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In a few days' time, the Chambre économique multiprofessionnelle (Cem) will hold an election to renew its elected members in the various professional colleges. In anticipation of this election, scheduled for Saturday April 12 from 8am to 5pm, the Cem is unveiling the contents of its report on the economy of Saint-Barthélemy. This document provides an insight into the entrepreneurial world through data collected from the Basse-Terre Commercial Court Registry and the Caisse de prévoyance santé (CPS).
For Cem director Thierry Gréaux, one of the most remarkable points is the "lack of economic diversification in Saint-Barthélemy", as well as its "volatile economy, concentrated as it is on tourism". He explains: "The other dominant economic sectors are strongly positively correlated with tourism. When economic sectors are positively correlated, a positive return in one is usually accompanied by a positive return in the other. But the reverse is also true. Diversification is intimately linked to the notion of correlation. "He cites as an example the construction sector, closely linked to tourism, whose "correlation factor" may however be affected by a downturn due to the territory's fiscal policy.
13,057 new hires by 2024
The data collected from the Registry and SPC relate to 2024. Last year, Saint-Barth had 9,266 businesses, of which 5,767 were registered with the Registre du Commerce et des Sociétés (RCS) as having a commercial activity. 3,042 were sole proprietorships and micro-businesses, and 457 were self-employed. The predominant sectors are real estate and commerce, but everything is driven by tourism," explains Thierry Gréaux. It's the driving force, with the risk of concentration on a single activity. "
The RCS recorded 301 business start-ups in 2024, for which 66 changes of status and 57 deregistrations were notified. In addition, 83 companies were mothballed. These were mainly in the tourism, real estate and catering sectors. "Due to the seasonal nature of the business, but also for tax purposes", assures the director of the Cem.
Saint-Barth is home to 1,240 companies with at least one employee. 6,796 employees (a figure that does not take into account state or local civil servants) were registered on the island in December 2024, for 13,057 hires declared throughout the year. The average gross monthly salary was 2,815 euros for 35-hour contracts. This represents a 19% increase on 2019.
582 compulsory deregistrations
Another aspect of the economic life of companies concerns write-offs and cessations of activity. In 2024, there were 582 ex officio deregistrations, while 794 ex officio cessations of activity were recorded. To understand the reasons behind these decisions, Cem went to meet the clerk of the Basse-Terre mixed commercial court. "We didn't have an overall picture, and we realized that there were several reasons," explains Alina Hamard, in charge of legal missions at the Chamber. For example, the company had closed down, but the owner had not completed the necessary administrative formalities. Or the company changed address, again without taking care to complete these formalities. This resulted in an administrative sanction. It's vital that entrepreneurs complete these formalities," insists Alina Hamard. When they come to the Cem, they can benefit from support to bring them up to date. The fact is that many companies are not diligent in fulfilling their reporting obligations, even though they may subsequently be penalized. For example, the impossibility of concluding a contract or obtaining a loan, because they are considered inactive. Hence the importance of keeping articles of association and K-Bis up to date at all times. "On average, the Chamber handles one case of this type every day.
Thierry Gréaux emphasizes the progress that has been made in Saint-Barth, particularly in terms of addressing. These advances should make things easier for entrepreneurs. The problem with automatic deregistration is that many of these companies are inactive," explains Alina Hamard. In some cases, the entrepreneurs have already left the island. So it's impossible to reach them. So it's in their interest to complete the formalities so as not to be penalized. "
While progress has been noted among entrepreneurs, the Cem director insists that there is still "a lot of work and education to be done" with professionals.
