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Manila Bulletin devider Philippines devider New business applications in Manila up by 42%

New business applications in Manila up by 42%

Published Feb 11, 2021 12:22 pm

Applications for new businesses in the City of Manila went up by 42 percent despite the economic impact of the COVID-19 pandemic, the city government reported on Thursday, Feb. 11.

(MANILA BULLETIN FILE PHOTO)

Bureau of Permits Director Levi Facundo said 911 new businesses were logged for 2021 during the period of application and renewal of business permits from Jan. 1 to Feb. 7.

Records from the city government showed that only 642 new businesses were recorded in 2020 while 480 new businesses applied in 2019.

He also noted a slight decline in business permit renewals, saying that only 44,526 processed their business permit renewal.

This is 10.8 percent lower compared to the 49,956 renewals in 2020 and 6 percent lower in 2019 with 47,553 renewals.

Facundo attributed the increase to the city government's programs that were launched to support local businesses amid the pandemic.

"I believe that the more activity we do for the businesses will result in more productivity. Most of these new businesses are fruits from previous events," he said in a statement on Thursday, Feb. 11.

"It is very important to keep the wheel moving—economic cycle or business cycle. That’s why we, in the Bureau of Permits, are engaged in programs supporting local businesses to keep the economic cycle moving," he added.

Facundo said he is hopeful that the new businesses will spur economic growth in the capital city after the COVID-19 crisis.

In September 2020, the Manila city government launched the Manila Support Local campaign to encourage residents to buy from small, local businesses in the city.

Among the projects launched under this campaign were the Manila Restaurant Week and Paskuhan sa Maynila.

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