The total number of business names registered in the country so far has surpassed the total number of registered firms last year, according to the Department of Trade and Industry (DTI).

In a statement on Tuesday, Trade Secretary Ramon Lopez said that based on data released by his department›s Business Name Registration Division, the number of business names registered as of September 2 reached 712,657, up 12 percent from 637,690 in 2019.

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