Business name registrations increased 5 percent in 2023 to a record 984,332 from 937,431 in 2022, the Department of Trade and Industry (DTI) said over the weekend.
Data from the DTI’s Business Name Registration Division (BNRD) showed that 88 percent or 864,200 accounted for new business registrations, while the balance of 12 percent or 120,132 were business renewals.
The DTI said majority of the applicants applied for and/or renewed the business applications online based on the payment collections received.
Sari-sari store registrations constituted the bulk of the BNR’s top business activity, with 172,905 total registrations in 2023. Following closely are other restaurants and mobile food services activities with 78,174 registrations, and real estate buying, selling, renting, leasing and operating of self-owned/leased apartment buildings, non-residential and dwellings with 41,165 registrations.
Registrations at the barangay-level territorial comprised 60 percent of the total business names registered with 588,118, while 221,620 applications were under the city/municipality territorial scope.
The DTI initiated the full-scale implementation of 100-percent online business name registration in August 2023, to streamline business processes and foster digitalization for small and medium enterprises (SMEs) nationwide.
Walk-in applicants at Negosyo Centers were also encouraged to use either their devices or designated computer units at the DTI offices to independently file and process BN registration applications through the BNRS website.
Other initiatives of the DTI to promote business name registration include the system integration of BNRS with local government units (LGUs) that have their own business permit and licensing systems.
Trade Secretary Alfredo Pascual expressed the department’s unwavering commitment to sustaining its partnership with the LGUs.
“We at the DTI recognize the significant role of our collaborative partnership with the LGUs in simplifying registration procedures and requirements for the benefit of Filipino entrepreneurs, particularly micro, small and medium enterprises,” he said.
