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Increase in territory’s registered businesses compared to 2012

The Commerce Department’s fiscal year 2014 fourth quarter performance report —covering the period of July 1- Sept. 30, 2014 — states that there is an increase in the number of registered businesses in the territory compared to calendar year (CY) 2012.

 

Based on DOC’s Economic Development Division database, the report says a total of 4,453 business licenses were registered at Treasury Department’s Revenue Branch indicating an increase of 7.85% compared to the FY 2014 third quarter with 4,129.

 

However, if compared to 3,416 in calendar year 2013, it reveals a significant increase of 30.36% or additional business activities of 1,037. “This indicates a positive business activities growth trend,” the report points out.

 

It also reveals that 1,439 new business license applications were processed and approved, based on Business License Applications Status Report as of Sept. 30, 2014.

 

The top three business activities for the 4th quarter are: farming at 85; retail stores with 26 and commercial transportation with 25. Other business activities include beer vendors, snack shops, import & export, day care centers and fast food.

 

Also in the 4th quarter, there were 225 sole ownership businesses, 46 partnerships and 30 corporations.

 

For the period of Jan. 1 to Sept. 30, the top five business activities are farming with 202; retail stores at 140; commercial transportation at 99; import & export at 54; and sewing shops with 51, according to data in the report.

 

Looking at data for Manu’a alone, DOC’s office there, as well as the database, shows that between January and September this year, there were 85 registered business licenses, according to the performance report.