The Island’s Chamber of Commerce has a new captain at the helm — the owner of the award-winning stationery and gift store Pulp & Circumstance.

Store chief Kristi Grayston has taken over from Ronnie Viera as president of the Chamber, which represents business interests across the island.

Ms Grayston, only the second woman Chamber president, said the organisation faced a number of problems as Bermuda continued to grapple with the recession.

She added that the 60/40 rule, which guarantees majority ownership of local businesses, needed to be examined, while some chamber divisions still had trouble with immigration issues.

And she said that the real estate division was still looking for more legal changes to boost a flagging sector.

Ms Grayston added that the Chamber would continue to lobby Government to retain tax breaks for the hard-hit retail and restaurant businesses.

She said: “The 60/40 rule really needs to be put on the table and examined for what it’s worth.

“That’s one of the things we’re planning to do shortly — have a panel discussion on the 60/40 rule and we’re hoping the Minister of Finance will join us for that conversation.”

She added: “I have mixed views on it from a personal point of view. There are certainly areas where the 60/40 rule is a positive thing for Bermuda, but we have banks which are not lending money which is strangling business.

“Business needs the least amount of restriction in order to flourish.”

Ms Grayston said: “We keep seeing little indicators of hope, dabs of light here and there.

“There is no big picture — entrepreneurs by their nature tend to be optimists, so I’d like to think something will improve for the business community shortly.”

She added that opening up the Island to overseas investors also meant looking at the right to own property.

Ms Grayston said: “We have done that before with Ace and XL and it hasn’t been an issue, but foreign-owned businesses buying real estate, that’s a concern.”

She added: “I’d like the business community to be much healthier and I’d like our membership to grow in some areas where we’re a bit light.”

Ms Grayston explained she wanted to see more businesses from North Hamilton sign up with the Chamber and closer links between the east and west divisions of the Chamber.

She added: “I’d like to see more people joining every division — we are a very effective lobbying group, so there are large benefits to membership and its one of the most effective networking organisations on the Island.”

Ms Grayston said: “I intend to continue the good works of the Chamber in supporting the interests of all local businesses.

“2014 will see a move towards more thought-provoking discussions on topical issues as we continue to lobby Government on behalf of our membership.”

She added: “Ronnie has done an amazing job in the last two years and we moved quite a way forward. It’s imperative we’re able to continue to maintain this.”

Mr Viera, who stepped down after two years as president following the Chamber’s AGM earlier this month, said: “I’ve really enjoyed my time as president and hope that my efforts and contribution over the last two years have made the Chamber a stronger and more visible organisation.”

And he thanked fellow board members — six of whom are also standing down — for their support.

The new members of the board are Jonathan Howes of Bermuda Press Holdings, the parent company of The Royal Gazette, BF&M’s John Wight, Stevedoring Services’ Warren Jones, Anchor Investments’ Nathan Kowalski, Peter Pearman of CD&P and KPMG’s Steve Woodward.

Ms Grayston, who stepped up to the top job from vice-president and representative for the retail division, is a past board member of the Bermuda Economic Development Corporation and a former treasurer of an Island-based exempt company, as well as a past trustee of the Bermuda National Gallery.

She was recognised by the Leading Women Entrepreneurs of the World in 2003 and in the same year won the Take the Next Step business development grant.