This table provides metadata for the actual indicator available from Vanuatu statistics closest to the corresponding global SDG indicator. Please note that even when the global SDG indicator is fully available from Vanuatuan statistics, this table should be consulted for information on national methodology and other Vanuatu-specific metadata information.
| Definition |
The indicator “Number of Business Licenses Issued by Industry” measures the total number of business licenses issued by the Department of Customs and Inland Revenue, disaggregated by major industry and year. It reflects formal business registration activity across the economy. |
|---|---|
| Concept |
The indicator draws on the concept of formalisation of economic activity, which is a critical element of inclusive growth and regulatory governance. A business license is a formal recognition that an entity is permitted to operate within a specific sector under national regulations. Tracking business licenses by industry allows policymakers to monitor trends in entrepreneurship, sector growth, and regulatory compliance. |
| Rationale |
Monitoring business license data provides insights into the scale and composition of registered economic activity. Increases in license issuance may indicate economic dynamism or improved enforcement, while declines may reflect barriers to formalization. Disaggregating the data by sector supports targeted policy interventions, such as reducing registration burdens or promoting priority industries. |
| Method of Computation |
Sum the number of licenses issued per year for each major or minor industry category, based on official licensing records from the Department of Customs and Inland Revenue. Exclude renewals if only new registrations are of interest. Formula: Business Licenses Issued by Industry (I, year Y) = ∑ Number of Licenses Issued for Industry I in year Y |
| Unit of Measurement |
Number |
| Frequency of Collection |
Annually |