Kester Hutson has been re-elected as President of the Georgetown Chamber of Commerce and Industry (GCCI) at its recent elections.
In a statement on Wednesday, the GCCI said it held its 134th Annual General Meeting (AGM) virtually on March 27, 2024. At that meeting, elections for the Chamber’s 21-member Council for the year 2024-2025 were held.
The new Council held its first statutory meeting on Wednesday to elect a new Executive Management Committee (EMC) for the year 2024-2025. This saw Huston returning as the President while Kathy Smith was elected as the Senior Vice President, Gavin Ramsoondar returned as the Junior Vice President, Brian Edwards was elected as Treasurer, and Melisa McRae-George as the Secretary.
The newly-elected Executive Management Committee of the Georgetown Chamber of Commerce and Industry
Former Senior Vice President Richard Rambarran was appointed on the EMC as an ex-officio member. Additionally, Timothy Tucker will also serve as an Ex- Officio member, since the immediate Past President of the GCCI is given the opportunity to do so on the EMC.
Meanwhile, during last week’s AGM, Hutson present the President’s report for GCCI’s 2023-2024 fiscal year. He noted that in line with the country’s evolving economic landscape last year, the Chamber demonstrated exceptional resilience, adaptability, and growth.
This was reflected in GCCI’s financial performance in 2023. Hutson reported that the Chamber’s total revenue increased by three per cent to $93,347,081 and this was driven by strong growth in membership subscriptions and magazine advertisements. Last year, the Chamber’s membership base expanded by an additional 107 members.
According to GCCI President, there was a decline in event revenue due to the non-execution of the Business Development Forum (BDF), but despite this, diversified income sources supported overall growth.
Overall expenses for the Chamber were reduced by one per cent to $85,389,606, with increases in trade missions, magazine expenses, administrative costs, and financial charges offset by lower event expenses. Moreover, GCCI’s surplus surged by 85.6 per cent to $7,957,475, showcasing strong financial management.
Looking ahead, Hutson noted that the GCCI remained focused on enhancing its revenue streams, optimising expenses and delivering value to its members.
Meanwhile, reflecting on the past year, the Chamber President said they have embraced change, seized opportunities, and navigated challenges with a steadfast commitment to serving members and advancing the interests of the Private Sector.
He added that the notable growth in the Chamber’s membership base, with new businesses from a diverse range of industries and sectors, was testament to the value and benefits that the GCCI continued to provide to its members, offering networking opportunities, resources, and support to help businesses thrive and succeed in this competitive environment.
“Over the past year, our Chamber has made significant contributions to the overall development of the business community, fostering a culture of collaboration and innovation, empowering businesses. From continuing to be on the forefront of advocating on key issues affecting the Private Sector to organising industry-specific events, webinars and workshops, we have strived to be a valuable partner to our members,” Hutson stated in his report.
He added that the Chamber robustly engaged with policymakers, industry stakeholders, investors, and the diplomatic community to advocate for policies that support business growth, innovation, and sustainability. Through advocacy work, the GCCI President added, they were able to influence decision-making processes and shape policies that benefit members and the business community at large.
“As many international companies continued to flock to our shores, the GCCI placed heavy focus on connecting local businesses with overseas companies. Promoting the growth and development of local businesses stood at the centre of our work as the Chamber supported the fostering of international partnerships and exploration of new market opportunities. By facilitating business matchmaking events, trade missions, and investment forums, we supported our members in expanding their reach, forging strategic alliances, and tapping into global markets,” the Chamber President stated.
Huston noted that by collaborating with strategic partners, the GCCI amplified its impact, delivered value-added services, and drove collective action to address common challenges facing the business community. (G8)
