Calling small businesses the backbone of Cayman’s economy, CISBA President Dawn McLean-Brady said they were a key driver of the economy, creating jobs and bringing innovative new products to market. She was especially pleased to see the solid turnout of members to this annual event, which has gradually grown in size and stature each year it has been put on.

“Working with the Ministry and with sponsorship from Hurley’s Media, we promised that we would grow from strength to strength. This is the largest number of exhibitors we’ve had, with almost 39 exhibitors and a myriad of different businesses with only three from last year, so almost all new businesses. So, we are excited about that,” Ms McLean-Brady said.

Joey Hew, Minister of Commerce, Planning and Infrastructure, said his Ministry could see the results of working with the CISBA but also in some of the programmes that they’ve put on over the years as well.

“The Ministry and the Government will continue to focus on small businesses as that’s one of our mandates and we will continue our relationship with CISBA,” he confirmed.

To illustrate its commitment to small businesses, Minister Hew said the Government was very close to opening its small business development centre.

“Through that centre we will be able to offer services to small businesses from accounting to legal services and advice on growing your business and we are talking with the private lending institutions because we know financing is one of the greatest challenges or greatest hurdles for a small business,” Minister Hew said. “Once persons have been through the programme at the small business development centre it will be easier for them to receive financing from some of the lending institutions.”

He said that the Government was also looking at other ideas such as government-guaranteed financing for clients of the small business centre. He confirmed that the centre’s offices should be open at the end of the year.

“People can come in and receive support from the staff at the centre and from there we will continue to work in partnership with the CISBA, the Cayman Islands Chamber of Commerce and the University (UCCI) with which we’ve already started that relationship. They will play an integral role in the small business development centre.”

“The Ministry of Commerce and Minister Hew has always been extremely supportive. Hurley’s Media has been amazing helping us sell all the booths and C3 has come on as a partner, as well as Bank of Butterfield and the Caymanian Times, while Marcus from Abacus was amazing at our social. We had about 100 people come out. We encourage everyone to come and join the CISBA because the larger number the bigger the voice,” she said.

As well as featuring booths and exhibits from several small and micro business owners, the expo, which was free to the public, also offered a number of workshops open to business owners.