Firms play a key role in development through investments, engaging in trade, creating jobs, increasing productivity, and providing a wide range of goods and services needed to improve living standards. However, because of crime, Caribbean firms see their annual sales reduced by 6 percent.
Undoubtedly, crime is an issue of concern for policy makers and citizens in the Caribbean. An average of 40 percent of the Caribbean population identifies crime and security-related issues as the main problem facing their country, even above poverty, the economy or inequality. Indeed, to develop a dynamic and innovative business, firms ought to invest more resources in research and development than on crime prevention. The average expenditure on research and development by Caribbean firms represents 3.17 percent of total sales, which is lower than the 4.37 percent reported for crime-related expenditure.