Business name list-ups hit 900,000 as of Oct

MANILA  -The Department of Trade and Industry (DTI) on Friday said it recorded more than 900,000 new business name registrations from January to October this year, with the government agency hoping it would hit 1 million listings for the whole of 2023.

Phillip Joseph Roque, the chief of the DTI’s Business Name Registration Division said that registration during the 10-month period had reached 902,597, already close to last year’s record of more than 937,000.

“Most of these are sari-sari stores, those in retail trade,” Roque said during a press conference in Makati showcasing the signing of the agreement between the DTI and eight local government units (LGUs) to integrate their business registration systems.

Trade Secretary Alfredo Pascual signed the memorandum of agreement with representatives from each of the LGUs of Baguio City, Balanga City in Bataan, Bislig City in Surigao del Sur, Butuan City in Agusan del Norte, San Pedro City in Laguna, Bacolod City in Negros Occidental, Carmona City in Cavite, as well as the municipality of Guiguinto in Bulacan.

“This partnership through system integration demonstrates our strong commitment to simplifying our registration procedures and requirements for the benefit of Filipino entrepreneurs, particularly for micro, small, and medium enterprises,” Pascual said in his speech during the signing ceremony.

Pascual said the integration of their Business Name Registration System (BNRS) with the respective Business Permits and Licensing System (BPLS) of each LGUs are in line with the directive of President Ferdinand R. Marcos Jr. to steer the country toward digital transformation.