The Department of Commerce and Investment has processed and issued more than 1,450 trade and business licences since 25 March. This includes 305 new licences, 1,014 renewals and 136 licence amendments.
Commerce Minister Joey Hew commended the department for processing the large number of licences within a short timeframe.
“DCI continues to go over and beyond to ensure business owners are able to meet requirements where current licences are being requested to obtain exemptions and financial assistance,” he said in a press release.
The team meets weekly and board meetings are continuing, with the help of technology.
“I cannot underscore enough the importance of small businesses to our Islands,” Hew said. “In the past few weeks, government has renewed the small business incentive grant programme, temporarily waived trade and business licensing application fees for some 3,000 business and also provided assistance of over $14 million … to support relief measures for micro and support businesses.
“We will continue to find ways to provide further support to businesses owners affected by this global pandemic,” Hew added.
Government recently approved the Trade and Business Licensing (Temporary Reduction in Fee) Regulations 2020, which waives the payment of application fees for businesses, from 1 May to 31 July.
In addition, late fees from 1 March to 31 July have been waived for all applicants.