Business name registration spikes in 2023 – DTI 3

NEWS, Regional

Business name registration spikes in 2023 – DTI 3

By TVN
January 30, 2024
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The Department of Trade and Industry Central Luzon reported a significant increase in business name registration for the past year. For 2023, the total number of Business Name (BN) registered with DTI-3 reached 128, 498. This is 8.17% higher than the total number of business names processed in 2022 at 118,791.

DTI – Bulacan office registered the highest number of BNs with 39,605 followed by Pampanga with 30,564 and Nueva Ecija with 20,907. Tarlac reported 13,659 while Zambales had 11,534. DTI – Bataan registered 9,572 BNs and Aurora with 2,657.

For 2023, 87.87% or a total of 112,916 Business Names processed were new registrations while 12.13% or 15,582 were renewals. BN registrations are regulated under the Business Name Law Act 3883 and have a validity of five (5) years but can be renewed as early as 180 days before its expiration.

Starting August last year, DTI implemented a full online Business Name registration process. The move was intended to help accelerate the digital transformation of MSMEs and is pursuant to Republic Act 11032 or the Ease of Doing Business Act.

OIC DTI-3 Regional Director Brigida T. Pili said that the significant increase of new BN registration may be attributed to the full implementation of the online process. She said, “the increase indicates a positive response from our business owners in registering their business names. With the simplified online process, more businesses, particularly MSMEs, have conveniently legitimized their businesses by just using their electronic devices.”

While walk-in applicants at Negosyo Centers and DTI offices are still welcome, they are directed to use either their devices or designated computer units to independently file and process BN registration applications through the BNRS website (https://bnrs.dti.gov.ph).

Director Pili also said that payments for the registration can also be made online through GCash, PayMaya, Landbank, Credit/Debit Cards or over-the-counter 7-11 and Bayad Centers. Business Name registration fees are as follows: barangay, PHP200; city/municipality, PHP500; regional, PHP1,000 and national, PHP2,000. A documentary stamp tax of PHP30 shall be added per application processed.