878 new business applications during pandemic
(CNS): Despite fears that Cayman’s economy is collapsing as a result of the COVID-19 pandemic, the Department of Commerce and Investment (DCI) said it has dealt with 878 new trade and business licences, since 25 March. Alongside the 3,083 renewal and 277 amendment applications, the new licences have led to delays in the processing time by the Trade and Business Licensing Board.
DCI described the demand as “extraordinary”, having processed and issued over 4,000 T&B licences in four months. While government approved a temporary reduction in fees for trade and business licensing a from 1 May until the end of this month as well as a waiver of late fees, it is not clear what is fuelling the surge in new business applications.
The DCI said it was working hard to improve its service, despite the problems it has faced from the impact of COVID-19.
“Before this public health emergency, DCI was focused on improving the customer experience and reducing wait times. We have not lost that focus,” said a representative of the DCI. “The Board is working assiduously to keep up with an extraordinary demand at this time alongside some limitations we have due to COVID-19. We are therefore asking members of the public to have some patience when applications are made or when enquiring about applications.”
The public can visit the Department of Commerce and Investment website, here for trade and business licensing and other information.
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Category: Business
Is this really heathly for the labor market especially if we introduce more work permitts.
It may Also mean the price of labor could dicrease dominio effect minium wage while costa if living increase.
This smells like Pension Money being invested wisely. Thumbs up!
How many are new construction labor companies that are getting new licenses after they folded up their old company since they were exposed for not paying health or pension? Just start right back again – business as usual!
BINGO! And the governor grins and tells us how well governed we are, and the commissioner tells us the crime situation is stable.
The Gov grins and bobbles his head like one of the dolls in a back window of a car but as far as getting anything spectacular done – forget that!
Hey! He got an RAF Voyager A330 sent all the way here to deliver 14 people and some uniforms – fairly spectacular when your consider the cost per head of flying that aircraft all the way here. Would have been cheaper in fuel to charter a private jet, cheaper still to put them on the next BA air bridge flight, but hey – UK tax payer money. Don’t say he’s a bobble head – bet you don’t have the push to get a 150m quid aircraft sent 4500 miles just demonstrate who is in charge.
Shut up foreigner as we have a right to be in business and it is really expensive to pay all those things.
World class performance!!
Most likely some of these applications are the opportunistic setting up to sell bogus COVID 19 PPE and snake oil remedies.
If that was the case why would they even bother getting a business license?
Oh dear, jealously is still and thriving!! I wish all the business owners well.