Businesses in Davao remain stable: DCIPC

THE Davao City Investment Promotions Center (DCIPC) reported a survival rate of 84.68 percent among businesses in Davao City in 2013.

Based on the Economic Situationer and Outlook for Davao City in 2014 released by DCIPC, it showed that of the 35,826 registered businesses in 2012, 30,339 have renewed in 2013.

The situationer states the “survival rate in 2013 is within the norm for the past five years and is a reflection too of stable business environment.”

The data showed that from 2008 to 2012, business survival rate remained above 80 percent. In 2008 the survival rate was at 90.41%, in 2009 at 82.48%, in 2010 at 82.73%, in 2011 84.22%, and in 2012 85.09%.

DCIPC officer-in-charge Ivan C. Cortez said a decline in the survival rate is nothing to be worried about since compared to other cities, Davao City is performing quite well.

“Our survival rate is comparatively higher than other cities. Usually the survival rate is around 65% to 75%.” he said.

Cortez said the high business survival rate shows that the business climate in Davao is doing well and the businesses are “enjoying their profits.”

During the period of business permit renewals, Business Bureau officer-in-charge Lawrence D. Bantiding said it is expected that not all businesses will be renewing their business permits for various reasons like the business may have shut down already.