DTI SAYS ONLINE BUSINESS REGISTRANTS JUMP TO 75K AS OF SEPTEMBER 2 FROM 1,700 AS OF MARCH 15
The Department of Trade and Industry (DTI) on Tuesday said business name registration of online businesses has surged to more than 75,000 as of early September from a measly 1,700 before the start of lockdowns mid-March.
The DTI said online business registrants ballooned to 75,876 as of September 2 from 1,753 in January to March 15 —before the beginning of the community quarantines.
“The silver lining in COVID-19 is the accelerated adoption of e-commerce. Hence, the DTI is also increasing our efforts to promote e-commerce by building trust between consumers and merchants, and focusing on the digitalization of our micro, small and medium enterprises (MSMEs),” Trade Secretary Ramon Lopez said.
Lopez further explained that the DTI saw a drastic increase during the lockdown period when business name applications reached 9,692 in May, and further peaked in June when over 33,000 business names were registered.
Meanwhile, based on the latest data released by the DTI’s Business Name Registration Division (BNRD), the total number of business names registered in the agency as of September 2 reached 712,657, up 12% from the total business names registered for the entire 2019 recorded at 637,690.