CAGAYAN DE ORO CITY (PIA)–More entrepreneurs continue to pursue business opportunities with the reopening of the economy, as the Department of Trade and Industry (DTI)-10 records a total of 32,651 new business name registrations in 2022.
71.2% of the business name registrations were applied for online, while 28.8% were registered in the DTI offices and Negosyo Centers.
93.6% of the new business name applications were paid through GCash, 3.7% through PayMaya, and 2.7% through other methods such as credit cards, Land Bank of the Philippines Link.BizPortal, and Digipay PH.
In the meantime, 2,995 business names were renewed. Of those, 1,489 were done online and 1,506 were done at the DTI offices.
A business name refers to any name that identifies the enterprise and is different from the true name of an individual.
It is one of the documentary requirements that sole proprietors must meet when registering their business in the Philippines.
As part of its effort to deliver an efficient government service, DTI business name can now be applied online at www.bnrs.dti.gov.ph. Online payment options are also available through GCash, Land Bank of the Philippines Link.BizPortal, PayMaya, debit, or credit. (DTI-10)