Driven by new digital entrepreneurs, the Department of Trade and Industry (DTI) reports record-high numbers of business name registration in 2020 said DTI Chief Ramon Lopez on Wednesday, January 20.
At the virtual launch of “DiskarTech Ipon Galing”, DTI Secretary Ramon Lopez said 88,000 new online businesses registered with the DTI at the end of 2020.
The number jumped from 1,700 online business registrations between January and March, which was before the onset of the coronavirus disease 2019 (Covid-19) pandemic.
“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.
He added that new entrepreneurs can tap DTI’s program to help them 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.
The trade chief highlighted DTI programs that can help entrepreneurs to grow their businesses like the Kapatid Mentor ME, which focuses on mentorship, access to capital, and expanding the markets.
Further, Secretary Lopez also urged entrepreneurs to save money they earned from their business and re-invest it in their venture.
“We need to have that mindset of becoming prudent. We have to save from our income. We just don’t spend it for ourselves, but we spend the money for our business,” he added.