SEC-registered companies hit all-time high in 2024

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The number of companies created within the bounds of the Securities and Exchange Commission’s (SEC) regulatory framework reached an all-time high in 2024, the regulatory body said.

The SEC said in a statement on Tuesday it registered a total of 52,304 such companies, up 6 percent from 49,506 in 2023.

This brought the total number of active SEC-registered companies to 527,710 as of end-2024.

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The commission attributed the high number to the “innovative and advanced digital platforms that continue to make doing business easier in the Philippines.” 

“Digital transformation has always been one of the top priorities of the SEC to improve the efficiency of our services,” SEC Chairman Emilio Aquino said.

“Surpassing the 50,000-mark in company registrations serves as a testament that we are on the right track in encouraging entities to legitimize their operations through registration with the Commission,” he added.

SEC records show that stock corporations accounted for 75 percent, or 39,146, of the newly registered companies, while non-stock corporations comprised 21 percent, or 10,782 and partnerships accounted for 5 percent, or 2,376 entities.

“In 2025, we will capitalize on the success of our digital transformation journey and explore other strategies that will bring our services closer to the public to contribute to the further improvement of ease of doing business in the Philippines,” Aquinio said.

Newly registered one-person corporations posted a 27 percent increase to 8,640 from 6,794 in the comparable period.

Nearly 40 percent or 20,231 of the newly registered companies were based in Metro Manila, while 16 percent or 8,226 were located in Region IV-A or CALABARZON, and 12 percent or 6,141 registered their business address in Region III or Central Luzon.

The services sector dominated the new companies numbering 44,872. Wholesale and retail trade, and the repair of motor vehicles and motorcycles segment recorded 12,479 new registrations.

“The SEC has consistently set records in the past three years in terms of company registration, following the start of its digital transformation journey in 2020,” the commission said.

From 2021, at the height of the COVID-19 pandemic, until last year the commission launched various digital and online initiatives aimed at making it easy for investors to register their businesses and companies. 

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