DATA from the Department of Trade and Industry
(DTI) showed that business
name registration, the first
step in starting a single proprietorship business, during
the pandemic year 2020
reached 916,163 or 48.69 percent from 637,577 in 2019.
Notably, the growth was
led by sole proprietorships
that intend to go into online
retail business. Of the total
business name registration,
88,574 approved registrations were for online businesses. This reflected a whopping 5,294 percent growth
from only 1,642 online businesses that registered in 2019.
As of March 15 this year,
DTI business name registration for online businesses
already reached 7,525 or 8.5
percent of the total business
name registration in 2020.
Ruth B. Castelo said the
growth in online retail businesses is driven by most consumers now opting for online
retail shopping instead of going to physical stores for fear
“We have seen the constant rise of online transactions over the last several
years. Together with the increase in the number of online shoppers come the increase in the number of registered online businesses,”
Castelo expressed hope
that online businesses will
respect and fulfill their obligation to consumers to deliver exactly what is purchased
and to make sure that they
have an effective after sales
service provided. The DTI is
also strengthening its rules
and enforcement against unscrupulous traders engaged
in online retailing.
“This will help increase
consumer confidence not only
in their business but also in
online shopping and eCommerce in general,” she said.