Business name listings breached 30,000 in Dec

Business name registration and renewals filed at the Department of Trade and Industry (DTI) in December breached the 30,000 mark, as players in the retail sector continued to make up more than half of the roster.

Data from the DTI said that the number of listings during the month reached 30,145, pushing the year-to-date figure to 1,056,054 as of Dec. 20.

This was 7 percent greater than the full-year figure of 984,330 in 2023.

The DTI began the full implementation of its online business name registration process in 2023, in a bid to streamline their listing processes.

Last October, Trade Undersecretary Blesila Lantayona told the Inquirer that business name registrations have been “on a consistent increase.”

“Given this positive trend and our ongoing efforts, we are optimistic that we will surpass the highest number of registrations recorded last year,” Lantayona said.

Of the total so far this year, 933,906—or 88.43 percent—were new registrations, while the remaining 122,148 were renewals.

Mom-and-pop shops

Businesses engaged in the wholesale and retail trade, many of which are small neighborhood shops or sari-sari stores, as well as the repair of motor vehicles continued to make up the majority of registrations.

The listings from this sector reached 576,341, or 54.57 percent of the total.

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The accommodation and food service category followed with 147,485 filings, manufacturing with 60,138, and real estate with 52,284.

Transportation and storage as well as the administrative and support category are also among the top sectors with 44,638, and 40,088, respectively.

In terms of location, the Calabarzon region continued to lead with the highest number of registrations at 201,297, which is 19.06 percent of the total.

The National Capital Region came in second with 16.86 percent or 178,031 business names.