Burger King/Burger Holdings for utilising the Chamber’s advertising opportunities on the desktop calendar and website. Butterfield Bank (Cayman) Ltd. for

Centre. KPMG for supporting the Leadership Cayman programme by sponsoring two seminars, for supporting the Earth Day Clean-up, Legislative Luncheon and other initiatives. Maples and Calder for being a major sponsor for the Careers, Education and Training Expo and reserving a table at the Legislative Luncheon. Mourant Ozannes for sponsoring the Chamber Golf Classic, Legislative Luncheon and for consistently attending training

serving as a major sponsor for the Careers,

sessions at our Professional Development &

Education & Training Expo, Earth Day

Training Centre throughout the year.

Clean-up and reserving a corporate table at the Legislative Luncheon. Cayman First Insurance Company for supporting Leadership Cayman, the Economic Forum, Earth Day Clean-up and utilising the Professional Development and Training Centre. Cayman Islands National Insurance Company (CINICO) for utilising the Professional Development and Training Centre for staff development. Davenport Development Ltd.

Chamber Champions

for reserving a corporate table at the Legislative Luncheon and for utilising our training and advertising opportunities. Greenlight RE for being the class project sponsor for Leadership Cayman and supporting the Earth Day Clean-up. Island Heritage Insurance Company for utilising the Professional Development and Training Centre and advertising on the Chamber’s Desktop Calendar.

PAGE 20

Picture This Studios for providing photography services for the Golden Apple Awards for Teaching Excellence and the Business Excellence Awards. Provenance Properties Cayman Islands for being the Platinum sponsor for the Chamber Golf Classic. Saxon Insurance for utilising our comprehensive advertising opportunities, including banners on the www.caymanchamber.ky website and the Desktop Calendar. Strategic Risk Solutions for supporting the Chamber Golf Classic, Earth Day Cleanup and Leadership Cayman. Water Authority Cayman for hosting a Business After Hours, advertising on the desktop calendar, and sponsoring the Careers, Education and Training Expo.


Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018 | CHAMBER CHAMPIONS

Chamber Supporters The following members contributed between $1,000 and $4,999 to the Chamber of Commerce in 2018.

Creative Tech Ltd.

MUFG Alternative Fund Services

Advance Automotive

CTMH Doctors Hospital

AndroGroup Ltd.

Davenport Development Ltd.

NCB Group

Anytime Fitness

Department of Tourism

Office Supply Ltd.

Appleby (Cayman) Ltd.

DHL International (Cayman) Ltd.

Ogier

Athena International Management Ltd.

Digicel (Cayman) Ltd.

Onetradex Ltd

Bacaro

Edie’s Decor Ltd.

Pestkil Ltd.

BDO

FTS

Phoenix Ltd.

Blacktower Financial Management

G.T. Automotive Imports Ltd.

Pinnacle Media Group Ltd.

G.T. Automotive Ltd.

Platinum Group Ltd. t/a Liftech

Guy Harvey Studios Ltd.

Progressive Distributors

Health City Cayman Islands

PwC

Car Boutique Ltd./Tony’s Toys

Holiday Inn Resort, Grand Cayman

Queensgate Bank & Trust Company

Carey Olsen

Home Gas Ltd.

Rawlinson & Hunter

Caribbean Marine Services Ltd.

International College of the Cayman

RE/MAX Cayman Islands

(International) Ltd Cable & Wireless (Cayman Islands) Ltd.

- Flow|C&W Business

Cayman Cost-U-Less Ltd. Cayman Distributors, Ltd. Cayman Finance Ltd. Cayman International School Cayman Islands Institute of

Professional Accountants Cayman Islands Sotheby’s

International Realty

Islands Int’l Healthcare Solutions Ltd./

Generali Worldwide Island Heritage Insurance Company,

Ltd.

(Cayman) Limited

RiskPass AML & Compliance Ltd. Rocky’s Diamond Gallery Sackville Bank Limited Saxon Insurance Security Centre Limited

Island Paving (1985) Ltd.

Solomon Harris

Island Taste Group Ltd.

Square Peg Ltd.

Island Waste Carriers Ltd.

SteppingStones Recruitment/Training

Cayman Prep and High School

JN Money Services (Cayman) Ltd.

Cayman Registry

Kimpton Seafire Resort & Spa

Subway

Chamber Pension Plan

Kirk Freeport Ltd.

The London & Amsterdam Trust

Chatterbox - Connecting Therapy &

Kirk Market

Education CIBC-FirstCaribbean International

Bank

Knighthead Annuity & Life Assurance

L.E.A.P. Diversify Cayman Ltd. Liberty Consulting Ltd

& Development

Company Ltd. The Ritz Carlton Grand Cayman Titan Development Ltd. Tourism Attractions Board Cayman

CICSA Credit Union

Logic

CML Offshore Recruitment

Mini Warehouse II Ltd.

Travers Thorp Alberga

Consolidated Water Company Ltd.

Miracle Brokers International

Wyndham Reef Resort Grand Cayman

Islands

Corporate Electric Ltd.

PAGE 21

Chamber Champions

A.L. Thompson Building Supplies Ltd.


TREASURERS REPORT | Cayman Islands CHAMBER OF COMMERCE YEAR IN REVIEW 2018

TREASURER COLIN ROBINSON

Positive Financial Performance Increases Members Equity in 2017

I am pleased to be able to report that a review of the financial statements of your Chamber for the calendar year ended December 2017 indicates a surplus for the year of $43,828. Compared to the prior period, this result is a slight decline over 2016 and is primarily attributable to the golf tournament being cancelled for 2017 and two tourneys being held during 2016. The knock-on effect of this is that looking ahead to the 2018 financial results, there will be the inclusion of additional revenue as two tournaments were held during 2018. Turning to page 6 of the audited financial statements, you will note that total income at $865,684 was lower than the prior period. Removing the impact of the golf tourney revenue in 2016, you will see that revenue is $5,308 higher than in the prior year. Adjusting for the impact of expenses associated with fundraising, total expenditures of $821,856 compare favourably with the $838,292 recorded in 2016. Due to the income recorded in 2017, members’ equity, as shown on page 5, increased to $460,819 as at December 31, 2017 from $416,991 as at December 31, 2016. Financial highlights are as follows; •

Membership dues income for the year showed an increase of 3.3% from 2016 at $337,229. Membership retention rates remain strong with more than 93% of existing members renewing in 2017.

Net programme income (after the deduction of programme expenditure) represented, at $113,619, an increase of $7,235 over the previous year.

Net income from training courses totaled $63,482 which represented an increase of $11,408 over the previous year.

Net income from publications contributed $22,866 to our bottom line in 2017.

Treasurer’s & Financials

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Rental income totaled $55,962 compared to a previous year total of $53,845. We are also pleased to state that the lease for the Chamber office has been extended for a further five years and thank the Ministry of Finance for waiving the stamp duty that otherwise would have been required.

Salaries & benefits of Chamber staff increased from $352,099 in 2016 to $384,415 in 2017.

2017 was another successful year for your Chamber, not only from a financial viewpoint but also from the myriad of services and programmes that we continue to offer to our Members. While this is only my first year as your Treasurer, it is clear to me that the enthusiasm of your Council, the hard work and dedication of your CEO, Wil Pineau, and the Chamber staff all lead directly to those continued positive results. I would like to thank all of you, our members, for your continued support over this last year and I would encourage members to support the Chamber in its programmes, training courses, special events and fundraisers in 2019 so that we can continue the implementation of our advocacy agenda and to ensure that the Chamber retains its pre-eminent position in the Cayman Islands’ business community. In closing, two very big Thank You’s, to Wil and our Chamber staff for their dedication, hard work & enthusiasm and to EisnerAmper, for providing us with yet again an excellent, pro bono audit.


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Unit 4-107 107 Governors Square 23 Lime Treey Bay Avenue West Bay Road P.O. Box 1000 Grand Cayman KY1-1102 T: 345 949 8090 E: info@caymanchamber.ky www.caymanchamber.ky 16

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2018 Year in Review  

Cayman Islands Chamber of Commerce 2018 Year in Review

2018 Year in Review  

Cayman Islands Chamber of Commerce 2018 Year in Review

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