The Department of Trade and Industry (DTI) in Region 5 (Bicol) is urging small, micro and medium enterprises (MSMEs) in the region to register their business names to avail of government support and services.

In an interview on the sidelines of the regional roadshow “Promoting DTI Business Name and Securities and Exchange Commission (SEC) One-Person Corporation Registration” on Wednesday here, DTI-5 Regional Director Dindo Nabol said registering a business name is like giving legal status and more opportunities to one’s identity.

“It’s so important that they legalized their business otherwise, hindi sila maka avail ng complete set of services ng mga government agencies, hindi sila maka transact ng mga businesses like for loans (they cannot avail the complete set of services of government agencies, they cannot transact businesses like for loans). How can they avail of these financing programs if they’re not registered? They cannot go out and expand to the maximum. We encourage them to come out to provide their needed assistance,” Nabol said.

He said DTI has implemented a full online business name registration process that is part of the agency’s efforts to accelerate digital transformation.

“We are implementing 100 percent online registration but for those who don’t know the process, we assist those walk-in applicants using their devices or computer units to proceed with the registration. We do not accept cash payments, it’s all through digital payments,” he added.

Nabol said their records showed significant increases in business name registration from 2022, 2023, and the first quarter of 2024.

DTI-5 recorded 17,000 for 2022; 21,000 for 2023; and 16,000 for the first quarter of this year.

The DTI’s one-day regional roadshow has been conducted in Laguna. The next locations will be Tarlac, La Union, and the National Capital Region.

Meanwhile, Nabol said the recently conducted Orgullo Kan Bicol (OKB) regional trade fair in Shangri-La Plaza Mall in Mandaluyong City brought in more than PHP13 million in sales.

“We exceeded the target of PHP10 million, we generated PHP13 million initially since others weren’t able to submit the report. Bicol products have evolved and have become world-class as these products underwent a series of intensive product development before the exhibit,” he said.

Nabol attributed the high sales to the display of wider product lines from wearables and homestyle, processed foods, and health and wellness products that delighted the buyers. (PNA)