TNAG-2923-FCO40-4198-Visits-and-proposed-visits-by-Alastair-Goodlad--Minister-of--1993 — Page 65

We outline below how we envisage The British Chamber should achieve these objectives.

Objective 1:

SECTION E - RECOMMENDATIONS FOR ACTION

BE A SOLIDLY ESTABLISHED AND SOUNDLY FUNDED ORGANIZATION SUPPORTED

BY AN ACTIVE MEMBERSHIP CONSISTING OF ALL BRITISH COMPANIES OF SIGNIFICANCE WITH BUSINESS INTERESTS RELATING TO HONG KONG AND/OR CHINA

Background

The British Chamber of Commerce in Hong Kong was incorporated on the 9th March 1987 with funds initially provided by its 17 founding members and a grant from the British Government.

In common with many new enterprises, the Chamber struggled financially in the early years as it sought to attract membership and to identify what was expected of it by its existing and potential members. There was therefore a chicken and egg situation impacting finances, while at the same time the Chamber had to cope with a difficult personnel problem and the running of a business centre. Substantial deficits were incurred in the first three years but a gradually growing surplus is now being achieved.

It is the current target of the Chamber progressively to clear the initial deficit, without undue burden on the general membership, at the same time increasing the number and quality of events and services available for members. The historical and projected financial performance (assuming no change in srategy) is given below. The financial consequences of fully implementing the new strategy we are proposing are given at the end of this section.

SUMMARY OF HISTORICAL & CURRENTLY PROJECTED PERFORMANCE (PRE NEW STRATEGY)

Financial (HKS'000)

Membership

Year to

Deficit/

Associate/

31st March

Income

Surplus

Cumulative

Corporate

Individual Total

1988(A)

1.758

(1,474)

(1,474)

111

54

165

1989(A)

2,999

(107)

(1,581)

137

54

191

1990(A)

3,242

(709)

(2,290)

165

88

253

1991(A)*

2.299

86

(2,204)

172

116

288

1992(A)

2,733

267

(1,937)

188

120

308

1993(B)

3,400

350

(1,587)

202

147

349

1994(F)

4,000

375

(1,212)

218

159

377

1995(F)

4,500

400

(812)

235

170

405

Fall in revenue due to termination of Business Centre

5