The trading sector in Palawan topped the list of the most number of business names registered to the Department of Trade and Industry (DTI) with 2,477 on record, it reported recently.

The profile matrix of the DTI-Palawan showed that of the total figure, the wholesale and retail trade, and repair of motor vehicles and motorcycles registered the most number of business names.

Welson Paz, DTI specialist, said the increase of applicants in the trading sector was caused by the increased demand in construction materials, including the quarrying.

“Yong building, kalsada, mga construction materials na binibenta ng mga nagtitinda, ‘yon ang madalas na ginagamit. Sa quarry kasi kasama rin siya sa retailing,” Paz said.

Under the sector, the wholesale and retail trade and repair of motor vehicles topped the list with 55 registered businesses, wholesale trade — except motor vehicles and motorcycles — followed with 111 registered firms, records show.

Retail trade that included sari-sari and grocery stores had 2,311 registered firms, he added.

DTI data also recorded that for the services sector, 2,303 had registered last year, of which accommodation and food services activities contributed the largest number at 810.

Paz said the growth in the tourism industry of Palawan is a contributing factor as business owners were encouraged to register their establishments.

Paz said that as of January 2019, there is a noticeable increase in registration of business names under the trading sector.

“Based sa amin sa January, more on trading pa rin ang nagpa-register sa amin, bihira na ‘yong sa accommodation, meron pa naman pero hindi na ganoon kasi dati sabay-sabay ‘yan sila,” he added.

He also reminded owners that business names will only be good for five years and they must renew the registered name before it expires.

Failure to renew gives an opportunity for other businesses to take their business names, Paz pointed out.