88,000 new online businesses registered with DTI in 2020

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Department of Trade and Industry (DTI) secretary Ramon Lopez said 88,000 new registrations for online businesses – a record number – were posted in 2020.

DTI secretary Ramon Lopez

“Amidst the pandemic, there are still many opportunities we can find and discover. In fact, newly-registered businesses increased to 900,000 as of Dec. 17, 2020. That is the highest growth rate of 41 percent since 2010,” Lopez said in mixed English and Filipino during the launch of “DiskarTech Ipon Galing”.

Lopez said new entrepreneurs can tap various DTI programs to help them become smarter entrepreneurs. One such program is the Kapatid Mentor ME, which focuses on mentorship, access to capital, and expanding the markets.

He also urged entrepreneurs to save money they earned from their business and re-invest it in their venture. “We need to have that mindset of becoming prudent. We have to save from our income. We just don’t spend it for ourselves, but we spend the money for our business,” he added. — Kris Crismundo (PNA)

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