2011年-世界发展银行全球_Enterprise_Surveys___St_Kitts_and_Nevis_Country_Profile_2010_15页_807kb

St. Kitts and Nevis Country Profile 2010 Summary

Core Content Overview

The St. Kitts and Nevis Country Profile 2010 is part of the World Bank Group's Enterprise Surveys, which assess the business environment and firm performance across various sectors. The report provides insights into the challenges firms face in St. Kitts and Nevis, comparing them with regional averages and income group benchmarks in the Latin America & Caribbean (LAC) region. It includes data from small, medium, and large firms, highlighting differences in business conditions and firm characteristics.

Main Topics Covered

1. Business Environment Obstacles

• The business environment in St. Kitts and Nevis is influenced by several key challenges.
• The top 10 constraints include corruption, regulatory hurdles, and infrastructure issues.
• The top 3 constraints vary by firm size, with larger firms facing more delays in obtaining permits and licenses.
• Corruption is a major concern, with firms reporting that bribes are required for certain services, particularly for securing government contracts.
• Crime and informality also impact the business environment, with firms facing security costs and potential losses due to theft, vandalism, etc.

2. Average Firm Characteristics

• The average firm in St. Kitts and Nevis has been in operation for 17.6 years.
• Female participation in management and ownership is relatively high, with 21.1% of firms having a female top manager and 57.8% having female ownership.
• Private ownership dominates, with 84.8% of firms being privately owned, and 14.6% being foreign-owned.

3. Infrastructure

• Electricity supply is a significant challenge, with 4.4 power outages per month and 2.1% of sales lost due to outages.
• Water shortages are also common, with 13.0 shortages per month and an average duration of 3.2 hours.
• Delays in obtaining electricity, water, and telephone connections are high, with 15.7 days for electricity and 20.8 days for water connections.

4. Trade

• 25.6% of firms engage in exports, and 100% of firms use foreign material inputs or supplies.
• Customs clearance for direct exports takes 6.7 days, while for imports it takes 6.9 days.
• Losses during export are minimal, with 0.9% due to theft and 0.7% due to breakage or spoilage.

5. Regulations, Taxes, and Business Licensing

• The process of obtaining permits and licenses is time-consuming and costly.
• Import licenses take 7.9 days to obtain, while construction-related permits take 27.8 days.
• Senior management spends an average of 10.6% of their time dealing with government regulations.
• The average number of tax inspections is 2.0 per year.

6. Corruption

• The Graft Index in St. Kitts and Nevis is 1.6, indicating a relatively low incidence of bribes compared to the regional average of 6.6.
• 10.0% of firms expect to give gifts to secure a government contract.
• 1.2% of firms expect to give gifts to obtain an operating license.

7. Crime and Informality

• 63.6% of firms believe the court system is fair, impartial, and uncorrupted.
• Security costs account for 1.1% of sales on average.
• Losses due to theft, robbery, etc. are 1.2% of sales.
• 84.4% of firms are formally registered when they start operations, indicating a moderate level of informality.

8. Finance

• Internal finance is the primary source of investment, with 47.9% of firms relying on it.
• Bank finance accounts for 32.3% of investment, while trade credit and equity contribute 7.6% and 5.8%, respectively.
• 47.3% of firms use external financing for working capital.
• The value of collateral needed for a loan is 183.2% of the loan amount, indicating a high requirement for financial guarantees.

9. Innovation and Workforce

• 19.4% of firms have internationally recognized quality certifications.
• 66.3% of firms have their annual financial statements reviewed by an external auditor.
• 40.4% of firms use their own websites, and 91.6% use email for communication with clients/suppliers.
• The workforce is composed of 1.9 temporary workers and 21.7 permanent full-time workers on average.
• 43.3% of full-time workers are female.

Key Findings

• Corruption is relatively low in St. Kitts and Nevis compared to the LAC region, but still present in certain areas.
• Infrastructure remains a major challenge, especially for water and electricity supply, with significant delays in obtaining connections.
• Trade is highly integrated, with almost all firms using foreign inputs, but customs procedures are relatively efficient.
• Regulatory and licensing processes are burdensome, with considerable time and effort required for permits and licenses.
• Financial systems are underdeveloped, with a heavy reliance on internal financing and high collateral requirements.
• Innovation and ICT usage are moderate, with a growing trend in digital communication and website usage.
• Workforce composition shows a relatively balanced distribution, with a notable presence of women in full-time employment.

Conclusion

The Enterprise Surveys provide a comprehensive assessment of the business environment in St. Kitts and Nevis, highlighting areas where improvements are needed, particularly in infrastructure, regulatory efficiency, and financial accessibility. While the country performs relatively well in terms of corruption and female participation, the high collateral requirement and delays in service delivery remain critical barriers to firm growth and productivity. Overall, the data underscores the importance of policy reforms and institutional improvements to enhance the business environment and support sustainable development.