DTI eases rules for start-up businesses

Published by rudy Date posted on March 16, 2009

MANILA, Philippines – In an attempt to further encourage entrepreneurship, the Department of Trade and Industry (DTI) announced that it will implement the automatic renewal of business name registrations even without applications for renewal.

Trade Secretary Peter B. Favila stated that in view of the displacement of Filipino domestic and overseas workers brought about by the global financial crisis, aside from the automatic renewal, DTI is also implementing measures to avoid queuing in DTI offices.

“To make it even easier for those interested to start their own business, we are announcing that all new applications for business name registration together with the other requirements shall be received by the concerned DTI office or officially designated areas,” Favila said.

“This means that upon application, DTI shall process and issue the BN certificate upon proof of payment within five working days following the day of submission,” he added.

Department Administrative Order 09-02 Series of 2009 amending the Provisions of DTAO No. 80, S.1982 on business name application, renewal and cancellation states that to uphold the business enterprise as the basis of economic growth and promote increased entrepreneurial activity, DTI is automatically renewing all business name registrations that are due for renewal.

The DTI has been continuously implementing programs aimed at encouraging business activities and generating employment. Earlier this year, it reduced its business name registration fees by half.

From Jan. 15 to July 15, all those applying for a new business name or renewing an existing business name shall be charged a registration P150 or 50 percent lower than the original fee of P300.

Likewise, the DTI is mobilizing all its bureaus and attached agencies through the Comprehensive Livelihood and Emergency Employment Program or DTI-CLEEP to provide livelihood assistance to Filipinos who have been affected by the current global financial crisis.

DTI-CLEEP is in place to assist would-be-entrepreneurs as to instruction on basic business skills, product and packaging design assistance, market exposure and access, financing etc,” Favila noted. – Ma. Elisa P. Osorio, Philippine Star

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