THE Department of Trade and Industry (DTI) 7 is eyeing more entrepreneurs to register their businesses online as the agency ramps up its campaign on the use of the online business name registration system (BNRS Next Gen) via bnrs.dti.gov.ph.

Using the online system, sole proprietors can register their businesses in less than 15 minutes.

The public can now file both new and renewal business name (BN) applications, pay fees, download and print their Certificate of Business Name Registration using their mobile phones or desktop computers.

This expedites the registration process and avoids the queuing in DTI offices and its Negosyo Centers, said DTI Cebu provincial director Esperanza Melgar.

The digital system provides convenience to the transacting public, she said.

Melgar sees an eventual increase in online transactions among sole proprietors.

For new registrations, an applicant of at least 18 years old has to fill in basic information and verify availability of proposed business names through the matrix of BN structure, using of explicit and Intellectual Property Office registered words, to avoid confusingly similar names and others.

A DTI business registration is valid for five years.

Business owners can now also renew their registrations as early as three months before and as late as three months after the date of expiration.

The registration fee is based on geographical divisions—P230 in the barangay level while P2,030 in the national level. For late renewals, a 50 percent surcharge on the registration fee is imposed.

The website’s digital payment service providers include GCash, PayMaya and Landbank Link.Biz.

On Dec. 16 to 27, 2019, DTI Cebu implemented a BN teller holiday to encourage the use of the digital system.

During the period, no over-the-counter registration transactions were done by the provincial office.

Instead, applicants had been advised to register online.

The BNRS Next Gen is a web-based portal that allows end-to-end BN registration for sole proprietors.

The digital payment initiative bodes well with the Bangko Sentral ng Pilipinas’ goal to increase digital transactions in the country to 20 percent by 2020 under the National Retail Payment System.

This initiative is in compliance with Republic Act 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018. (CSL)