Business name registrations experienced a significant decline in June, with a 48% drop to 37,041 compared to the same period last year, when 71,578 registrations were recorded. This decrease is notable, with new registrations accounting for 32,848 of the total, while renewals made up 4,193. The decline in June registrations marks a notable shift in business activity.
In contrast, the first half of the year saw a 4.82% increase in business name registrations, with a total of 659,747 registrations recorded. Of these, 558,245 were new registrations, while 101,502 were renewals. This uptick in registrations suggests a growing trend of entrepreneurial activity.
The method of registration also reveals interesting insights, with 550,333 registrations filed online, and 101,595 submitted in person. Furthermore, women-led enterprises accounted for 60.27% of the total registrations, with 397,615 filings. This indicates a strong presence of women in the business sector.
Industry-wise, the wholesale and retail sector reported the highest number of registrations, with 369,919 filings as of July 7. This was followed by accommodation and food service activities, with 89,232 registrations, and real estate activities, with 36,524 registrations. Other notable sectors include manufacturing, with 34,146 registrations, and other service activities, with 27,330 registrations.
Regional data also provides valuable insights, with Region IV-A, or Calabarzon, recording the most registrations at 116,830. Central Luzon followed closely, with 88,006 registrations, while the National Capital Region recorded 85,021 registrations. The Ilocos Region and Central Visayas also saw significant registration numbers, with 38,777 and 34,923 filings, respectively.
