2012年-世界发展银行全球_Enterprise_Surveys___Antigua_and_Barbuda_Country_Profile_2010_15页_984kb

Antigua and Barbuda Country Profile 2010 Summary

Core Content Overview

This document provides a comprehensive analysis of the business environment in Antigua and Barbuda based on the Enterprise Surveys conducted by the World Bank and its partners. It covers various aspects of the business climate, including corruption, regulations, taxes, infrastructure, trade, finance, innovation, and workforce characteristics. The data is benchmarked against the Latin America & Caribbean region and the High Income: non-OECD income group to highlight performance differences and areas for improvement.

Main Topics and Key Indicators

1. Business Environment Obstacles

• The business environment in Antigua and Barbuda is shaped by multiple factors that can either support or hinder firm operations.
• The top 10 constraints as identified by firms are compared to the regional average.
• Top 3 constraints vary by firm size (large, medium, small), indicating that different firms face distinct challenges.

2. Average Firm Characteristics

• The average firm in Antigua and Barbuda has been in operation for 17.1 years.
• Female participation in top management is 17.5%, while in ownership it is 21.3%.
• The majority of firms are privately owned (92.2%), with 7.2% being foreign-owned and 0.3% government-owned.

Key Indicators by Sector

3. Infrastructure

• Power outages occur on average 2.9 times per month, with 0.2% of sales lost due to them.
• Water shortages are not reported for small and medium firms, but large firms experience 24 hours of average shortage per month.
• Delays in obtaining infrastructure services such as electrical connections, water connections, and telephone connections are reported, with 6.7 days for electrical connections being the average.

4. Trade

• 26.5% of firms in Antigua and Barbuda are exporters, with 64.6% using foreign material inputs.
• Average time to clear direct exports through customs is 6.4 days, and imports take 6.2 days on average.
• Losses during direct exports due to theft, breakage, or spoilage are 0.1% of sales, which is relatively low compared to the regional average.

5. Regulations, Taxes, and Business Licensing

• Days to obtain an import license is 8.1 days, with 23 days required for construction-related permits.
• Senior management time spent dealing with government regulations is 4.5% of their time.
• Average number of visits or meetings with tax officials is 1.9.
• Shareholding structures are dominated by sole proprietorships (51.6%), with 25.1% being closed shareholding companies and 18.6% partnerships.

6. Corruption

• Graft Index shows that 1.8% of firms in Antigua and Barbuda faced corruption-related issues.
• 6.1% of firms expected to give gifts during meetings with tax inspectors.
• 4.3% of firms expected to give gifts to secure an import license.
• 3.9% of firms expected to give gifts to get an operating license.
• The regional average for corruption is 6.0%, indicating that Antigua and Barbuda performs better in this area.

7. Crime and Informality

• 58.7% of firms believe the court system is fair, impartial, and uncorrupted.
• Security costs account for 0.8% of sales.
• Losses due to theft, robbery, vandalism, and arson are 0.5% of sales.
• 91.0% of firms are formally registered when starting operations, showing a relatively low level of informality.

8. Finance

• Internal finance accounts for 64.2% of investment.
• Bank finance is used by 32.3% of firms.
• Trade credit financing is minimal, at 2.2%.
• Equity and sale of stock contribute 1.2% to investment.
• External financing for working capital is 30.4%.
• Collateral required for a loan is 176.7% of the loan amount.
• 49.2% of firms have bank loans or lines of credit.
• 100.0% of firms have checking or savings accounts.

9. Innovation and Workforce

• Only 3.7% of firms have internationally recognized quality certifications.
• 50.8% of firms have their annual financial statements reviewed by external auditors.
• 26.3% of firms use their own websites for business communication.
• 87.9% of firms use email to communicate with clients/suppliers.
• Average number of temporary workers is 0.8, while permanent full-time workers average 21.2.
• 44.6% of firms have full-time female workers.

Summary of Key Findings

Conclusion

The Enterprise Surveys highlight that Antigua and Barbuda has a relatively favorable business environment compared to the Latin America & Caribbean region, especially in terms of corruption and formal registration. However, there are areas for improvement, particularly in infrastructure reliability, business licensing efficiency, and innovation adoption. The dominant business structure is sole proprietorship, and female participation in management and ownership is lower than the regional average. The financial system is somewhat developed, with external financing being accessible to a majority of firms, though collateral requirements are high. Trade is moderately active, with firms relying on foreign inputs and facing moderate customs delays. Overall, the report underscores the importance of policy reforms to enhance the business environment and support private sector development.