CITY OF SAN FERNANDO, Pampanga, January 30 (PIA) -- An 8.17 percent surge in business name (BN) registrations was reported by the Department of Trade and Industry (DTI) Central Luzon in 2023, showing that business environment in the region remains vibrant.
This as DTI reported a total of 128,498 BNs registered from January to December 2023, significantly higher than the 2022 tally at 118,791 BN registrations.
DTI OIC-Regional Director Brigida Pili said this can be attributed to the full implementation of the online Business Name registration process, which took effect in August last year.
“The increase indicates a positive response from our business owners in registering their business names. With the simplified online process, more businesses, particularly MSMEs [micro, small, and medium entrepreneurs], have conveniently legitimized their businesses by just using their electronic devices,” she said.
The online process, she said, is intended to help accelerate the digital transformation of MSMEs and is pursuant to Republic Act 11032 or the Ease of Doing Business Act.
Of the 128,498 BNRs tallied, 112,916 were new business name registrations, while only 15,582 were renewals.
Among the provinces in the region, Bulacan registered the highest number of business names with 39,605. This was followed by Pampanga with 30,564 registrations; Nueva Ecija– 20,907; Tarlac– 13,659; Zambales– 11,534; Bataan– 9,572; and Aurora– 2,657.
“Walk in applicants are still welcome, but we direct them 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),” Pili explained.
Payment of BN registration can be done through GCash, Paymaya, LandBankLinkBizPortal for those with LandBank accounts, through credit or debit cards, or through over-the-counter 7-11 and Bayad Centers.
The fee is pegged at P200 for barangay; P500 for city/municipality; P1,000 for regional; and P2,000 for national. A documentary stamp tax of P30 shall be added per application processed.
BN registrations are regulated under the Business Name Law Act 3883 and have a validity of five years but can be renewed as early as 180 days before its expiration. (CLJD/MJSC-PIA 3)
