New T&B applications shoot up in 2020
(CNS): There were 3,861 applications for new trade and business licences in 2020, a near 23% increase in applications for new start-ups from 2019. Despite the impact of the COVID-19 pandemic, the Department of Commerce and Investment (DCI) reported a significant increase in applications for both renewals and new business licences last year as people took advantage of the free licences.
The Trade and Business Licensing Board processed 14,890 trade and business applications in 2020, compared to 11,634 in 2019, which included new grants, renewals and amendments.
“DCI saw an increase in new businesses in 2020 as a result of government temporary waiver of trade and business licencing applications fees,” said Deputy Director Mitzi Watson-Jervis. “We are still seeing a growth in applications, which has caused some delays in processing both ordinary and expedited applications.”
While government welcomes the surge of entrepreneurial effort, officials said that a lot of incorrect information is being uploaded onto the online system.
“We would like to appeal to applicants to carefully review information to ensure efficient processing,” Watson-Jervis said, asking the public to be patient with the department as they expect to get back to normal turnabout times by the end of March.
Applications for T&B licences can be submitted online at here.
Contact DCI for TBL and other licensing information via info@dci.gov.ky
Category: Business, Small Business
My t&b won’t be renewed in 2021 since there are no tourists so let’s just wait to see what it washes out to be. I renewed early in 2020, wish I hadn’t and saved that $$.
Sign of COVID seen in other places. Good to see that people are still working for and taking a risk on themselves in Cayman and not waiting to be ‘rescued’ by a job from someone else. (Or a CIG handout.)
Thought heroine was illegal?
Good work DCI keep it up!!!
Curious to know if there is a categorisation of which industries the licenses are being applied in.
Sorry, useful information is not for public consumption.
Protected by blanket FOI cover.
DCI website has a list of licensees get off the internet and work it out for yourself
Wow that’s crazy so many businesses. That team needs a bonus.
A team of people needs a bonus for processing an average of 7-8 applications an hour? Where do I sign up?
Having to vet applications, verify KYC, prepare for approval, ensure appropriate permissions are in place, ensure DNFBP registration (if applicable) is complied with – it isnt anywhere near as easy a job as you assume. The salary scales are archaic and are way below market for roles that are high volume and are not easy.
Well said 11:43
I work close to the persons in DCI. I only wish my team was engaged as those guys. I’m in the private sector. Yes there are some public servants that need to go they pull everyone down. But when you have people working through COVID to ensure businesses remain open. All I can say is well done to a team I hope someday will rub off in other parts of CIG.