The Chamber of Commerce and Industry’s project at the ring road on the Pondfill (see related story) is years in the making and has seen its share of ups and downs, to a large extent depending on which coalition government and/or minister was in office. Ground-breaking is now foreseen in the next two months or so, indicating the Economic Service Centre could finally become a reality.
Some may still question whether the chamber, as an official advisor of government and representing all private sector entities in the trade registry, should really be embarking on this kind of venture. The need for a new own office is one thing, but offering 18 lease-to-own units to small businesses also creates an element of “doing business” within the chamber.
Not that there’s necessarily anything wrong with that and it’s certainly not unique, Moreover, other local non-profit entities have found ways to earn money without adversely impacting their primary objectives and allowing them more financial room to pursue these.
One example is the White and Yellow Cross Care Foundation (WYCCF) and its investments in the St. Rose Arcade, etc. Experience with such enterprises no doubt also helped this non-governmental organisation (NGO) to play a key role in the post-Hurricane Irma recovery concerning repairs to the homes of elderly and paid courses for temporarily-unemployed hospitality workers.
For the chamber it would also seem important to have clear and transparent selection criteria regarding the spaces to be sold and perhaps even award them through a public tender. As a well-respected and important institution of the country, any appearance of favouritism is best avoided.
