Department of Trade and Industry (DTI) Secretary Gregory L. Domingo has ordered further streamlining of business registration, processes and requirements to make it easier for businesses to operate in the country. The goal is to make a one-day approval for a simple single proprietorship registration.

Domingo said the review of the business registration procedures is undertaken in close coordination with Interior and Local Government Secretary Jesse Robredo, together with the Securities and Exchange Commission and the Intellectual Property Philippines Office (IP Philippines).

“Single proprietorship is simple and should be done in one day, but the more complicated ones like those with different stockholders should be given reasonable time, but there should be specific number of days for each process. We should do it as soon as possible,” Domingo said.

Domingo cited the need to simplify all the requirements, processes and procedures in getting permits and licenses for both the national and local levels.

“We are looking at the Business Name Registration System, how to make it faster and also the Philippine Business Registry (PBR) in close coordination with the SEC and IPO,” Domingo said. The intention is to come up with a central business registry.

The BNRS for single proprietors is the first step in operating a business. A business name is a requirement to get the license to operate from the local government unit where the business is situated. It is the identity of an enterprise to be used in business transactions.

According to Domingo, Robredo has also proposed the imposition of standard fees for business name registration, permits and licenses and come up with common form. The DTI charges P300 for each business name registration. “Am trying to make sense of all these,” Domingo said.

He noted that efforts have been done before to streamline business registration both on the national and local levels in coordination with other multinational institutions, such as the International Finance Corp.

Domingo cited the anti-red tape campaign of the previous administration as a big step forward, but said it needs a follow through.

Following Domingo’s order, DTI-National Capital Region Assistant Secretary Angel Pelayo said their focus in the past week has been the review of its processes and procedures. Pelayo said the agency has already decentralized business name registration before by opening up more facilities where entrepreneurs can register. The DTI even lowered the age limit by which an individual can register a business name from 21 to 18 years old and even temporarily reduced the business name registration to P150 from P300 to encourage more Filipino to go into business.

This time, Pelayo said, the agency is looking at making it a lot easier for business name applicants to pay without leaving their homes like allowing the use of G-Cash facility.

The DTI is also cleaning up its data base of inactive registered business names to enable other people to use the names. Delays have been encountered in the approval of business name registration because the proposed business names have already been previously registered.