THE Department of Trade and Industry (DTI) in Negros Occidental has registered a total of 9,498 businesses from January to April 2019, almost 66 percent higher than 5,724 in the same period last year.
Data obtained by SunStar Bacolod from DTI-Negros Occidental showed that of the total number of registered businesses in the first four months of the year, 8,093 are new while the remaining 1,405 are for renewals.
The highest number of business that applied for name registration was noted in January at 4,158. Of which, 3,468 are new and 690 are renewals.
In February, there were 2,333 new registrants and 299 renewals totaling to 2,632.
For March and April, DTI-Negros Occidental registered 1,663 and 1,045 businesses, respectively.
There were 1,419 new business name registrations and 172 renewals in March while 873 new and 172 renewals for April.
Engiemar Tupas, senior trade and industry development specialist of DTI-Negros Occidental, said business name registration is mandated by law. It provides legal personality to the enterprises.
Tupas said the agency normally records higher number of business name registration during the first quarter of the year because most businesses process their renewals during this period especially January.
“Government and private agencies usually assist enterprises that are legit,” he added.
For the whole of 2018, DTI-Negros Occidental has registered 12,536 businesses in the province, almost 17 percent higher than 10,706 in 2017.
Of the total number of registered businesses last year, 10,894 are new while the remaining 1,642 are for renewals.
Another factor seen to contribute in the increasing number of business name registration in the province is the establishment of Negosyo Centers, which is provided under the Republic Act 10644, or the Go Negosyo Act.
Aside from delivering entrepreneurial and business development interventions to local micro, small and medium enterprises (MSMEs), the facilities are also providing business name registration services.
In Negros Occidental, 23 Negosyo Centers have been established since 2015.
Unlike the previous years, enterprises in some localities outside Bacolod City no longer need to process their business name registration at the latter.
They can already do it through the Negosyo Centers nearest them, Tupas said.
Aside from accepting and facilitating business name registration applications, it provides MSMEs the ease of doing business and facilitates access to grants and other forms of financial assistance, and shared service facilities, among others.
The law also aims to ensure management guidance, assistance, and improvement of the working conditions of enterprises, and facilitate market access and linkage services for entrepreneurs.
Tupas reiterated that the province’s growing economy and its business-enabling environment are driving up the creation of more enterprises.
He said the economy is really doing good as manifested in many developments including the construction boom.
“In effect, more enterprises result to generation of more employment in the province,” Tupas added.
Meanwhile, in terms of requirements, registrants are required to bring only photocopies of their valid identification cards.
The same rate applies for registration fee. The DTI collects P215 from businesses within the barangays and P515 for those in cities and municipalities.
The fee is P1,015 for regional businesses, and P2,015 for those national in scope.