How to register your business
Indeed, necessities force individuals to think of ways to earn a living. But before going into business, whether online or offline, the first thing to do is register your business. This is for your own protection and ensure growth.
If your business is a single proprietorship, which applies to micro and small businesses, think of a unique business name and register with the Department of Trade and Industry. If it is a corporation, you have to go to the Securities and Exchange Commission.
A business name is critical because it guarantees your legal and exclusive right for its use within a five year-period, renewable thereafter. No other can use it or register the same name depending on the scope of territory of the business.
The registration of business name has been available online since February 2019 and the process will take only a few minutes.
Here are the steps to register your business name online through the Business Name Registration System https://bnrs.dti.gov.ph.
Government agencies are also synchronizing all processes up to payment. For convenience, make your online payment immediately during your DTI business registration via e-wallet, mobile banking like LANDBANK Link.BizPortal, or any payment platform such as PayMaya or GCash.
Take note though that a business name is not a license to run a business. You’ll need to secure a business permit and other related documents for that purpose.
With your business name certificate, you may now proceed to your city or municipality to get your Mayor’s Permit, that is your license to open a business.