Creating Opportunities for Entrepreneurs and the Economy
Starting or growing a business takes time, investment and confidence. Government support can help by reducing costs, simplifying licensing and providing practical guidance at different stages of the journey.
For local entrepreneurs, that support can take different forms – from reduced Trade and Business Licence fees to mentoring and training, as well as changes that make it easier for established businesses to plan for the future.
In the Cayman Islands, eligible small businesses may be able to reduce their Trade and Business Licence fees, access coaching and training through CICBD, or apply for a multi-year licence if they meet the relevant criteria.
Trade and Business Licence Fee Support
Through the Small Business Incentive Programme, eligible micro and small businesses can benefit from reduced or waived Trade and Business Licence fees for eligible businesses, with the level of support varying according to the size and location of the business. This can reduce the cost of obtaining or renewing a licence for eligible businesses.
Alongside financial incentives, entrepreneurs can also access practical guidance and business development support through the Cayman Islands Centre for Business Development (CICBD), which offers programmes, mentoring and training to help businesses at different stages of their journey.
Multi-Year Trade and Business Licences
Eligible locally owned and operated businesses can apply for Trade and Business Licences lasting up to five years, subject to the Board’s risk and compliance criteria. By reducing the need for annual renewals, the initiative helps reduce administrative burdens while giving eligible businesses a longer licence period for planning. Find out more about multi-year licences
Looking Ahead
Entrepreneurs and small businesses play an important role in Cayman's economy, creating jobs, introducing new ideas and providing goods and services across the Islands.
From reduced licence fees and multi-year licences to mentoring and business development support, practical assistance is available to help local businesses at different stages of their journey.
Explore available support for small businesses, including incentives, mentoring and multi-year licences, on gov.ky/economy.
