The government has made it faster for businesses to complete their registration requirements.
The first national business one-stop shop or NBOSS at the Securities and Exchange Commission last week. NBOSS allows the completion of business registration in nine steps within seven and a half days. The old process, which has 13 steps, usually takes 33 days to complete.
The NBOSS is the physical colocation where applicants can register their business and employees, submit documents and avail of online services.
Apart from the SEC, it also supports the Bureau of Internal Revenue, Social Security System, Philippine Health Insurance Corporation and the Home Development Mutual Fund.
The NBOSS is an initiative provided under the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.