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T&B Licences double since last year

| 18/06/2015 | 2 Comments
CNS Business

Minister of Financial Services, Commerce and Environment

(CNS Business): The number of trade and business licences granted in Cayman have seen a significant climb, doubling since this time last year, according to the  Minister of Financial Services Wayne Panton. 

Panton explained to Finance Committee this week that from July 2013 to the first of May 2014 there were a total of 713 licensed businesses. “Now, as of May 2015, 1,467 trade and business licensed have been granted.” The minister attributes the major increase to an incentive programme that was implemented in August of last year which gave micro and small business owners a reduced licence fee.

“Those businesses are benefiting, the business environment across the board is benefiting,” Panton stated.

However, the minister said they were still working to fix issues over where some businesses are operating.

The programme costs approximately $1.4 million in government revenue.


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Comments (2)

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  1. Anonymous says:

    O please this is just trickery the $75 fee you charge for a new T&B is bunk and bad for business owners
    This allows government to audit and is just not good …..taking advantage thru a back door approach is disgusting especially when the poor people are too stupid to know what you are doing
    Wayne you should be ashamed of yourself
    but you should also get an award for when taxation starts at least you will be able to access the records via the law of small business owners and they will have no choice but to comply because they took the $75 sucker fee instead of paying full price

    • Anonymous says:

      Sorry am I the only one not following this comment? Please take a deep breath and try to make sense this time.

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