• Politics
  • Economy
  • Stock
  • World News
  • Editor’s Pick
Investments Aims

BUSINESS NAME registrations fell 8.9% year on year in July to 79,316, the Department of Trade and Industry (DTI) said, with analysts attributing the decline to the ban on Philippine Offshore Gaming Operators (POGOs).

According to the DTI’s business name registration system, 69,709 were new business name registrations in July, while 9,607 were renewals.

In the first seven months, registrations amounted to 708,336, down 7.5%. Of these, 607,129 were new business names while 101,207 were renewals.

Rizal Commercial Banking Corp.  Chief Economist Michael L. Ricafort said the POGO exit, could have reduced the number of new ventures or suppliers catering to the operators.

“The resulting slowdown in the real estate sector in terms of higher vacancies after the exit of POGOs could have also (disrupted) the supply chains of some property companies, thereby slowing down new business ventures that would have otherwise serviced them,” he added.

He said the new US tariff regime could have reduced the appetite for opening new businesses.

“Higher US tariffs and other protectionist policies could have led to some caution, especially from the point of view of some exporters and those belonging to the supply chains of global exporters,” he said.

“This may have slowed down new investment and expansion plans, global trade, employment, and overall world economic growth,” he added.

US President Donald J. Trump imposed a 19% duty on goods from five members of the Association of Southeast Asian Nations.

The new rate will take effect on goods coming from the Philippines, Cambodia, Malaysia, Thailand, and Indonesia starting Aug. 7.

Some 84.42%, of business registrations were filed online, while 13.6% were done through a combination of online and on-site transactions.

Women-led businesses accounted for 60.26%, or 429,574, of the total registrations.

Region IV-A accounted for 129,971 registrations, followed by the National Capital Region and Region III, which had 94,645 and 92,991, respectively.

Some 351,176 registrants were engaged in retail trade, excluding motor vehicles and motorcycles.

Also topping the registration list were companies engaged in food and beverage services, real estate, other personal activities, and wholesale and retail trade and repair of motor vehicles and motorcycles. — Justine Irish D. Tabile

0 comment
0
FacebookTwitterPinterestEmail

previous post
Alaska Milk not expecting to raise prices this year
next post
Proposed flood-control budget reduced 26% to P275 billion

You may also like

Cracker Barrel rebrand: Why companies retreat when faced...

August 29, 2025

Trump accused Fed governor Lisa Cook of mortgage...

August 29, 2025

Lego hits record revenue in first half of...

August 28, 2025

Google has eliminated 35% of managers overseeing small...

August 28, 2025

What a stake in Intel could mean for...

August 27, 2025

Frontier Airlines goes after struggling rival Spirit’s customers...

August 27, 2025

U.S. could take stakes in more firms, White...

August 26, 2025

Cracker Barrel assures customers its values remain the...

August 26, 2025

Trump flexes power over big business as U.S....

August 25, 2025

Crop tour projects record 2025 U.S. corn harvest,...

August 24, 2025
Join The Exclusive Subscription Today And Get Premium Articles For Free


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Recent Posts

  • Rubio denies visas to Palestinian leaders for UN General Assembly, citing terror support

    August 29, 2025
  • 2028 looks like trouble for Democrats — and Republicans are poised to capitalize

    August 29, 2025
  • Trump accused Fed governor Lisa Cook of mortgage fraud. That can be hard to prove, experts say.

    August 29, 2025
  • Cracker Barrel rebrand: Why companies retreat when faced with consumer criticism

    August 29, 2025
  • UK, France, Germany trigger UN sanctions on Iran over ‘significant’ nuclear program defiance

    August 28, 2025
  • Terms & Conditions
  • Privacy Policy
  • Contact us
  • About us

Copyright © 2024 Investments Aims. All Rights Reserved.

Investments Aims
  • Politics
  • Economy
  • Stock
  • World News
  • Editor’s Pick