Online business registration soars 5,294% in 2020

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    As electronic commerce adoption grows, the number of online businesses that registered with the Department of Trade and Industry (DTI) in 2020 surged 5,294 percent, data from the agency showed.

    The DTI registered 88,574 online businesses in 2020, versus 1,634 in 2019.

    The online businesses accounted for 32 percent of the total 278,586 enterprises registered by the agency last year.

    As of March 15 this year, the DTI has registered another 7,525 online businesses.

    The DTI said it has seen the constant rise of online transactions over the past several years but with the pandemic, most consumers opt to shop online rather than go to physical stores.

    Together with the increase in the number of online shoppers, the DTI also has recorded an increase in the number of registered online businesses.

    DTI registration ensures the legitimacy of an online business which is obligated to deliver to consumers the exact product and service purchased. An online business is also expected to provide after-sales service.

    The DTI said adhering to these practices will help increase consumer confidence not only in the online business but also in online shopping and e-commerce in general.