The Securities and Exchange Commission -Tarlac Extension Office (SEC-TAREO) recorded a 28.5 percent increase in firm registration for the second quarter of 2023.

A total of 635 entities were registered by SEC-TAREO last quarter including 136 regular stock corporations; 237 non-stock corporations; 38 partnerships; 40 one-person corporations (OPC) and 184 companies with less than five incorporators, compared to the same period in 2022 with only 494 newly registered companies.

SEC-TAREO Director Richard R. Laus said the increase in company registration is attributed to the ease of doing business initiatives of the Commission offering a faster and easier registration through the Electronic Simplified Processing of Application for Registration of Companies (eSPARC) facility that caters to online applications for the registration of one-person corporations (OPCs) and stock and nonstock corporations.

Out of 635 entities registered last quarter, 81% or 514 companies came from Central Luzon, with the province of Pampanga receiving the highest number of registered entities at 204 followed by the provinces of Tarlac and Nueva Ecija with 98 and 72 entities, respectively.

Meanwhile, the remaining 19% of the newly-registered entities came from the province of Pangasinan, the Cagayan Valley region and the cities of Metro Manila.

“By introducing a modernized and more efficient way of doing business to our stakeholders, we are very optimistic of sustaining these accomplishments for the remaining months of the year,” Laus said.

SEC-TAREO also conducts monthly online orientation on the submission of annual reportorial requirements and the process of amendments to its newly-registered firms.