BUSINESS name registrations and renewals filed with the Department of Trade and Industry (DTI) declined by a little over a third in April. This was dragged down by weaker entrepreneurial activity amid lingering economic uncertainties.
Data from the DTI showed that listings in April dropped 34.39 percent to 59,068 from 90,035 a year ago.
The data also showed a steeper decline compared with the 4.02 percent dip seen in March.
Sought for comment, Rizal Commercial Banking Corp. chief economist Michael Ricafort told the Inquirer that the decline could be a reflection of a slower economic growth since 2024.
“The POGO closures and ban could be a factor that reduced business and other economic opportunities,” Ricafort said. He was referring to Philippine offshore gaming operators.
Ricafort cited relatively higher inflation and interest rates as factors that could have weighed on new investments and business formation.
The April data brought the volume of listings during the four-month period to 491,327. This marked a 7.27-percent decline from the 529,848 recorded in the same period in 2024.
Including filings made as of May 7, the DTI has so far recorded a total of 505,685 registrations this year.
Of these, 84.67 percent or 428,183 were new registrations. The remaining 77,502 were renewals.
Business name listings from the wholesale and retail trade sector continued to account for the majority at 56.69 percent at 286,651.
The accommodation and food service sector ranked second with a 13.48 percent share, with entries adding up to 68,157.
Businesses engaged in real estate followed with a 5.76 percent share. Manufacturing accounted for 4.93 percent and other service activities made up 4.09 percent.
Transportation and storage rounded out the top five with a 3.32 percent share.
The Calabarzon region still had the highest number of listings at 91,425, which accounted for 18.08 percent of the total. The region covers the provinces of Cavite, Laguna, Batangas, Rizal, and Quezon.
This is followed by the National Capital Region (NCR), or Metro Manila, with 60,488. Central Luzon had 64,059; Western Visayas counted 33,733; and Central Visayas had 31,717.
The rest of the Top 10 includes Ilocos Region with 31,645, Davao Region with 23,102 and Cagayan Valley with 21,976. Also included are Northern Mindanao with 20,640 and Caraga Administrative Region with 17,753.
The DTI’s business name registration system was initially launched in 2019 and underwent streamlining before being fully implemented in 2023.
New registrations and renewals in 2024 reached 1,061,739, marking a 7.9 percent increase from the 984,329 recorded in 2023.
The numbers have varied over the previous years, totaling 937,423 in 2022, 867,647 in 2021, and 916,164 in 2020. (Alden M. Monzon © Philippine Daily Inquirer)
