The French State is making 200,000 euros in aid available for St. Martin businesses that experienced a closure or slowdown due to the September 2017 hurricanes (see Saturday paper). The focus is on economic activities in hospitality-related fields.
Those involved can get 1,000 euros once they prove eligible expenditures totalling at least that amount. This may not seem like a lot of money, but the programme targets very small enterprises (VSEs) with an annual turnover of less than 500,000 euros.
Especially for tiny operations this could be some very welcome help. Moreover, entities that already received assistance from the 2018 Relief Fund qualify.
On the Dutch side, a US $35 million Enterprise Recovery Project was announced by Prime Minister Leona Romeo-Marlin during her New Year’s address. Micro-, small- and medium-size businesses negatively impacted by Hurricane Irma would be able to get a combined loan/grant from the World Bank-managed Trust Fund via local financial institutions.
The intention is to reach 300 enterprises in the first year and 600 in the fourth and final year. However, it’s been a month since and little was heard about the matter.
One worthwhile aspect of the French side’s programme is that that recipients must be up-to-date on their social contributions and taxes or have a moratorium/payment arrangement. Some may say that’s stating the obvious, but people would be surprised how many seemingly legitimate companies certainly in St. Maarten couldn’t pass that test.
On the other hand, the Tax Department, Social and Health Insurances SZV and the Receiver’s Office all need to be more efficient when it comes to assessments and collection. Demanding fiscal compliance is one thing, but it must also be feasible in practice and reasonably easy.
