Home Business Business name registration surge in 2019, DTI reports

Business name registration surge in 2019, DTI reports

1169
0
SHARE

A significant surge in the number of business names registered with DTI was observed in 2019, based on a report of the DTI-3 Business Name (BN) office. For 2019, the total number of Business Name registered with the offices of DTI in Central Luzon reached 74,390. This is 4% higher than the 2018 total number of business name processed in Region 3, which reached 71,678.

The DTI Bulacan office and its Negosyo Centers registered the most number of BNs in 2019 with 21,365 followed by Pampanga with 17,002 and Nueva Ecija with 12,211 BNs. The DTI Zambales office and Negosyo Centers processed 8,782 BNs while Tarlac had 8,524. DTI Bataan processed 4,593 BNs while Aurora registered 1,913 business names.

For 2019, 88% or 65,404 of the Business Names processed were new registrations while 12% or 8,986 were renewal. It was also noted that under the Business Name Law Act 3883, a Business Name have a validity of five (5) years but can be renewed as early as 180 days before its expiration.

Regional Director Judith P. Angeles of DTI-3 said that the significant number of new Business Name registration is a good sign that residents of Central Luzon are venturing into entrepreneurship to help the economy grow in the region.

She further noted that the expected investment from these new business registrations in Region 3 is around Php 17.72 Billion, higher than the Php 16.15 Billion in investments projected from new BNs in 2018.

In terms of employment generated by these new businesses, the DTI-3 office projects a total of 148,440 new jobs, which is also higher than the 2018 projection of 138,910 jobs for Central Luzon residents.

More than half or 40,320 of the new business name registrants are barangay in scope while 16,884 are municipal in scope. There were also 7,927 business names which were regional in scope while 8,243 were national in scope.

LEAVE A REPLY

Please enter your comment!
Please enter your name here