GREAT BAY--Minister of Tourism, Economic Affairs, Transport and Telecommunication (TEATT) Grisha Heyliger-Marten has announced two economic studies aimed at addressing challenges facing St. Maarten's small businesses and households, one examining access to financing for entrepreneurs and the other investigating the factors driving the prices of essential supermarket goods.
Speaking during Wednesday's Council of Ministers briefing, the Minister said the initiatives are intended to provide government with reliable evidence to guide policy decisions on business development, affordability and the cost of living.
The first initiative, an Access to Finance Study under the National Recovery Program, has received the endorsement of Heyliger-Marten and the Minister of Finance, with technical support from the World Bank.
The study will examine the financing options currently available to micro, small and medium-sized enterprises (MSMEs), determine whether those options adequately meet business needs and identify measures government could consider to address financing gaps.
Heyliger-Marten said access to affordable capital remains a significant obstacle for entrepreneurs who may have viable business ideas or opportunities to expand but lack the financing needed to move forward.
As part of the research, project teams may contact entrepreneurs, financial institutions and other stakeholders to gather information about financing experiences, existing obstacles and the types of financial support businesses require.
The Minister encouraged business owners to participate, emphasizing that effective policies must reflect the experiences of the people and enterprises they are intended to assist.
The second initiative focuses on an issue affecting virtually every household: the cost of essential supermarket products.
Heyliger-Marten announced that her Ministry is preparing to publish terms of reference for an independent study examining supermarket prices and the underlying costs that influence what consumers ultimately pay. Qualified firms will be invited to submit proposals, with the announcement expected on government's official platforms as early as next week.
The Minister indicated that the intended study period is six months,underscoring her desire to obtain findings that can guide government action without unnecessary delays.
The research will build on price information already collected by government and compare St. Maarten with relevant regional and other markets. It will also examine transportation, storage, labor, utilities, taxes and other operating costs to determine how these factors contribute to retail prices.
Particular attention will be given toshrinkflation, the practice of reducing product quantities while maintaining the same price or without reducing prices proportionately.
The study will also examine market competition and the relationships between importers, wholesalers and retailers, with the aim of identifying factors that may contribute to high consumer prices.
Its findings are expected to support the ongoing review of the basket of goods and the methodology used to regulate essential commodity prices, including whether existing monitoring and enforcement measures require strengthening.
Heyliger-Marten acknowledged that businesses face legitimate operating expenses, particularly in a small island economy dependent on imported goods. However, she emphasized that these realities must be considered alongside the financial pressure experienced by households struggling to afford basic necessities.
The study is expected to produce prioritized recommendations identifying measures government could realistically pursue in the short term and those requiring longer-term structural changes.
The Minister cautioned that St. Maarten cannot control international shipping rates, global production costs or every external factor influencing prices. Nevertheless, she maintained that government has a responsibility to determine which factors it can influence and whether interventions would provide meaningful relief without threatening the availability of essential goods.
Both studies form part of a broader effort to strengthen economic opportunities while ensuring that economic development produces tangible benefits for businesses and residents.
Heyliger-Marten emphasized that economic progress must extend beyond positive statistics to include better access to financing, improved business opportunities and a cost of living that households can reasonably manage.
