Business name registrations down 4% in March
Business name registrations and renewals filed with the Department of Trade and Industry (DTI) declined by 4 percent in March, largely due to double-digit percentage decreases in entries from wholesale and retail trade as well as manufacturing sectors.
Data from the DTI business name registration system showed that listings during the month had dipped to 86,414 from 90,035 a year ago.
Of the total, 77,029 were new registrations while 9,285 were renewals.
Month-on-month, it recorded a sharper decline of 21.29 percent, from 109,786 in February.
Listings from the wholesale and retail trade sector continued to account for the majority at 52.56 percent, though the entries declined by 15.86 percent to 45,417 from the 53,979 recorded in March last year.
The accommodation and food service sector ranked second with a 14.21 percent share, with registrations falling by 5.62 percent to 12,282.
Manufacturing placed third with a 5.47 percent share, posting a 22.54-percent decline to 4,729.
Entries for businesses engaged in real estate, which hold a 5.09-percent share, also decreased by 4.64 percent to 4,398.
Transport, storage boom
In contrast, the transportation and storage sector, which holds a 4.29 percent share, saw a 28.27-percent increase to 3,793 registrations.
Calabarzon (Region IV-A) still had the highest number of registrations at 16,686, which accounted for 19.31 percent of the total.
This was followed by the National Capital Region with 13,949 and Central Luzon (Region III) with 12,161.
New registrations and renewals in 2024 reached 1.06 million, marking a 7.9 percent.
The DTI’s business name registration system was initially launched in 2019. It had undergone streamlining before being fully implemented in 2023.
