Saturday, February 27, 2021

DTI-LDN Launched Online BN Registration Kiosks

(Friday, 19th of February 2021)

 

Iligan City – DTI-LDN launched the online business name (BN) registration kiosks at the DTI Office on February 19 in Iligan.

A business name is a name your business is known by, it refers to any name, other than your true name, that you use in connection with your business. Your business name will be used daily,so you must pick the right one and register it with the Department of Trade and Industry (DTI). Business Name Registration provides the business a legal identity. It is important to have a BN and protect it by registering it. DTI has always promoted online registrations of BN’s even before this pandemic happened, and it has been proven to be more effective and efficient than actual visits to the establishment for registration.

DTI-Iligan initiated the installation of kiosks outside the establishment for clients that have challenges with online registration such as unavailability of equipment and connectivity issues. DTI-Provincial Director, Ruel B. Paglipan, stated that this widens the options of registration. We have ONLINE (everywhere or anywhere as long as there is a PC or smartphone available and there is an internet connection), we also now have the ASSISTED ONLINE REGISTRATION (these kiosks that are launched), in addition to the traditional FACE-TO-FACE REGISTRATION. PD Paglipan also mentioned the benefits of utilizing the online registration such as no more face-to-face transactions, decreasing the chances of transmitting viral infections considering our situation with the “new normal”; this also promotes technology utilization, taking advantage of technology; and targeting for a one-stop-shop concept for clients’ convenience. PD Paglipan stated: “Makadumdom ko sauna, early 90’s, six months ayha ma-register ang BN, kay kinahanglan pa siya i-file sa local office, i-padala pa sa Manila and paaboton pa siya mobalik diri sa atoa and it would take weeks. Then eventually nahimo nalang one-week ang process, then this, within 30 minutes or less, ma-register na imong BN (I can remember before, early 90’s, it would take six months to register a BN, because it would need to be filed with the local office, then it would be sent to Manila and we have to wait for it to be returned here and it would take weeks. Then eventually the process would be completed within one week, then this, within 30 minutes or less, your BN would be registered.)”

DTI-Iligan are encouraging every micro, small, and medium businesses to register their BN and to do it online. For faster processing and safer transactions.

Why register your BN?

Establish Business Bank Accounts

You need to have proof that your business is legit and is registered to the city to open a bank account. A business bank account is a crucial asset to a business so you can separate your personal activities from your business activities. It is also professional to give your customers and clients a business name for payment instead of your full name.

Getting Loans

When you apply for small business loans, you need to have proof that you’re a legal business. Lenders and investors would ask for your business registration along with other requirements before approving a loan. If you apply for a credit card as a business, creditors would ask for your registration paperwork.

Taxes And Liability

Registering your BN ensures the legitimacy of your business as a legal operation. It also ascertains your compliance with legal standards for accounting and bookkeeping. This determines that the business is paying taxes and that the business is reporting income to the government.

Reputation With Customers

Customers and clients need assurance that you are a legitimate business. Knowing your business is legal would put your clients at ease when spending money with your company.

Supplier Arrangements

If you plan to get government contracts for your company, business registration is one of the first requirements to join biddings.

Other uses of BN:

  • Business cards and office forms
  • All marketing materials and advertisements
  • Business documents
  • All business loan documents
  • Possibly the domain name for your business website
  • All contracts and agreements

For more information and for registration, please visit: www.bnrs.dti.gov.ph

 

– Kristoff S. / CIO-Web

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