More firms set up for 4th straight year

The Department of Trade and Industry (DTI) in Cebu recorded 9,288 business name registrations for single proprietorship enterprises in the first half of the year, a 17-percent increase from the same period last year.

Of the number, 8,161 are new business name registrations, while 1,127 are renewals. But total capitalization in the first semester hit P1.2 billion, a 52-percent decline from the P2.3 billion capitalization recorded in the same period last year.

Food business, general merchandise and transportation topped the number of businesses registrations in the first six months of 2017.

During the first semester, businesses generated 13,867 jobs, where men composed 59.4 percent of workers, while women took up 40.6 percent of the jobs.

Since 2013, DTI Cebu has recorded an increase in business name registrations. The highest recorded was in 2011 with 14,000 business names registered for the whole year.

DTI Cebu consumer welfare division chief Zaide Bation previously said she expected business name registrations to be higher than last year, given the presence of Negosyo Centers scattered across Cebu Province.

Maria Elena Arbon, DTI Cebu director, said the trade agency will open 13 more Negosyo Centers in the province this year, bringing the total number to 24 before the year ends.

At least 11 out of the upcoming centers will be in the Yolanda-devastated towns, while the other two will be in the municipalities of Moalboal and Balamban. A DTI business name lasts for five years and has to be renewed. Business owners can choose to renew their registration online through the DTI business name registration service on its website www.dti.gov.ph.