THE department tallied 839,444 business registrations between January and early November, outpacing the 2019 full year by 32%, Trade Secretary Ramon M. Lopez said in an online event Wednesday.
They generated P475.2 million in business name registration revenue for the DTI (Department of Trade and Industry), up 38% from 2019.
Online business registrations totaled 82,870 from the start of the lockdown in March to Nov. 4. There were only 1,753 registrations for online businesses in January.
The government placed Luzon under lockdown starting mid-March, halting nearly all economic activity. Except for those offering essential services, many bricks-and-mortar stores were shuttered, prompting consumers to turn to online shopping.
“DTI’s end-to-end Business Name Registration System (BNRS) — which we launched last November — more than likely encouraged our people to establish their own business even with the lockdown preventing them from going out,” Mr. Lopez said. — Jenina P. Ibañez