The number of online businesses that registered for business name surged to 75,876 as of September 2 from 1,753 in from January to March 15 before the declaration of the community quarantine, data released by the Department of Trade and Industry (DTI) showed.
DTI said the total number of business names registered as of September 2 stood at 712,657, surpassing by 12 percent the total business names registered for the entire 2019 at 637,690.
DTI Secretary Ramon Lopez said the data indicate the growing adoption by citizens of digital transactions in government through the online business name registration system (BNRS) where applicants can process registration and make payment in 8 minutes.
Lopez said DTI saw a drastic increase during the COVID period of business name applications, reaching 9,692 in May, and further peaked in June when over 33,000 business names were registered.
“COVID-19 accelerated adoption of ecommerce,” he said, adding DTI is closely working with government agencies and the private sector to address speed, security and structure.