Christmas slump for local business

(CNS Business): Cayman’s retailers and other local businesses report average to below average fortunes for the Christmas period, though most agree that the fruition in 2012 of just one of the government’s major development projects would give local business a tremendous, and maybe even life-saving, boost. Businessman Prentice Panton believes that if it happened soon there would be an improvement by mid-year. In the meantime, he said, the construction industry would benefit from small government projects and there would be a roll on effect throughout the economy. Some business owners are looking for new directions to survive the slump, while others believe they may fold if the economy doesn’t pick up soon. Read more on CNS Business