Survival byExample
Repeatedly nowadays, we hear from localbusiness folk how difficult it is to make ends meet, mainly owingto the sour state of the economy.
With the government's treasury falling more than six months behindin settling its outstanding bills which amount to several milliondollars, there is not much money in circulation these days. Thepreviously normal vibrancy of life fuelled by sturdy local purchasingpower is not with us for a short time only it is hoped.
The ludicrousness of this situation is compoundedby the continued preference of the principals of public and privatesector organizations who continue to make a considerable amountof purchases of goods and services overseas, when they are readilyavailable locally.
An example of this neglect of local enterprisecan be found in the tremendous amount of printing of forms andpublications, which are purchased by Government from overseassuppliers. In many countries, including just about every Caribbeannation, there is a Government printery responsible for the productionof stationery for official use.
While this may not be acceptable in termsof this day of privatization, it should be incumbent on Governmentto ensure that local suppliers have a fair shot at these businessopportunities. Such a level playing field could be created throughbidding. Given such fair play, local business owners are confidentof winning many of the contracts being issued by the administration.This will serve to ensure that the money going out of the treasuryremains in Cayman Islands, where it belongs.
On the other hand, it would be sensibleto establish a small print operation within the prison system,so that the inmates could learn a valuable trade while savingthe country a tremendous amount of money. An additional benefitin this regard would be that more inmates would be released backinto society with a skill that may take them comfortably throughlife.
Now on to another matter but still withinthe topic of keeping the money within the family for the bettermentof all:
It was suggested during a public meeting at the West Bay Primaryschool a few days ago, that a mandatory proviso should be thatas long as the public must pay for official travel by governmentpersonnel, those officials must fly on the National Flag Carrier,Cayman Airways. It may seem strange enough that such a stipulationhas to be made in the first instance. One would have expectedthat to be a foregone conclusion.
Doing business where one lives is not justa matter of charity beginning at home. It simply is a case ofsensible commitment which will have a sound and positive effecton our now brittle economy. Recovery depends on an approach inwhich we leave no stone unturned and miss no opportunity to keepthe money within these shores.
We all harbour the fear and often timesdiscuss the possibility that Cayman's protectionist actions couldcreate monopolies. Let us not confuse patriotic support especially in these times with senseless propping up ofincompetent local enterprise that offers a second-class service.
We must be aware that by not giving localbusinesses the opportunity to provide goods and services, thelarger companies will themselves grow into monopolistic positions,because unwittingly, the entrepreneurial spirit of the smallerbusiness folk could be broken which will ultimately lead to moreprice gouging to hurt an already burdened public saddled withthe task of seeing this economy through the tough times todayand as some are forecasting, in the months ahead.