DTI-Cebu exceeds business name registration annual target by 18%

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(PNA), LAP/EB/RSM

CEBU CITY (PNA) -- The Department of Trade and Industry (DTI) Cebu has exceeded its annual target in the number of business name registrations by 18 percent, some three months before the year ends.

Official data from the DTI-Cebu showed that there were 11,838 business name registrations from January to September.

This is 18 percent higher than this year’s 10,000 total target.

DTI Cebu Business Welfare Division Chief Zaide Bation said most of the single proprietorship enterprises in Cebu are engaged in food and general mechandise.

Out of the 11,838 business name registrations, new businesses account for 10,199 or 86.2 percent, while renewals are at 1,639 or 13.8 percent.

Total capitalization of these businesses stands at PHP3.39 billion and is expected to generate 19,912 jobs.

The same DTI Cebu data also showed that there were more female business owners, with 6,230 of them.

There were a total of 5,608 male entrepreneurs.

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