Number of businesses licenses up
Finance Secretary Tracy B. Norita disclosed yesterday that there has been an increase in the number of business licenses issued to business owners in the CNMI in fiscal year 2023 compared to the previous fiscal year.
From October 2021 to September 2022 (fiscal year 2022), there were a total of 8,367 licenses issued; from October 2022 to September 2023, there were 8,613—an increase of approximately 246, said Norita in response to Saipan Tribune’s inquiry.
“This is a positive indicator of economic recovery post-COVID,” she said.
Norita said it is also an indicator of stronger enforcement by the Division of Revenue and Taxation to ensure compliance with licensing laws and regulations.
She added that it shows the willingness of the business community to continue servicing the Commonwealth.
Business license statistics indicate that, of the 8,367 total licenses issued in fiscal year 2022, a total of 4,522 applications were received: 665 were new, 3,484 were renewals, and 373 were amendments.
Of 8,613 total licenses issued in fiscal year 2023, a total of 4,667 applications were received: 741 were new, 3,529 were renewals, and 387 were amendments.
In its breakdown of licenses by industry in both fiscal years 2022 and 2023, Finance disclosed that real estate and rental and leasing was on top, followed by retail trade.
In September 2022, there were 339 licenses issued; in September 2023 there were 568—an increase of 229.
In January 2022, there were 1,281 licenses issued, but in January 2023 there were 1,095—a decrease of 186.
In November 2021, 627 business licenses were issued, but in the same period in 2022 there were 807 issued—an increase of 180.
Tracy B. Norita
