Foreign international businesses have given middle management in Bermuda a "mild slap on the wrist'' for failing to understand the demands of industry.

However, in a customer survey and market research commissioned this summer by the Bermuda International Business Association, the professional expertise of Bermuda's bankers, lawyers, accountants and management consultants receive high praise.

The publication of BIBA's research coincides with news that BIBA is to be incorporated as a limited liability company.

Twenty-one-year-old BIBA has applied for incorporation as a company limited by guarantee.

BIBA chairman Mr. Richard Butterfield said it is proposed that the change over from an unincorporated association to a company registered under the Companies Act will be implemented at the Annual General Meeting next month.

"During the last two years, BIBA has undergone a significant change in its operations, from that of a passive forum for communications between members, to a pro-active body engaged in an analysis of international business, market research and planning for the continued development of Bermuda as an international financial centre,'' said Mr. Butterfield.

"BIBA's Council concluded that it is now time for the association to become an incorporated body,'' he said.

Ms Wendy Davis, BIBA's marketing manager, described BIBA as is "an active, aggressive organisation that merits this kind of structure.

"We are developing very specific ideas about marketing,'' she said. The results of the research, compiled by freelance marketing consultant Ms Karen Georgevic, were presented to BIBA members on Wednesday morning. BIBA's marketing committee is currently forming a marketing plan.

Eighty clients of Bermuda, based outside the jurisdiction, were interviewed about their impression of the Island's strengths and weaknesses.

BIBA chairman Mr. Richard Butterfield said the number one reason given by international business for choosing Bermuda as an offshore jurisdiction was the country's political stability. The research also revealed that "Bermuda is regarded as the "Rolls Royce'' of offshore jurisdictions.

There were complaints that business takes too long to be completed in Bermuda and that the Island is seen to be slow to legislate change.

Also, Bermuda could be more innovative about product development. "The research contains valuable information about Bermuda's stature as an offshore domicile, the Island's competitiveness in certain markets and the degree to which we are providing our customers with first-rate service,'' said Mr.

Butterfield.

"It also underlines the need for a generic plan to market the Bermuda product,'' he said.