DTI sets new record for business name registration outside NCR
In its steadfast drive to promote inclusive growth and boost economic activities in the countryside, Department of Trade and Industry (DTI) recorded an increase in the number of businesses registrations outside the National Capital Region (NCR).
“We are pleased that our goal to equally drive business opportunities in the country’s regions is now being realized,” DTI Management Services Group Undersecretary Nora K. Terrado said.
Terrado noted this is the first time in the history of DTI’s online Business Name Registration System (BNRS) that the largest number of registration was recorded outside NCR.
For this year, Region 4A already recorded the highest number business name registrations with 8,728 new and 1,392 renewal transactions, or 18 and 16 percent respectively of total registrations. NCR placed second with 5,453 new registration or 12 percent, and 771 renewals or 9 percent. Region 3 ranked third with 4,175 new registrations or 9 percent, and 963 renewal transactions or 11 percent.
On November 24, 2014, DTI launched the online early renewal of business name registration through Business Name Registration System’s (BNRS) website at bnrs.dti.gov.ph. This initiative allows sole proprietors to process renewal of business name registration three months before its expiration. Within the said period, online updating of business profile is allowed and free of charge. In the old manual system, change of business name information can only be done through DTI tellers for a fee of P65.00 per transaction.
Since the launch of the online early renewal of business name registration, a total of 4,757 online early renewal transactions were processed. That is 475 for December last year, 3,003 for January 2015 and 1,279 as of February 23, 2015.
Terrado also noted that women entrepreneurs are more optimistic about the business environment in the countryside with the increase in number of female business registrants for January this year. Female business registrations are at 29,854 or 54 percent of the total sole proprietorship business name registrations.
Female empowerment was largely felt in Regions 4A with 6,332 registrations or 21 percent of total registrations, followed by National Capital Region (NCR) with 3,530 registrations or 12 percent and Region 3 with 2,782 or 9 percent.
“The DTI intends to rollout further online initiatives that would integrate business registration-related processes across business registration agencies to facilitate ease of doing business, promote transparency, curb corruption, and reduce red tape in the bureaucracy,” Terrado said. (END)