Philippines sees more new entrepreneurs following pandemic

During the pandemic, the number of newly registered businesses in the Phiippines went up to 916,163 as of December, 2020 - the highest growth rate since 2010. - Bloomberg

MANILA (Philippine Daily Inquirer/ANN): More than 916,000 enterprises registered and renewed their business names under the Department of Trade and Industry (DTI) last year, driven mostly by pandemic-weary entrepreneurs who wanted to start their own mom-and-pop stores or sell products online.

According to the DTI’s Business Name Registration (BNR) Division, total registrations last year reached 916,163, of which 91 per cent were considered new while the rest were renewals.