CEBU, Philippines – Business name registration in Cebu continued to grow in the third quarter of 2015, with more than half of enterprise registrants involved in retailing.
Data from the Department of Trade and Industry obtained by The FREEMAN showed Cebu enterprises registered by the agency in Q3 reached 3,574, up 4% from 3,447 in the same period last year.
However, the total investment cost recorded during the quarter went down 59% to P643.5 million from P1.6 billion in last year’s comparable period.
Total investment by businesses registered from January to September 2015 amounted to 1.8 billion, generating a total of 19,867 jobs.
The DTI data indicated that construction, pension house and beach house are among big-ticket enterprises registered.
Zaide Bation, consumer welfare and business regulation chief at DTI-Cebu, projected yesterday an increase of printing and other election-related enterprises in the coming quarters, leading to the national elections in May next year.
“We also see increased investments and employment,” Bation said.
Majority of registered businesses are located in Cebu City, followed by Mandaue City and Lapu-Lapu City. The rest are operating in various towns in Cebu.
Last year DTI registered 13,770 business names in Cebu, surpassing its 13,000 target and higher compared to 12,261 listed in 2013.
This year DTI targets to register 14,876. (FREEMAN)