Jean Bacchus - Outgoing Executive Director, GCCI

2008 was a year of great success and achievement for the Georgetown Chamber of Commerce and Industry (the Chamber). In April, under the distinct leadership of the then President, Col. (ret’d), the Chamber planned and crafted its first ever Five Year Strategic Plan. In July Council ratified the Plan which was subsequently launched and implemented in August 2008.

• Strategic Plan
• The Chamber Plan sets out
• Business Luncheons & Dinner
• Lunchtime Business Presentation
• Capacity Building
• Public Information
• Newsletters

Between January and November, the Chamber produced three Newsletters: January to March; April to June and July to November. Through the Newsletters, the Chamber informs its members of planned activities and report on what has been accomplished.

Press Release

During the period under review, the Chamber issued the following press statements.

• January: GCCI condemns Lusignan Massacre
• May: Proceedings of the Chamber’s 118th AGM
• June: Removal of Asbestos – safety and health of workers must be protected

Stabroek News Business Column

The Chamber used the Stabroek Business Column to enhance the business community and Human Resources issues which were likely to impact on organizations. Between January and November the following articles were published.

• April : Managing safety and health in the work environment Can training make a difference?

Tips for making Time, Work Better for the Organization

• Technical Working Paper
• Tax reform
• Internet
• Migrating

Financial Report

The Georgetown Chamber Of Commerce and Industry’s (GCCI’s) financial performance for the Period January 2008 to December 2008 was favorable resulting in a surplus of Two hundred and sixty four thousand, three hundred and eighty dollars ($264,380).

The Chamber encountered some cash-flow challenges during the period but was successful in converting accounts receivable into liquidity to pay for expenses incurred. The Chamber’s budgeted income was set at five million, four hundred and forty thousand dollars ($5,440,000) but the actual earnings were Seven million three hundred and fifty thousand, two hundred and eight dollars ($7,350,208) which resulted in a favorable variance of one million, nine hundred and ten thousand, two hundred and eight dollars ($1,910,208).

The budget expenditure for the period Jan-December 2008 was five million, nine hundred and ninety nine thousand, six hundred and thirty seven dollars ($5,499,637) and the actual expenditure incurred for that period was seven million, eighty five thousand, eight hundred and twenty eight dollars ($7,085,828) which resulted in an adverse variance of one million, five hundred and eighty six thousand, one hundred and ninety one dollars($1,586,191 ).

The Chamber’s overall performance saw it making a  favorable surplus of two hundred and sixty four thousand, three hundred and eighty dollars($264,380) when compared to the budgeted loss of fifty nine thousand, six hundred and thirty seven   dollars($59,637) which resulted in a variance of two hundred and four thousand, seven hundred and forty three dollars($204,743).

Acknowledgements

The success and achievements of the Chamber this past year could not have been possible without the dedication and commitment of the many people who believed in the Chamber and who worked diligently to help reposition the Chamber. We sincerely thank you, our Partners and Network of resource personnel for your commitment, loyalty, dedication and confidence.

We also extend sincere appreciation to our President, Executives, Councillors and the Custodians of the Chamber for dedicating their time and efforts towards the achievement of the goals of the Chamber which are set out in the Strategy Plan.

We wish to recognize the outstanding performance of our staff members who have worked tirelessly with limited resources to produce deliverables.

To our members, members of the wider business community and our friends we thank you most sincerely for your confidence in us.