CEBU CITY, Jan. 19 (PNA) — The Department of Trade and Industry (DTI) Cebu provincial office has issued a total of 13,770 business names in Cebu in 2014, an official said.
Zaide Bation, DTI Cebu consumer welfare and business regulation division chief, said this was the second highest registered in the past 14 years, the Department of Trade and Industry said.
Bation said DTI Cebu issued 12,261 business names issued in 2013.
The year 2011 registered the highest at 14,050 business names, Bation said.
“We have actually reached our target in 2014, which is to register 13,000 businesses,” Bation said.
Bation said this is equivalent to a total capitalization of P5.42 billion and 29, 221 jobs, still higher than the P1.01 billion capitalization and 22,064 jobs generated in 2013.
Business name registration since October 2008 for single proprietorships only as corporations are no longer required to register their business names with DTI.
Although there’s no official analysis made yet to study the growth, Bation said DTI Cebu’s Business Name (BN) Mobile last year helped a lot and allowed the informal sector to be recorded in DTI’s database.
During the BN Mobile last year, DTI officials went around different cities and municipalities in Cebu to register unregistered business establishments.
DTI Cebu Provincial Director Nelia Navarro advised entrepreneurs to register their businesses so they can get access to trainings, seminars and programs as they will be placed in the agency’s database. (PNA)