DTI to improve local business registration to draw more entrepreneurs

In an effort to encourage more Filipinos to put up businesses, the Department of Trade and Industry (DTI) will be launching a localized business registration scheme that will allow entrepreneurs to register in their own localities.

According to Trade Secretary Gregory Domingo, the new scheme, dubbed BN Made Easy, will be based on four geographic divisions: barangay (village), city or municipality, regional, and national.

This new scheme further amends the Revised Implementing Rules and Regulation of Republic Act 3883, or The Business Name Law.

Under the localized scheme, a registrant could use the registered business name within the territory of choice, regardless of the number of branches or outlets to be put up within the given territory.

The DTI expects barangay-based businesses, which comprise 95 percent of all registered enterprises, to benefit from the new process, as it will significantly reduce the number of man-hours devoted to registration.

In an earlier interview, Trade Undersecretary Cristino Panlilio said the DTI has been rallying all its regional offices to make their areas as business-friendly as possible, to encourage people to put up businesses and invest in the country.

He said the DTI would be holding national conferences to ensure that all of its personnel had that ``business-friendly, investor-friendly’’ mindset.

In the Board of Investments, for example, he related that the application process for investments has been streamlined, cutting the previous 20 days required to process an application to just 10 days.


"The BOI is always open to entertain and immediately process applications for investments. We also have the Nerbac (National Economic Research and Business Action Center) to help investors start their businesses here,’’ he said.

Nerbac, the frontline service of the BOI and the successor of the One-Stop Action Center, generated P10 billion in potential investments from 19 firm leads in the first half.
During the period, the Nerbac provided assistance to 635 potential investors via face-to-face counseling, telephone conversations, and e-mail exchanges. (PDI)

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