Online Business Thriving as 88k Registered with DTI in 2020

Record-breaking numbers in business name registration was reported by the Department of Trade and Industry (DTI) on Wednesday as more continue to find sources of income amid the coronavirus disease 2019 (COVID-19) pandemic.

DTI Secretary Ramon Lopez said during the virtual launch of “DiskarTech Ipon Galing” that 88,000 new online businesses were registered with the department in 2020.

As more people work from home and get used to being inside their respective houses during the Enhanced Community Quarantine, the registration of online businesses grew from 1,700 registrations between January and March when the number of COVID-19 cases in the Philippines was just starting to surge, to 88,000 at the end of 2020.

“Amidst the pandemic, there are still many opportunities we can find and discover. In fact, now the pandemic in 2020, the newly-registered businesses increased to 900,000 as of Dec. 17, 2020. That is the highest growth rate of 41 percent since 2010,” Lopez said in mixed English and Filipino, according to PNA.

The trade chief added that it is in DTI’s best interest to help new business owners become smarter entrepreneurs.

“DTI will always be here for you to help you find the right business so that you can become smarter entrepreneurs,” he said.

Lopez said DTI programs are available that may help business owners experience better growth with programs such as “Kapatid Mentor ME”, DTI’s mentorship program, along with other programs that offer access to capital, and market expansion. (GFB)