The Department of Trade and Industry (DTI) announced a 6.07-percent increase in business registrations in the first half of 2024, reaching 679,118 compared to 640,254 in the same period last year.
It attributed the growth to various factors including the rise of online businesses, the resilience of traditional enterprises and a thriving entrepreneurial environment in regions like CALABARZON.
“These impressive figures highlight the entrepreneurial spirit of Filipinos and the effectiveness of our initiatives to create a business-friendly environment. The DTI remains dedicated to supporting both aspiring and existing businesses by providing essential resources and guidance,” said DTI Secretary Alfredo Pascual.
A notable trend is the growing popularity of online businesses, as emphasized by Trade Undersecretary for Digital PH Group (DPG) Mary Jean Pacheco.
“This aligns with the DTI’s ongoing efforts to streamline the online registration process, making it easier for entrepreneurs to establish their ventures.,” she said.
The DTI registered a record 984,330 business names in 2023, up 5 percent from the previous year’s 937,457 registrants.
Pascual said the surge in entrepreneurial activity reflects growing confidence in the Philippine economy and the unwavering determination of Filipinos to pursue their business goals.
He said the DTI would continue to encourage aspiring entrepreneurs to seize available opportunities and contribute to the nation’s economic growth.
The department also aims to maintain the positive momentum and further empower the Filipino business community with ongoing support and initiatives, he said.
