THE Department of Trade and Industry (DTI) in Negros Occidental has urged enterprises in the province to process their business name registration now to avoid long queues and crowding in January next year.
Engiemar Tupas, officer-in-charge chief of the Industry Development Division of DTI-Negros Occidental, said the Negosyo Center in Bacolod City is open only until today, December 27. They will resume operation on January 2 next year.
Tupas said they are catering to enterprises for the renewal of their business name registration or those who want to apply for new one.
“All enterprises engaged in business regardless of capitalization are mandated to get their business name registration from the DTI,” he said, adding that processing ahead would prevent overcrowding in January where most businesses usually apply for renewal.
Valid for five years, business name registration provides legal personality to the enterprises.
Government and private agencies usually assist enterprises that are legit, Tupas reiterated, adding that enterprises can actually process their renewal 180 days prior to the expiry of the registration.
Tupas pointed out that though the penalty for failure to process or renew is “minimal,” erring establishments can be subjected to closure as business name registration is one of the requirements for a business to obtain a Mayor’s Permit from their respective local government unit.
“Let’s avoid the rush in January, register now,” he told local enterprises.
In terms of requirements, registrants are required to bring only photocopies of their valid identification cards.
For registration fee, the agency collects P230 from businesses within the barangays and P530 for those in cities and municipalities. The fee is P1,030 for regional businesses, and P2,030 for those national in scope.
Aside from that in Bacolod City, enterprises may also process their business name registration in other Negosyo Centers in cities of Sipalay, Kabankalan, Himamaylan, La Carlota, Bago, Talisay, Silay, Victorias, Cadiz, Sagay, Escalante and San Carlos.
The DTI has also established Negosyo Centers in towns of Hinoba-an, Cauayan, Binalbagan, Isabela, La Castellana, San Enrique, and E.B. Magalona.
Data obtained earlier by SunStar Bacolod from DTI-Negros Occidental showed that it 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.
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 increase in number of business name registration has been attributed to the province’s growing economy and its business-enabling environment.
These drive up the creation of more enterprises, Tupas said.
“In effect, more enterprises result to generation of more employment in the province,” he reaffirmed.