2011年-世界发展银行全球_Enterprise_Surveys___Trinidad_and_Tobago_Country_Profile_2010_15页_820kb

Trinidad and Tobago Country Profile 2010 Summary

Core Content

The Trinidad and Tobago Country Profile 2010 is part of the Enterprise Surveys conducted by the World Bank and its partner IFC (International Finance Corporation). These surveys assess the business environment in Trinidad and Tobago and compare it with the Latin America & Caribbean region and the High Income: non-OECD income group. The surveys focus on various factors influencing firm productivity and performance, including infrastructure, trade, regulations, corruption, crime, finance, and innovation and workforce.

Main Topics and Key Findings

1. Business Environment Obstacles

• Top Constraints: Firms in Trinidad and Tobago report significant obstacles in the business environment, particularly in corruption, regulations, and business licensing.
• Regional Comparison: The country's business environment is generally less favorable compared to the regional average, especially in terms of corruption and licensing delays.

2. Average Firm

• Firm Characteristics: The average firm in Trinidad and Tobago is relatively young, with an average age of 20.7 years.
• Ownership and Management: The majority of firms are privately owned, with sole proprietorships making up 37.7% of firms. Female participation in management and ownership is notable, with 20.8% of firms having a female top manager and 45.1% having female participation in ownership.
• Ownership Structure: Closed shareholding companies are the most common form of ownership, accounting for 44.4% of firms, while open shareholding companies are rare, at 0.0%.

3. Infrastructure

• Electricity: Firms face 0.7 power outages per month, with 0.4% of sales lost due to power failures. The delay in obtaining electrical connections is 18.8 days.
• Water Supply: There are 2.8 water shortages per month, averaging 17.6 hours of shortage per event. The delay in obtaining water connections is 36.4 days.
• Telephone Connections: The delay in obtaining a mainline telephone connection is 14.9 days.
• Overall Impact: Poor infrastructure increases operational costs and hampers productivity, especially for small and medium-sized firms.

4. Trade

• Export Activity: 19.2% of firms in Trinidad and Tobago are exporters, with 80.9% of manufacturing firms using foreign inputs or supplies.
• Customs Delays: The average time to clear direct exports through customs is 7.3 days, and imports take 10.0 days on average.
• Transport Risks: 0.3% of export value is lost due to theft, and 0.4% is lost due to breakage or spoilage during transport.

5. Regulations, Taxes, and Business Licensing

• Licensing Delays: The time to obtain an import license is 12.8 days, and construction-related permits take an average of 381.8 days, which is significantly higher than the regional average.
• Government Interaction: Senior management spends 7.9% of their time dealing with government regulatory requirements. The average number of tax inspections per firm is 0.6.
• Ownership Forms: Closed shareholding companies dominate, with 44.4% of firms, while sole proprietorships are the most common among small firms.

6. Corruption

• Graft Index: 9.7% of firms in Trinidad and Tobago report being asked or expected to pay a bribe, compared to 6.6% in the region.
• Gift Payments: A significant percentage of firms expect to make gifts or informal payments in various contexts, such as meeting with tax inspectors (5.5%), securing a government contract (6.8%), and obtaining an import license (16.7%).
• Operating License: 43.5% of firms expect to make informal payments to obtain an operating license, which is higher than the regional average.

7. Crime and Informality

• Court Perception: Only 33.1% of firms believe the court system is fair, impartial, and uncorrupted.
• Security Costs: 1.1% of sales are spent on security, with 0.4% of sales lost to theft, robbery, vandalism, and arson.
• Informality: 77.7% of firms are formally registered at the time of establishment, indicating a relatively low level of informality compared to the regional average.

8. Finance

• Internal Finance: 65.9% of firms use internal funds for investment, suggesting limited access to external financing.
• Bank Finance: 19.1% of firms use bank financing, with 53.7% having bank loans or lines of credit.
• Collateral Requirements: The value of collateral needed for a loan is 139.5% of the loan amount, indicating high financial barriers.
• Access to Financial Services: Nearly 100% of firms have checking or savings accounts, showing good access to formal financial services.

9. Innovation and Workforce

• Quality Certifications: 11.0% of firms have internationally recognized quality certifications, which is slightly below the regional average.
• External Audits: 79.6% of firms have their annual financial statements reviewed by external auditors.
• Use of Technology: 81.2% of firms use email for communication with clients and suppliers, while 30.8% have their own website.
• Workforce Composition: 41.6% of firms have full-time female workers, with 5.4 and 24.3 being the average number of temporary and permanent workers, respectively.

Key Information

• Survey Methodology: The surveys are based on face-to-face interviews with firm managers and owners, covering non-agricultural formal private economy.
• Sampling: Stratified by industry, firm size, and geographic region, with small, medium, and large firms as defined in the document.
• Data Sources: All indicators are derived from firm responses and are used for cross-country comparisons.
• Purpose: The surveys are useful for policymakers and researchers to understand the business environment and reform effectiveness.

Conclusion

The Trinidad and Tobago Country Profile 2010 highlights several challenges in the business environment, particularly corruption, licensing delays, and infrastructure inefficiencies. While the country has relatively good access to financial services, high collateral requirements and limited external financing suggest financial market inefficiencies. The informal sector is small compared to the regional average, but corruption and crime remain significant issues affecting firm performance and investment. The workforce is generally well-represented, with female participation and ICT usage indicating a degree of modernization in the private sector. Overall, the report underscores the need for reforms in governance, infrastructure, and financial systems to improve the business environment and firm productivity.