Aligning Value Creation and SME Competitiveness in the Export of Maritime Services: Empirical Evidence from Trinidad and Tobago

The multifaceted composition and preponderance of small and medium-sized enterprises (SMEs) participating in the services sector create unique challenges for specialization, productivity, and innovation, particularly in the export of maritime services. Three issues distilled from the literature are (i) servitization of SMEs, (ii) diversification during periods of uncertainty, and (iii) value creation cluster initiatives as a stimulus for enhancing SME competitiveness, in a circular economy. Aligning value creation and SME competitiveness could drive maritime services export. This paper examines whether SME service-providers could improve competitiveness through value creation and cluster initiatives in the export of maritime services in Trinidad and Tobago (T&T). A survey was conducted in the Leisure Marine Services Cluster. Acquired data on five value creation determinants (namely, repair accuracy, concurrent engineering, quality standard, quality assurance, and quality control) were analyzed using Statistical Package for the Social Sciences (SPSS). Empirical evidence shows that repair accuracy and quality standard had positive estimates, with reliability coefficients above 0.70. The application of cluster initiatives would support the development of a value creation program and enhance SME’s competitiveness in T&T.