A report prepared by DTI Bataan Director Nelin Cabahug, showed that these businesses include micro, small and medium enterprises which employed 2,998 persons last year.
Meanwhile, DTI urged establishment owners in Central Luzon to renew their business name early to avoid hassle. “The early renewal will enable them to facilitate their application for business permit with their respective local government units and requirements with other national government agencies,” DTI Regional Director Judith Angeles said.
Business names have a lifetime of five years and can be renewed six months before expiration.
The reminder was made by DTI to help businesses avoid penalties when the current business name is renewed late.
Local government units may also disapprove business permit applications using expired business name registration. “For new business names, we encourage you to visit our provincial offices to inquire on the requirements,” Angeles added.
Surge of applicants is always expected during the first quarter of the year for it coincides with the application for business permits with local government units and requirements of other agencies under the Philippine Business Registration System namely Bureau of Internal Revenue, Pag-IBIG, Social Security System, and PhilHealth.
Last year, Central Luzon ranked third with the most number of new business name registration after Metro Manila and CALABARZON.