Jai Leladharsingh
“Crime in Trinidad and Tobago is multi-faceted and like in most countries, it imposes economic and social costs. The victims of violent crime are predominantly the youth. Such crimes also negatively impact the business environment. A balanced approach to deal with crime should include prevention and crime-control programmes.”–International Monetary Fund (IMF) Western Hemispheric Department.
At the time of writing this article, many Trinbagonians are glued to their television sets viewing the horrific war scenes and incessant bombardment taking place against the brave people of Ukraine by the ferocious Russian Army. Not only that, but our citizens have to also peruse the daily news to be informed about harming, maiming and murder of our nation’s citizens by inhuman and barbaric criminals.
Crime can be devastating to businesses of all sizes. The loss of stock, criminal damage or threats to staff all have a negative impact on the business, its reputation and its bottom line. These negative effects hit especially hard for smaller businesses
According to the World Bank, "Through multiple channels, crime and violence threaten the welfare of Caribbean citizens, particularly in Trinidad and Tobago. Beyond the direct effects on victims, crime and violence inflict widespread costs, generating a climate of fear for all citizens and diminishing economic growth."
Crime in Trinidad and Tobago, the World Bank stated, is multi-faceted and like in most countries, it imposes economic and social costs. "The victims of violent crime are predominantly the youth. Such crimes also negatively impact the business environment. Criminal activity acts as a tax on the entire economy: it discourages domestic and foreign direct investments, reduces firms' competitiveness, and reallocates resources creating uncertainty and inefficiency."
It seems that burglaries, break-ins at business premises and home invasions are the order of the day. Loss of stock is just the tip of the iceberg. Repairing smashed windows or broken shutters and grills cost money and may result in the store being shut while the work is carried out, costing more money. This development will eventually lead to a steep loss in business confidence and this will very negatively impact inward investment levels, which can potentially seriously hinder the growth of the business and economic sectors.
The unrelenting crime epidemic is having a disastrous effect on businesses in Trinidad and Tobago. The unchecked bloody violence has forced operators out of business or, in some cases, to curtail their activities, in both cases leading to the loss of jobs. Merchants have had to make costly investments in modern security systems, in addition, many businesses close their doors early and pay for transportation for their employees.
It must be understood that Small and Medium-sized enterprises (SMEs) are at the forefront of economic policy in developing economies, playing a critical role in local economic growth and development. SMEs tend to serve local rather than global markets. However, several obstacles prevent the greater participation of SMEs in the economy. Among them, crime is a major issue that negatively affects local development in developing countries, as robbery, theft, vandalism and arson increase the cost of doing business.
The Confederation of Regional Business Chambers engaged the Acting Commissioner of Police, McDonald Jacob, in a meeting in February 2022, where he outlined the following initiatives being put in place to deal with crime:
*Hotspot policing to reduce criminal activities in communities.
*Partnering together with different stakeholders to identify and deter criminal activities.
*The Trinidad and Tobago Police Service has already implemented some community-based ideas by offering programmes (eg, sports through the Police Youth Clubs, Drug Awareness, Community Crime Prevention Programme, school lectures and workshops with NGOs).
*Building the capacity of the police services, including a crime management system to analyse statistics to effectively fight crimes.
*Collaboration among national security agencies, especially in the areas of transitional crimes, money laundering, cybercrime, and human trafficking.
*Efforts to fight crime should balance crime-control programmes and preventive measures. For example, security spending in Trinidad and Tobago, like in many other Caribbean countries, is concentrated more on law enforcement and correction than prevention.
*A media campaign to increase citizens’ awareness about security-related issues.
Jai Leladharsingh is the Coordinator of the Confederation of Regional Business Chambers