Independence referendum was over.

The Chamber of Commerce said the failed Independence initiative sendt "a strong and clear signal: Now is not the time for independence.'' The Chamber noted its pre-referendum survey results that 95 percent of its membership "saw no economic benefit to independence''.

The Bermuda International Business Association (BIBA), meanwhile, said it "greeted the outcome of the Independence referendum as a welcome end to a lengthy dialogue with the overseas media about the independence referendum.'' BIBA deputy chairman, Mr. Glenn Titterton, said that the association can now devote its full attention to the continued development and promotion of international business.

Mr. Titterton said, "We have spent a significant amount of time this year liaising with the overseas media about the Independence referendum. It has actually provided us with a good opportunity to reinforce some key messages about the international business industry and to reinforce our stature as a premier international business centre.'' Media interviews have been conducted with Mr. Titterton by The Financial Times, BBC World Service TV and radio, The Times and European Business News, in addition to others. Statements from BIBA have been picked up by Reuters, Dow and Bloomberg.

And the Chamber, in a prepared statement, said, "The business community is facing fierce global competition and many of our businesses continue to struggle. The uncertainty caused by the independence referendum did not help this struggle and we hope now that this is put behind us.'' Both business organisations paid tribute to Sir John Swan, saying that as Premier, he had made a huge contribution to the community.

Mr. Titterton also said BIBA was pleased that the referendum result was a decisive one.

"The threat to international business was the continuation of the period of uncertainty and if that returns to normal now, we believe that any threat to international business will disappear,'' he said.

"The international businesses that I've spoken to, of course, took an interest in the process. But I've not been aware of any undue alarm.

"Throughout the debate, the political parties have all recognised the value of international business and have said so. So that was reassuring. We had more incorporations of insurance companies in the first six months than we did last year. Things were happening, but I have no doubt that getting rid of this period of uncertainty will mean that the whole international business community can move forward with confidence.

"BIBA, in particular, can promote international business overseas, as we have been doing, with confidence. The BIBA companies, of course, are the service providers. Our commitment to providing excellent service through our members -- the lawyers, the banks, the accounting firms, the management companies -- stood, regardless.

"But we would see, once things have returned entirely to normal, a period of some growth.'' On the matter relating to media contacts with BIBA, Mr. Titterton also noted that overseas media coverage of Hurricane Felix's assault on Bermuda was not always reflective of the event.

"There is no doubt at all that the news that was disseminated internationally led people to believe that Bermuda was all but washed away.''