Region 3 business climate upbeat – DTI

THE Department of Trade and Industry (DTI) expressed optimism that business climate in Region 3 (Central Luzon) remains upbeat, based on its 2022 report.

DTI Regional Director Leonila Baluyut noted that business name registrations (BNRs) from January to December last year reached a total of 118,791 covering the region’s seven provinces, which is 4.9 percent higher than the total number of 113,214 business names processed in 2021.

The surge [in BNRs] means that more residents are venturing into entrepreneurship, which could bring investments and generate more jobs in the region. This is a positive sign as we continue to adapt to the new economic atmosphere,” she said.

Of the 118,791 BNRs tallied last year, Bulacan registered the most number of business names with 35,523, followed by Pampanga with 28,625 registrations; Nueva Ecija, 18,998; Tarlac, 12,820; Zambales, 10,504; Bataan, 9,648; and Aurora, 2,673.

Baluyut said of the total number, 88 percent or 105,107 business names processed were new registrations while the remaining 12 percent or 10,384 were renewals.

In terms of the mode of registration, 95,943 BNRs were transacted online through the Business Name Registration System, which was 10.29 percent higher compared to online registrations in 2021.

Baluyut encouraged entrepreneurs to register their businesses by going to the DTI Regional Office, Provincial Offices, and the 140 Negosyo Centers across the region.

For convenience, she said, businesses may opt to use DTI’s online facility, which can be accessed through https://bnrs.dti.gov.ph.

Payment of BNR can be done online through GCash, Paymaya and LinkBizPortal for those with LandBank accounts and through credit or debit cards, or over-the-counter through 7-11 stores and Bayad Centers.

BNRs are regulated under Republic Act 3883 or the “Business Name Law” and have a validity of five years but can be renewed as early as 180 days before its expiration.