A total of 73 new business name registrants applied through the Negosyo Center located in DTI 10 office alone on January 3 and 4 this year, Trade and Industry Development Specialist Jill Marie Tadlas confirms.

This initial volume of business name applicants says it all: it is not advisable to submit requirements on the last minute. In line with this, DTI 10 Consumer Welfare Division Chief and Lawyer Fel Lester Brillantes urges “businessmen to renew their Business Name Registration early at DTI to avoid getting caught in the rush to beat the January 20 deadline set by local government units for the renewal of Business Permits.”

The trade department’s business name registration is one of the requirements needed by business owners to complete their business permit. Entrepreneurs also need not to worry about long queues days before the deadline. Brillantes assures business owners that the “renewal of DTI Business Names can now be acquired in a span of only thirty minutes.”

New business name applicants need to submit duly accomplished application form and to present one (1) valid government-issued Identification card (ID) complete with the registrant’s name, photo and signature. Varied fees also apply to different categories. For Barangay level, registrants need to pay 200 pesos; 500 pesos for City/Municipality level; 1,000 pesos for Regional level; and 2,000 pesos for businesses which extends up to the national level. Applicants also need to pay 15 pesos for the documentary stamp.

Above all the requirements already mentioned, entrepreneurs who wish to modify their business ownership should surrender their original Business Name certificate and submit an affidavit of waiver. For business owners who wish to cancel their businesses, they need to surrender the original Business Name certificate and to submit an affidavit of cancellation.

Meanwhile, representatives who are tasked to file in behalf of the owner need to bring with them an authorization letter; one (1) original valid ID bearing the owner’s signature; and his or her own original valid ID. Registrants residing in Cagayan de Oro can also submit their requirements to DTI Misamis Oriental Provincial Office Negosyo Center located at the Ground Floor of State Investment Trust Incorporated along Tiano-Hayes Streets, Cagayan de Oro City.