Island challenges linked to business
avoid a negative impact on the Island's infrastructure, Hamilton Rotarians were told yesterday.
Managing partner of accounting and consulting firm, Ernst & Young Bermuda, Jan Spiering FCA, said that more statistics must be collected to ensure planners can provide the required guidance.
Mr. Spiering said, "Effective managed growth is the key to the success of international business in the future. Given the external pressures and competition and the inherent limitations of our infrastructure, managed growth is essential.
"This means we require a working partnership between international business, tourism and Government; a strategic plan to manage future development and growth; statistical tools to enable us to better plan and then manage against the plan; strong understanding of our competition; and focused growth.'' Mr. Spiering is at present, chairman of the International Business Forum, a committee comprised of international business leaders charged with the strategic development of Bermuda's future international business.
He is also chairman of the mutual fund committee of the Bermuda International Business Association (BIBA), addressing legislative and business matters relating to the investment industry.
He believes that the impact to the Island of international companies that have a physical presence here, should be studied more closely, with a view to obtaining a true understanding of just what effect the companies have on the Island infrastructure.
Some of the areas that can be focused on include schooling, housing, traffic, waste disposal and water usage.
He said, we shouldn't wait until a problem has been identified before considering options and remedies.
Mr. Spiering said that managing the growth of international business also means ensuring a continued increase in jobs for Bermudians throughout all levels of the industry, especially at management levels.
He said, "The industry pays $280 million in salaries. The last Archer report said that in 1996, there were 2,420 people employed by international business directly, of which over 1,400 were Bermudians -- up by five percent from the previous survey.
"Of those Bermudians, there's been an 11 percent increase in the number of Bermudians working in managerial positions for the period 1995/96.'' Jan Spiering BUSINESS BUC