Businesses registered with the Department of Trade and Industry for the year have so far reached over 100,000.
Department of Trade and Industry Secretary Ramon Lopez said total business registrations for this year have already hit more than 108,000. Last year, a total of 916,163 businesses registered with the DTI, up from 637,567 in 2019.
Online businesses registered with the DTI, meanwhile, reached more than 86,000 in December from just 1,700 in the January to March 15 period last year.
While the number of businesses registered with the agency shows how entrepreneurs are adjusting to the new normal due to the coronavirus pandemic, Lopez said there is still a need for these enterprises to differentiate themselves to compete in the global market.
To help businesses, he said the DTI has been providing assistance through different micro, small and medium enterprise development programs.