CEBU, Philippines - The Department of Trade and Industry registered more sole proprietorships in Cebu last year, attributed to the establishment of negosyo centers in various parts in the province.
Official data furnished to The FREEMAN showed that a total of 15,588 business names — both new and renewed — were registered by the agency last year, up 4.5 percent from 14,920 registered in 2015.
Zaide Bation, business regulation head at DTI-Cebu, said the increase can be attributed to the availability of negosyo centers in different municipalities and cities in Cebu.
Business name registration is also seen to further pick up this year as more negosyo centers are eyed to be opened in Cebu.
This also mirrors Cebu’s vibrant economy which attracts more businesses to start.
Cebu's business name registration had grown an average 12 percent for the last 14 years.
In 2016, the aggregate capitalization of registered sole proprietors in Cebu totaled P3.8 billion, up from P2.3 billion in 2015.
In 2014 total capitalization amounted to P5.4 billion.
A total of 25,799 jobs were generated last year, up from 25,428 in 2015.
The DTI official cited that food, real estate and construction were the top three sectors last year in terms of the number of registrants.
In particular, a total of 4,689 food enterprises were registered last year.
Most of the enterprises registered are involved in retailing while others are into the services sector.
Traditionally, BN registration picks up in the first quarter of the year, while December normally posts the lowest number of registration.
A business name lasts for five years and has to be renewed if the enterprise is to be continued.
The DTI targets to open at least 16 more negosyo centers in Cebu this year.
At least 11 of the 16 will be put in Cebu municipalities considered as Yolanda areas. Meaning these are the towns affected by super typhoon Yolanda in 2013.
These include the municipalities of Bantayan, Madridejos, Medellin, Tabuelan, Sogod, Borbon, Tabugon, San Francisco, Poro, Tudela and Pilar.
The remaining five negosyo centers will be established on Moalboal, Danao City, Argao, Toledo City and Balamban town.
Last year, at least nine negosyo centers in Cebu were established, including the four other Yolanda areas namely Sta. Fe, San Remigio, Daanbantayan and Tuburan. Negosyo centers in Carcar City, Dalaguete, Consolacion, Lapu-Lapu City and UP Cebu were also put up last year; they are also already present in Bogo City ane DTI's regional and provincial offices in Cebu.
The goal is to have a negosyo center in every city and municipality in Cebu by 2018.
The negosyo center can register business names, offer advisory to aspiring entrepreneurs, and help existing enterprises link their products to potential markets, among others.
The presence of the negosyo center can potentially increase the number of registered businesses in a town where it is present.
Republic Act 10644 or the Go Negosyo Act mandates the creation of negosyo centers across the country to help grow the micro, small and medium enterprise (MSME) sector which accounts for around 99 percent of registered businesses in the Philippines.
The law says that negosyo centers must facilitate ease of doing business in the country and access to services for MSMEs.
Aside from accounting for most registered businesses, MSMEs also make up for most jobs created in the country. (FREEMAN)