Connect with us

Hi, what are you looking for?

News

Sari-Sari stores dominate new business-name registrations in 2022

BW FILE PHOTO

THE DEPARTMENT of Trade and Industry (DTI) said Wednesday that it registered 827,491 new business names this year, accounting for 88.8% of new registrations.

“The business activity of most of the BN (business name) registrations, based on the Philippine Standard Industrial Classification, is retail selling in sari-sari stores with 180,406 processed applications,” the DTI said in a statement.

This was followed by restaurants and mobile food services and real estate with 75,391 and 32,764 registrations, respectively.

A total of 104,606 applications were for renewals, bringing total new registrations to 932,097 this year.

The department reported in 2020 total BN registrations of 916,164, followed by 867,647 in 2021.

“In 2022, total number of business names was 7.4% higher as compared to last year, and is considered a record-breaking year,” the DTI said.

Trade Secretary Alfredo E. Pascual noted that the rising number of sole proprietors registering their business names is “a positive sign” of recovery from the pandemic.

“We are pleased that more sole proprietors have undertaken the necessary first step of registering their businesses, starting with their business names,” he added.

“As we constantly integrate technology in the improvement of our services, the department is working closely with the DICT (Department of Information and Communications Technology) to fully implement an end-to end registration, in support of e-governance measures to achieve a more efficient public service delivery and better experience for our citizens,” he said. — Arjay L. Balinbin

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Editor’s Pick

<?xml encoding=”utf-8″ ??> Ava Whetstone-Magee, the founder of Avalanche Equestrian talks about the lightbulb moment which led her to start her business at the age...

Editor’s Pick

<?xml encoding=”utf-8″ ??> The exodus of workers from the jobs market over the pandemic has weakened prospects for Britain’s economic growth, the governor of...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Will Polston, talks to Business Matters about how helping ambitious owners to maximise their potential has resulted in him becoming a finalist...

News

Elon Musk talks about his company’s Starlink project at the Mobile World Congress, Barcelona, Spain, June 30, 2021. — BRISA PALOMAR / PACIFIC PRESS/SIPA...

News

PHILSTAR FILE PHOTO The National Economic and Development Authority (NEDA) has approved seven “high-impact” projects, ranging from agriculture to transportation, the agency’s top official...

News

Television (TV) advertising is shifting toward addressable TV, a service that allows advertisers to show different ads to different audiences watching the same program,...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.