2021 INSPIRATIONAL. MOTIVATIONAL. TRAILBLAZING. WIB 2021 FC WRAP V3.indd 1WIB 2021 FC WRAP V3.indd 109/11/2021 09:3209/11/2021 09:32LIVING.KY FURNISHING DREAMS LIVING.KY PROVIDES GRAND CAYMAN WITH A PERSONALLY-CURATED COLLECTION OF CLASSIC TO CONTEMPORARY FURNITURE—AT AFFORDABLE PRICES—FOR EVERY ROOM IN YOUR HOME. EXPLORE OUR SELECTION OF LIVING, DINING, BEDROOM, CHILDREN’S ROOM, OUTDOOR, AND HOME OFFICE FURNITURE, TOGETHER WITH A BROAD RANGE OF RUGS, LIGHTING, PILLOWS, WALL DECOR, & ACCENTS FOR EVERY BUDGET. DESIGN EXPERTS ARE READY TO HELP YOU ENVISION AND CREATE A WONDERFUL SPACE WITH OUR COMPLIMENTARY INTERIOR DESIGN SERVICES. FAIR PRICING. LIVING.KY IS PROUD TO OFFER ALL OF OUR PRODUCTS AT FAIR PRICING. WE MATCH USD RETAIL PRICING IN KYD, SHIPPING AND DUTIES ARE ALL INCLUDED. THE PRICING OF ALL OUR PRODUCTS ARE AVAILABLE TO SEE AT WWW.LIVING.KY. CONTACT LIVING.KY TODAY, SO WE CAN HELP YOU BEGIN LIVING STYLISHLY, COMFORTABLY, AND AFFORDABLY. • • • 24 PASADORA PLACE, SMITH ROAD GEORGE TOWN, GRAND CAYMAN WWW.LIVING.KY (345) 233-8700Women In Business 1 FRIDAY, 19 NOVEMBER 2021 While women have made great strides in the workplace, most have a gender-related tale or two to tell when it comes to the business world. Securing bank fi nancing is often tougher, managing work-life balance can be a struggle, and while women are now in high-level positions, the glass ceiling still exists when it comes to the top titles. “While the scenario is changing, we still have a long way to go,” says Dawn McLean-Brady, a business owner and president of the Cayman Islands Small Business Association. “In Cayman, a number of successful women entrepreneurs have created thriving business brands. However, the journeys have not been easy. “Only when families, investors and society at large make a conscious attempt to bring down the gender walls can women entrepreneurs shine in the corporate world.” Here, McLean-Brady shares her thoughts, drawn from her own experience and other female entrepreneurs, of the challenges and barriers women face in the business realm. LIMITED FUNDING. Funding is crucial to start, or to maintain, a business. Many women own property in Cayman but, in some businesses, personal property is the only means to obtain a loan. For example, for restaurants, banks do not lend commercial unsecured loans and it is unfair to use personal assets for commercial loans. There is also a small number that do not have property and encounter problems while applying for loans due to lack of collateral. A report by Bloomberg showed that women who own and run a business receive a lot less funding as compared to men. Hence, in the Small Business Association in the U.S. there are loans geared primarily to female entrepreneurs. WORK LIFE BALANCE. Women across the world – and Cayman is no different – are expected to play a larger part in handling the household and taking care of their family. Owning and running a business means long hours and thus, women’s work-life balance can become a problem. In the case of working mothers, taking care of our children takes a lot of time and energy, thereby often forcing women to give less priority to their business. Some men, on the other hand, generally play a secondary role when it comes to household responsibilities. However, this situation seems to be changing now as more men are stepping forward to contribute to the household responsibilities. MINIMAL SUPPORT. When we start an entrepreneurial venture and begin to fi nd our place in the business world, we need as much support as we can get. Unfortunately, in many cases, women fi nd themselves on their own with no one to guide us. In this day and age, it is almost necessary to have experienced mentors and role models. For women, managing businesses becomes even more diffi cult if their family and friends don’t assist in some small way. As a result, it can be tough to make a mark in an arena that is already fairly dominated by men. LACK OF EDUCATION. Some female entrepreneurs open businesses out of the inability to secure permanent full-time employment. At times, that means some may not have the proper formal education. This leads to issues when it comes to business development, maintaining accounts, understanding money matters or even day-to-day running of the company. Lack of skills, information and the necessary resources to run a business can reduce women’s chances of turning their businesses into a success. DUAL PURSUITS OF WORKING FULL TIME AND OWNING A BUSINESS. There are challenges I personally have found, and I hear it from other female entrepreneurs, who work full-time and own a business. I fi nd being in C-Suite, our jobs can require additional professional development while maintaining a full workload is a challenge. So, mastering our full-time job and maintaining an active role in our business is a Herculean task. TOUGH COMPETITION AGAINST MALE COUNTERPARTS. For a long time, entrepreneurship has been a fi eld dominated by men. In speaking to female entrepreneurs, I am well-aware the playing fi eld is not even, simply because there is still not equality in pay for the same positions that women hold versus men. For example, when a female entrepreneur works full-time and is opening a business or maintaining an existing business, her male counterpart may be paid more and is more apt to have fi nancial opportunities than she will. CLOSING THE GENDER GAP Women face barriers to entrepreneurial success. Only when families, investors and society at large make a conscious attempt to bring down the gender walls can women entrepreneurs shine in the corporate world. - Dawn McLean-Brady, president, Cayman Islands Small Business Association NETWORKING CAN BOOST BUSINESS Networking can be a key strategy in navigating the business world, particularly for female entrepreneurs. As women face a unique set of challenges in business as opposed to their male counterparts, networking can provide connections with others facing similar struggles. It can also open the door to resources they might otherwise fi nd diffi cult to acquire. “Women bring a different set of perspectives to problem-solving and bring a unique set of issues and experiences that can help in decision-making,” says McLean-Brady. “We feel if networking is done right, it lets women identify role models, fi nd mentors and sponsors, barter for services and expand our business opportunities.” She recommends tapping into networking opportunities with such groups as the Cayman Islands Chamber of Commerce, CISBA and the Business and Professional Women’s Club of Grand Cayman. “At CISBA we have a very active WhatsApp group, and we believe that networking is for building business,” she says. “It’s great to socialise in different networks, but we encourage networking with a purpose to scale businesses upwards.” McLean-Brady says volunteering is another avenue for networking, allowing participants to gain new skills or hone existing ones. It not only gives individuals hands-on experience but introduces them to new groups and new contacts. “I am huge proponent of volunteering in charitable organisations that align with your personal objectives and goals,” she says. Dawn McLean-BradyWomen in Business 2 cayman compass | FRIDAY, 19 NOVEMBER 2021 Celebrating the Ladies of the Cayman Islands We are grateful for all the work you do daily The ladies of Davenport Development Ltd are proud to have made the pledge to reopen Cayman on 20 November. JOIN US. MAKE THE PLEDGE. reopencayman.comWomen in Business 3 FRIDAY, 19 NOVEMBER 2021 | cayman compass DAVENPORT DEVELOPMENT LTD SALES OFFICE (345) 949 4979 INFO@DAVENPORT.KY DAVENPORT.KY MS. VIRGINIA THOMPSON Ms. Virginia Thompson is the mother of Ken and the Matriarch of of Davenport Development. She is a savvy true Caymanian Lady Sea Captain. Celebrating th Ladies of Davenport Development SHARON DIXON her most important and loved priority. CHERRY JOCSON originally from the Philippines. Cherry has married to Rogelio and is the proud mother of Ronnie (15) and Jean Marc (17). DANNICA GRACE AQUINO GARCIA KAREN DYCK Karen is a veteran of the local hospitality industry. She came to Davenport Development many years to come. TEENA WRANGLER mother of Vincent and Brandi and the JANE RENO recently married last month to a handsome Women in Business 4 cayman compass | FRIDAY, 19 NOVEMBER 2021 Compass Centre, 319 Shedden Road, George Town, PO Box 1365, Grand Cayman KY1-1108, Cayman Islands. Publisher Kathleen Capetta Women in Business Editor Laura Munyard Durston Contributing writers Laura Munyard Durston Jenny Gabruch Catherine MacGillivray Graphic Design (editorial) Beth Ormerod Graphic Design (advertisements) Alex Angel Taneos Ramsay Head of Sales Cheryl Birch-Gillies Sales and Development Consultant Peter Medwid Account Executives Dori Blair Ilse Dacker Shawna Marshall Cody Moore Eric Vincent Printed by Compass Media 2021 P1 P6 P8 P10 P12 P18 P20 P24 P26 P28 P30 CONTENTS CLOSING THE GENDER GAP Women face barriers to entrepreneurial success. A PASSION FOR PILATES Colleen Brummer makes it her business to be fi t. DO’S AND DON’TS OF STARTING A BUSINESS The Cayman Islands Small Business Association offers tips. BUILDING A BUSINESS: WOMEN’S HAVEN Melesia Adderley talks risk when it comes to business. TURNING ART INTO BUSINESS Women capitalise on their artistic abilities. DOUBLE DEMANDS DURING PANDEMIC Key worker and mother of twins strives for work-life balance. Q&A WITH STACY MCAFEE The fi rst female president and CEO of UCCI. FEMALE ENTREPRENEURS SEEK NEW PATHS Women are seeing possibilities in the pandemic. PROSPERING IN PROPERTY Women thriving in Cayman’s real estate market. STRIKING THE WORK-LIFE BALANCE Small changes to balance the scales. RECOGNISING WOMEN IN OCEAN SCIENCE CCMI’s Women in Ocean Science Award. Women in Business 5 FRIDAY, 19 NOVEMBER 2021 | cayman compass A force in the industry At Island Heritage, we don’t just believe in gender equality—we live it. • 64% of our staff are women • 69% of our management team are women Along with our A Excellent AM Best rating and our dedication to customer service excellence, this is another example of how we’re dedicated to leading the market—the Island Heritage way. Home • Motor • Yacht • Commercial • Pension For more information visit islandheritageinsurance.com, call +345 949 7280 or email customercare@islandheritage.com.ky Island Heritage Insurance Company, Ltd. is part of the BF&M Limited group of companiesWomen in Business 6 cayman compass | FRIDAY, 19 NOVEMBER 2021 A PASSION FOR PILATES “I love Pilates and it is amazing that I get to do what I love for a living – full stop,” says Colleen Brummer. “I have never regretted for one single moment opening the doors of ENERGY 18 years ago.” That passion for her business is evident to all who meet Colleen, who arrived in Cayman in 1997 from British Columbia, Canada for a ‘short stint’ abroad. Twenty-four years later, she has fi rmly entrenched herself into the islands’ fi tness community as owner/ founder of ENERGY Pilates, and the creator of cancer fundraiser Pilates for Pink. BEGINNINGS Having been an aerobics instructor and personal trainer in university, Colleen discovered her passion for Pilates not long after moving to Cayman. “I quickly realised I’d discovered this amazing method of movement that was so much more effective for my body than anything I had experienced before,” she says. “I began my STOTT Pilates instructor training in 2001 and never looked back.” Colleen opened ENERGY Pilates in 2003. “It was both exciting and terrifying at the same time but the ability to create something that was uniquely my vision for what a Pilates studio should be, and to do something that I was passionate about, made it all worthwhile,” she says. Challenges have been thrown at Colleen and ENERGY throughout its lifetime, the most notable being Hurricane Ivan, which hit a year into the business, and being diagnosed with breast cancer in 2005. “Toss in a few more hurricanes, earthquakes, a global fi nancial crisis and now a global pandemic – it’s been quite a ride.” she jokes. “I truly believe that it would not have been possible to weather these storms, both literally and fi guratively, if my passion and enthusiasm for health and wellness did not exist.” FAMILY ATTRIBUTES Colleen’s mom always recognised her daughter’s skills in educating others, an attribute Colleen, who has a bachelor’s in education, says is innately part of who she is and has contributed to her ability to excel in her fi eld. “[My mom] had this amazing artistic talent and was actively involved with the autistic education system in our community once they discovered my brother was autistic,” she says. Her mother was diagnosed with breast cancer at the age of 36 and passed away eight years later when the cancer returned. Her dad also imparted valuable life lessons. “My dad is an absolute rock star – he was 45 when my mom died and had three kids to be there for and I don’t know how he did it,” says Colleen. “I learned everything there is to know about hard work, determination, resilience and drive from him. I guess you could say I got the best of both of them.” FIGHTING SPIRIT Colleen underwent a lumpectomy, followed by radiation and chemotherapy, for breast cancer at age 35. “I will admit that the hardest part was losing all my hair,” she says. “It seems so vain, and I don’t consider myself a vain person, but losing my hair felt weirdly like I was losing my identity. It was rough. “Through my surgery and recovery experience I learnt that there are times when you need to focus all your energy on yourself – to heal, to mourn, to be scared – and that it is okay to accept help from others.”Women in Business 7 FRIDAY, 19 NOVEMBER 2021 | cayman compass This help came from her amazing support system, including husband Donovan and friends and family. Born from this traumatic time, is Pilates for Pink, an annual group Pilates workout which raises money for the Cayman Islands Cancer Society. “I felt strong and capable in so many aspects of my recovery, but I did struggle with what I felt was the loss of what I used to be – losing all my hair, losing my strength, feeling weak – those were all new feelings for me,” explains Colleen. “When I was fi nished with my treatment, I focused on goals that would help me get back to ‘normal’ and starting an event focusing on Pilates, movement, and, of course, raising money for the Cayman Islands Cancer Society, seemed like the perfect way to work through what I was feeling and help give back to those that helped me.” ADVICE FOR WOMEN Colleen admits that despite loving her job, running her own small business is diffi cult. “I don’t think a day goes by when I don’t bring my work home with me or worry about some aspect of the business or spend time thinking about what the next steps will be,” she says. Separating work and personal life is also a challenge. “Hiring a personal business coach a few years ago is probably one of the best things I have ever done – I wish I had done that so much sooner and I can’t recommend it enough,” she says. She advises other women who want to turn a passion into a business to surround themselves with a collective of knowledgeable and like-minded individuals in a variety of fi elds to use as a sounding board for forming ideas, building creativity and networking. Colleen has successfully bridged this gap between passion and occupation through ENERGY. “For me, ENERGY is more than a Pilates studio – it is a place where people of all ages and abilities can come to experience something that it is a direct representation of my passion for movement, education and connectivity to others,” she says. “Honestly? It really doesn’t get much better than that.” THE ABILITY TO CREATE SOMETHING THAT WAS UNIQUELY MY VISION FOR WHAT A PILATES STUDIO SHOULD BE, AND TO DO SOMETHING THAT I WAS PASSIONATE ABOUT, MADE IT ALL WORTHWHILE. - Colleen Brummer Photo: Julie CorsettiNext >