ALBAY EXPERIENCES UPSURGE IN BUSINESS NAME
REGISTRATION FOR Q1 OF 2008
With the local economy starting to recover from the devastating effect brought about by super typhoon Reming in the last quarter of 2006, a remarkable 432 or 53.40% increase in Business Name registration has been noted during the first quarter of 2008 as compared to the same period in year 2007. During the latter, only 809 businesses were registered which rose to 1,241 on the same period this year.
Corollary to this upsurge, investments generated from business name registrations also increased by 186.20%. From Php 205,173,000.00 total investments for the same period in 2007, it rose to Php 587,191,000.00 in 2008. The high increase in investment can be attributed to the rise in the per capita investment in 2008 which on the average, a business registrant invests P 473,159.55 as compared to only Php 253,613.00 in year 2007.
Another contributory factor to the growth in business name registration in the province is the strict implementation of Local Government Units of applicable business licensing requirements in their respective areas. Special mention are the LGUs of Camalig, Ligao City and Sto. Doming that strictly require DTI Business Name Registration before they issue the corresponding Mayor’s Permit or Business License.
It is also worth mentioning that the basic infrastructure such as power and telecommunications in the province are already back to normal operations as compared during the same period in 2007. It has been quite easy and speedy to process business name registrations this year as the internet is functioning well and there was no recorded long periods of power interruptions as compared in year 2007.
REGISTRATION FOR Q1 OF 2008
With the local economy starting to recover from the devastating effect brought about by super typhoon Reming in the last quarter of 2006, a remarkable 432 or 53.40% increase in Business Name registration has been noted during the first quarter of 2008 as compared to the same period in year 2007. During the latter, only 809 businesses were registered which rose to 1,241 on the same period this year.
Corollary to this upsurge, investments generated from business name registrations also increased by 186.20%. From Php 205,173,000.00 total investments for the same period in 2007, it rose to Php 587,191,000.00 in 2008. The high increase in investment can be attributed to the rise in the per capita investment in 2008 which on the average, a business registrant invests P 473,159.55 as compared to only Php 253,613.00 in year 2007.
Another contributory factor to the growth in business name registration in the province is the strict implementation of Local Government Units of applicable business licensing requirements in their respective areas. Special mention are the LGUs of Camalig, Ligao City and Sto. Doming that strictly require DTI Business Name Registration before they issue the corresponding Mayor’s Permit or Business License.
It is also worth mentioning that the basic infrastructure such as power and telecommunications in the province are already back to normal operations as compared during the same period in 2007. It has been quite easy and speedy to process business name registrations this year as the internet is functioning well and there was no recorded long periods of power interruptions as compared in year 2007.
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