THE Department of Trade and Industry (DTI) has recorded an increase in the business name registration brought about by the intensified campaign of the agency in partnership with the local government.
Garry Micubo, business name processor of the DTI provincial office, said they have recorded 5,405 registration of business name since January, this year.
Micubo said the record since January, this year, is higher by 2,031 compared to that of the entire 2017 with only 3,374 registration of business name.
He said most of the businessmen who registered business names are into retail, followed by food and services.
The retail business included convenience and community stores or commonly known as "sari-sari" store; food covers eateries, restaurants and catering; and services included laundry, water refiling stations and others.
Micubo said one of the advantage in registering a business name is that they can avail the assistance of the DTI in terms technology transfer and others.
He said the business name and the corresponding fee are as follows: Barangay level, P230 including documentary stamps; city level, P530 including documentary stamps; regional level, P1,060 with documentary stamps; and, national level, P2,060 including documentary stamps.
Micubo explained that a business name registered in the barangay level can only be used in the village where the establishment is located; city level in the entire city; regional level in the region; and, national level, anywhere in the country.
The validity period of the business name registered with the DTI is five years.
The registration of business name is pursuant to Republic Act 3883 otherwise known as the business name law. (Bong Garcia/VoxPop Philippines)