Register Your Business in DTI with Ease: Step-by-Step Guide. Learn how to easily register your business with the DTI. Our guide provides step-by-step instructions on the process, ensuring a hassle-free experience. Start growing your business today!
DTI Business Registration ONLINE: How To Register? (Tutorial 2020)
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Understanding the Process of Registering a Business in DTI
Business registration is an essential step in starting any company, regardless of its size or type. The Department of Trade and Industry (DTI) is the primary government agency responsible for registering businesses in the Philippines. Registrations with the DTI are mandatory, and failure to comply can result in significant penalties and legal consequences.
Many people find the process of registering their business with DTI daunting and overwhelming. In this article, we will provide an in-depth and comprehensive guide on how to register a business in DTI. From the initial steps of preparation to the final registration process, we will cover everything you need to know to successfully register your business with DTI.
Step 1: Determine the Type of Business Entity
Before registering your business with DTI, you must first determine the type of business entity you want to establish. There are several types of business entities to choose from, including sole proprietorship, partnership, corporation, and cooperative. Each type has its unique characteristics and legal requirements, so it is crucial to determine the most suitable type for your business before proceeding with the registration process.
Sole Proprietorship
A sole proprietorship is the most common type of business entity, especially for small businesses. As the name suggests, it is owned and managed by an individual, making it the simplest and most straightforward type of business to set up. However, it also means that the individual is solely responsible for all aspects of the business, including finances, liabilities, and decision-making.
Partnership
Partnership is an arrangement between two or more individuals who agree to share profits and losses from a business. Like sole proprietorship, partners are personally responsible for the debts and obligations of the business. There are two types of partnerships: general partnership, where all partners are equally responsible for the business, and limited partnership, where partners have different levels of liability depending on their contribution to the business.
Corporation
A corporation is a separate legal entity from its owners, meaning it can enter into contracts, own property, and be sued. Unlike sole proprietorship and partnership, corporations have limited liability, meaning the owners’ personal assets are not at risk if the company faces financial difficulties. However, setting up a corporation requires a more complex process and has additional requirements, making it more suitable for larger businesses.
Cooperative
A cooperative is an entity owned and run by its members, who share the profits and benefits of the business. It is similar to a corporation but with a democratic structure, where each member has an equal say in decision-making. Cooperatives are typically formed to provide goods or services to its members and are often found in the farming, fishing, and retail industries.
Note: It is crucial to consult a legal expert or professional when determining the most suitable type of business entity for your company.
Step 2: Choose a Business Name
Choosing a unique and appropriate business name is an essential step in registering your business with DTI. The name must not be already registered by another business and must comply with DTI’s guidelines. Here are some tips when choosing a business name:
- Choose a name that is easy to remember and pronounce.
- Avoid using offensive or misleading words in your business name.
- Make sure the name is not already registered with DTI or any other government agency.
- Avoid using generic or common names, as it can cause confusion among customers.
- Consider your target market when choosing a name.
Once you have a name in mind, you can do a quick search on the DTI Business Name Search database to check its availability. If the name is already taken, you will have to come up with a different one to proceed with the registration.
Step 3: Prepare the Necessary Documents
Before heading to the DTI office, make sure you have all the necessary documents prepared to complete the registration process. Here is a list of the common documents required for business registration in DTI:
- Accomplished Business Name Registration Form (BNRF)
- Two valid IDs (for sole proprietors) or partnership documents (for partnerships)
- Articles of Incorporation and By-Laws (for corporations)
- Articles of Cooperation (for cooperatives)
- Proof of payment of registration fee (Php 200 for sole proprietorship and Php 1,000 for partnerships, corporations, and cooperatives)
Some additional documents may be required depending on the type of business entity and the nature of the business. It is best to check with your local DTI office beforehand to ensure you have all the necessary documents.
Step 4: Register your Business with DTI
Now that you have all the necessary documents, it’s time to register your business with DTI. You can do this by following these simple steps:
1. Visit the nearest DTI office in your area.
2. Submit your accomplished BNRF and other necessary documents to the designated officer.
3. Pay the registration fee.
4. Wait for the processing and approval of your application. This typically takes 2-3 days, but it may take longer during peak seasons.
5. Once approved, your DTI Certificate of Business Name Registration (BNCR) will be issued, and you can now conduct business in the name of your registered business entity.
Step 5: Comply with Other Regulatory Requirements
Registering your business with DTI is just the first step. You must also comply with other regulatory requirements, depending on your business, to legally operate. Here are some other registrations you may have to do:
- Barangay Clearance – this is issued by your barangay’s local government, and it certifies your business’s compliance with all barangay regulations.
- Mayor’s Permit – this is a requirement in most cities and municipalities and is issued by the local mayor’s office. It authorizes your business to operate within its jurisdiction.
- Tax Registration – this includes registering your business with the Bureau of Internal Revenue (BIR) and securing a Tax Identification Number (TIN).
- SSS, PhilHealth, and Pag-IBIG Registration – if you plan to hire employees, you must also register your business with these government agencies for mandatory employee contributions.
Be sure to check with your local government for the complete list of regulatory requirements and documents needed for your business.
Step 6: Renew and Update your Registration
Registering your business with DTI is not a one-time process. You must renew your registration every five years to keep it valid. Additionally, you must also update your registration if there are any changes in your business, such as a change of address, business activities, or ownership.
Step 7: Seek Professional Assistance
Navigating the process of registering a business in DTI can be complicated and overwhelming, especially for first-time business owners. If you are unsure of the process or have any questions, it is best to seek professional assistance from a lawyer and/or business consultant.
They can help you determine the most suitable business entity for your company, ensure all necessary documents are prepared, and guide you through the registration process.
The Importance of Registering your Business with DTI
Some may see registering their business with DTI as an extra step and expense, but it is a crucial process that should not be disregarded. Here are some reasons why registering your business with DTI is essential:
- Legal Protection – registering your business with DTI gives you legal protection and recognition as a legitimate business entity.
- Credibility – having a registered business can enhance your credibility and reputation among customers, suppliers, and potential investors.
- Access to Government Services and Programs – registered businesses have access to government services and programs, such as loans, subsidies, and grants.
- Tax Compliance – registering your business allows you to comply with tax regulations and obtain the necessary tax documents for your business.
In “Register Your Business in DTI with Ease: Step-by-Step Guide”
Industry Impact on Business Registration with DTI
- Increased Accessibility and Efficiency for Businesses
- Streamlined and Simplified Registration Process
- Greater Transparency and Accountability
- Improved Data Management and Security
- Enhanced Business Environment and Competitiveness
Technological Innovations in DTI Business Registration
- Online Registration Portal
- Digital Signature and Authentication
- Electronic File Management System
- Automated Business Name Search
- Real-time Updates and Notifications
User Experience: Benefits of Registering a Business with DTI
- Convenience and Time-saving
- Cost-effective and Paperless
- Increased Accuracy and Efficiency
- Access to Online Resources and Support
- Streamlined Transaction Process
Step-by-Step Guide to Registering a Business with DTI
Step 1: Determine the Type of Business Structure
Before registering with DTI, you need to decide on the type of business structure you want to operate. The most common options are sole proprietorship, partnership, and corporation.
Step 2: Choose a Business Name
Your business name should be unique and not already registered with DTI. You can check the availability of your desired business name through DTI’s Online Name Verification System.
Step 3: Gather Necessary Documents
Prepare the required documents, including valid government-issued IDs, proof of address, and business permits (if applicable).
Step 4: Fill out the Online Registration Form
Visit DTI’s Online Business Name Registration System and fill out the required information. Make sure all details are accurate and complete.
Step 5: Pay the Registration Fee
After completing the online form, you will be directed to payment options. You can pay through various methods, such as credit card, e-wallet, or over-the-counter transactions.
Step 6: Print Certificate of Registration
Once your payment has been confirmed, you can print your Certificate of Registration (COR) from your account on DTI’s website. This serves as proof of your business name registration.
Step 7: Additional Steps for Sole Proprietorship
If you are registering as a sole proprietorship, you also need to secure a Barangay Clearance and a Mayor’s Permit before starting operations.
Step 8: Register with Other Government Agencies (Optional)
Depending on your business nature, you may also need to register with other government agencies, such as the Bureau of Internal Revenue (BIR) and Social Security System (SSS).
Common Queries and Concerns about DTI Business Registration
- Do I Need to Register with DTI if I Am a Freelancer?
- Can I Change My Registered Business Name with DTI?
- What Happens if My Desired Business Name is Already Registered with DTI?
- Can I Register More Than One Business Name with DTI?
- Is There a Deadline for Registering with DTI?
Tips for a Smooth Business Registration Process with DTI
- Ensure All Required Documents are Complete and Accurate.
- Protect Your Business Name by Registering It with DTI.
- Do Extensive Research on Your Business Structure and Requirements.
- Utilize DTI’s Online Resources and Support to Guide You Through the Process.
- Keep Your Business Registration Details and Documents Secure.
“Register Your Business in DTI with Ease: Step-by-Step Guide”. guide provides step-by-step “Register Your Business in DTI with Ease: Step-by-Step Guide”
“Register Your Business in DTI with Ease: Step-by-Step Guide”
Becoming a Registered Business in DTI
Starting a business can be an exciting and fulfilling journey, but it also comes with many responsibilities and legal requirements. In the Philippines, one of the most crucial steps in establishing a business is registering it with the Department of Trade and Industry (DTI). A business’ registration with DTI allows it to operate legally, obtain necessary business permits and licenses, and avail of certain government programs and incentives. In this article, we will delve into the process of registering a business in DTI, the challenges that may arise, success stories of businesses that have gone through the process, and emerging trends in business registration.
Why Register your Business in DTI?
Registering a business in DTI is not just a legal requirement; it also comes with several benefits. Here are some of the reasons why you should register your business with DTI:
- Legitimacy: Registering your business with DTI gives it legitimacy in the eyes of the law. It shows that your business operates according to government regulations and is compliant with all legal requirements.
- Access to government programs and incentives: DTI-registered businesses have access to various government programs and incentives, such as training and development programs, priority lending programs, and tax breaks.
- Ability to transact with government agencies and large corporations: Many government agencies and larger corporations require businesses to be registered with DTI before they can transact with them. By registering your business, you can expand your market and increase your business opportunities.
The Process of Registering a Business in DTI
The process of registering a business in DTI can be broken down into five main steps:
Step 1: Determine the business name
The first step in registering a business with DTI is choosing a unique business name. The chosen name should not be too similar to existing businesses to avoid confusion and legal issues. DTI has an online business name registration system where you can check the availability of your chosen business name.
Step 2: Prepare the necessary documents
Once you have a business name, you will need to gather the necessary documents for registration. These documents include a valid government-issued ID, barangay clearance, and signed application forms.
Step 3: File the application
The next step is to file your business’ application for registration with DTI. You can do this online or in person at any DTI office. In some cases, there may be a need for physical inspection of your business location.
Step 4: Pay the registration fees
After filing the application, you will be required to pay the necessary registration fees. The fees vary depending on the type of business you are registering.
Step 5: Claim your business registration certificate
Once all the necessary steps are completed, you can claim your business registration certificate from the DTI office. This certificate serves as proof that your business is officially registered with DTI.
Challenges Faced in Registering a Business in DTI
Registering a business in DTI may seem like a straightforward process, but it is not without its challenges. Here are some of the common challenges that business owners may face during the registration process:
- Complex paperwork: Gathering all the necessary documents and filling out the application forms can be a time-consuming and complicated process.
- Long wait times: The process of registering a business with DTI can take several weeks or even months, depending on the type of business and location.
- Language barrier: DTI’s application forms and documents are mostly provided in English, which can be a challenge for non-English speakers.
- Limited accessibility: DTI offices are not available in all areas, making it difficult for some business owners to register their business locally.
Success Stories of Businesses Registered in DTI
Despite the challenges, many businesses have successfully registered with DTI and have seen significant progress in their operations. Here are some inspiring success stories of businesses registered in DTI:
- Kalibrr
This online job-matching platform was able to expand its business operations and improve its services after registering with DTI. They were also able to avail of government-sponsored training and development programs, which helped their employees and business grow further. - The Lost Bread
This homegrown ice cream brand was able to increase its sales and reach a wider market after registering with DTI. They were also able to join trade fairs and exhibits, which helped promote their brand and products. - Pulse Clinic
This health and wellness clinic was able to establish partnerships with government agencies and larger corporations after registering with DTI. They were also able to access government-sponsored healthcare programs, which helped them provide better services to their clients.
Emerging Trends in Business Registration with DTI
The process of registering a business with DTI is continuously evolving as the government aims to make it more accessible and efficient for business owners. Here are some emerging trends in business registration with DTI to watch out for:
- Online Registration: DTI has been investing in digital platforms to make the registration process more convenient for business owners. They have an online registration system that allows applicants to inquire, apply, pay, and track the status of their application online.
- Simplified Requirements: In line with their goal of making business registration more accessible, DTI has been streamlining their requirements and simplifying the process for certain types of businesses.
- Mutual Recognition Agreement: DTI has entered into mutual recognition agreements with other countries, making it easier for foreign businesses to register and operate in the Philippines.
- Partnerships with LGUs: DTI has been closely collaborating with local government units (LGUs) to set up one-stop-shops for business registration, making the process more efficient for business owners.
In Register Your Business in DTI with Ease: Step-by-Step Guide
Register Your Business in DTI with Ease: Step-by-Step Guide.
Business registration is a necessary step for any entrepreneur looking to officially establish and operate their business. In the Philippines, the Department of Trade and Industry (DTI) is responsible for overseeing business registration and monitoring of businesses in the country. Whether you’re a new startup, a foreign corporation looking to expand, or a local business wanting to formalize your operations, registering with the DTI is a crucial process that should not be overlooked. In this article, we will explore the steps and requirements for registering a business in the Philippines through the DTI.
Recent Developments in Business Registration with the DTI
The DTI has constantly been improving and streamlining their processes to make business registration more efficient and accessible to all. In 2018, the agency launched the Philippine Business Registry (PBR) – an online platform that integrates several government agencies involved in business registration, including the DTI.
Through the PBR, businesses can now register, renew and make updates to their registration information, pay registration fees, and obtain necessary permits and licenses – all in one platform. This development has greatly expedited the registration process, making it easier for entrepreneurs to start their business endeavors.
Types of Business Entities
Before registering with the DTI, it’s essential to determine the type of business entity that best suits your operations and needs. There are several options to choose from, including sole proprietorship, partnership, corporation, and cooperative.
Sole proprietorship is the simplest form of business ownership, where the business is owned and operated by one person. Partnerships, on the other hand, involve two or more individuals who share ownership and management responsibilities. Corporations are separate legal entities from their owners, and their liability is limited to the amount of their investment. Lastly, cooperatives are organizations formed and owned by individuals with a common interest or goal.
Registration Requirements
To register your business with the DTI, you will need to submit the following requirements:
– Business name verification and reservation – this involves checking the availability of your desired business name and reserving it for your use.
– Accomplished Business Name Registration Form (BNRF) – this is the official form for registering your business name with the DTI.
– Two valid IDs with your signature and photo – this could include your passport, driver’s license, or postal ID.
– Proof of payment of the registration fee – the amount varies depending on the type of business entity you choose.
Steps for Registering a Business with DTI
Now that you have determined your business entity and gathered the necessary requirements, here are the steps for registering your business with the DTI:
- Step 1: Visit the DTI’s official website and access the Philippine Business Registry (PBR) page.
- Step 2: Create an account on the PBR and fill out the necessary details.
- Step 3: Once your account is verified, log in and select the ‘Register a Business Name’ option.
- Step 4: Provide the requested information, such as your desired business name, business address, and business activities.
- Step 5: Upload the required documents and pay the registration fee through the available payment options.
- Step 6: Once your application is submitted, you will receive a transaction reference number, which you can use to track the status of your application.
- Step 7: Once approved, a Certificate of Business Name Registration (CBNR) will be sent to your registered email address.
Case Studies of Successful Business Registrations with the DTI
One successful business that registered with the DTI through the PBR is Bo’s Coffee, a local coffee chain in the Philippines. With the help of the streamlined process through PBR, Bo’s Coffee was able to expand its operations to over 100 branches nationwide, providing employment opportunities and boosting the local economy.
Another notable case is that of Grab, a ride-hailing and food delivery company that also registered with the DTI through the PBR. With the efficient registration process, Grab was able to enter the Philippine market and provide convenient services to the public while complying with local laws and regulations.
Expert Opinions on Registering Business with the DTI
According to the chairman of the DTI, Ramon Lopez, the agency’s goal is to make business registration accessible and convenient for all, especially for micro, small, and medium enterprises (MSMEs). He also highlighted the importance of digitalization and online platforms like the PBR in simplifying the registration process for businesses.
Meanwhile, business consultant and entrepreneur, JP Bisson, emphasizes the significance of registering with the DTI to establish a legal and credible business presence in the Philippines. He also advises entrepreneurs to take advantage of the PBR to save time and costs in the registration process.
Tips for a Smooth Business Registration Process
To ensure a smooth and hassle-free business registration with the DTI, here are a few tips to keep in mind:
– Research and choose a unique and appropriate business name beforehand to avoid any delays in the registration process.
– Double-check and make sure all your requirements are complete and accurate.
– Be prepared to patiently wait for the approval of your registration. It may take a few days or weeks, depending on the volume of applications.
– Utilize the PBR platform for a more convenient registration process.
The Importance of Business Registration with the DTI
Registering your business with the DTI is essential for several reasons. For one, it ensures that your business is operating legally and compliant with local laws and regulations. It also provides you with exclusive rights to use your business name and protects it from being used by others.
Moreover, registering with the DTI allows your business to access government services and programs intended to support and promote the growth of MSMEs. It also enables you to enter into contracts and transactions with other businesses and institutions.
Common Mistakes to Avoid in Business Registration
Some common mistakes entrepreneurs make when registering their business with the DTI include submitting incomplete requirements, choosing a non-unique business name, and not registering for necessary permits and licenses. These mistakes can cause delays and setbacks in the registration process, which can significantly affect business operations.
Register Your Business in DTI with Ease: Step-by-Step Guide
Learn how to easily register your business with the DTI. Our guide provides step-by-step instructions on the process, ensuring a hassle-free experience. Start growing your business today!
Overview of DTI
The Department of Trade and Industry, or DTI, is the primary agency in the Philippines responsible for promoting and regulating trade, industry, and investments. It aims to create a progressive and globally competitive business environment in the country.
Despite the challenges brought about by the pandemic and the changing economic landscape, the DTI continues to be a reliable partner for entrepreneurs and businesses looking to establish themselves in the Philippines. One of the crucial services that DTI offers is its business registration process, which is a necessary step for any individual or entity looking to operate a business in the country.
Understanding Business Registration in DTI
Business registration refers to the process of officially incorporating a company or business entity with the government. Registration is essential as it grants the business the legal right to operate in the Philippines and brings a range of other benefits, such as access to government services, tax incentives, and protection of intellectual property.
Types of Business Registrations in DTI
DTI offers two types of business registrations: the sole proprietorship and the partnership or corporation. Each type of registration has its own set of requirements and processes, which we will explore further in this article.
Sole Proprietorship
A sole proprietorship is the most common type of business registration in the Philippines. It refers to an individual who is the sole owner and operator of the business. This type of business registration is suitable for small to medium-sized businesses as it has less legal and financial requirements.
To register as a sole proprietorship in DTI, the following steps must be followed:
- Register the proposed business name through the DTI Business Name Registration System (BNRS).
- Accomplish and submit the application form for business name registration, along with the necessary documents such as a valid government ID and payment of registration fees.
- Receive the Certificate of Business Name Registration (BN Form No.1) from the DTI.
- Register the business with the Bureau of Internal Revenue (BIR).
- Secure the necessary business permits and licenses from the local government unit where the business will operate.
Partnership or Corporation
Partnership or Corporation refers to a business entity with two or more owners who share profits, losses, and management responsibilities. This type of business registration is suitable for larger businesses with significant financial requirements and legal considerations.
To register as a partnership or corporation in DTI, the following steps must be followed:
- Accomplish and submit the articles of incorporation (for a corporation) or the articles of partnership (for a partnership) to the Securities and Exchange Commission (SEC).
- Obtain a certificate of incorporation or registration from the SEC.
- Register with the BIR.
- Secure the necessary business permits and licenses from the local government unit.
Practical Applications of Registering Business in DTI
Now that we have a better understanding of the types of business registrations in DTI, let’s explore the practical applications of registering a business in the agency.
Formalizing and Legitimizing the Business
Registering a business with DTI provides the necessary legal authority and recognition to operate a business in the Philippines. It also adds credibility to the business, making it more attractive for potential customers, clients, and investors.
Gaining Access to Government Services and Benefits
Registered businesses in DTI have access to various government services and benefits, such as assistance in obtaining necessary permits and licenses, tax incentives, and eligibility for government contracts and loans.
Protecting Intellectual Property
Registering a business with DTI also protects the business owner’s intellectual property rights. It grants exclusive rights to use and own the business name and logo, preventing others from using or imitating them without permission from the registered entity.
Challenges in Registering Business in DTI
While the process of registering a business in DTI is relatively straightforward, there are still some challenges that businesses may encounter during the process. These include:
- Delays in application processing due to high volume
- Confusion on the required documents and procedures
- Inconsistencies or differences in requirements among different government agencies
- Changes in government policies and regulations
Future Possibilities for Business Registrations in DTI
The DTI is continuously adapting and improving its services to better cater to the needs of businesses, especially in today’s ever-changing economic landscape. Some of the potential future possibilities for business registrations in DTI include:
- Implementing online registration systems for faster and more convenient processing
- Streamlining the requirements and procedures for registration
- Developing a single registration system for all necessary government agencies
- Incorporating digital technologies for easier access and tracking of registration status
In Conclusion
Registering a business in DTI is a necessary step for anyone looking to operate a business in the Philippines. It not only grants legal authority and legitimacy to the business but also provides access to various government services and benefits. While there may be challenges in the current process, the potential future improvements in the registration system are promising for the ease and convenience of business owners. Whether it is a sole proprietorship or a partnership/corporation, registering a business in DTI can pave the way for success in the Philippine market. “Register Your Business in DTI with Ease: Step-by-Step Guide” “Register Your Business in DTI with Ease: Step-by-Step Guide”
Learn how to easily register your business with the DTI. Our guide provides step-by-step instructions on the process, ensuring a hassle-free experience. Start growing your business today!. Register Register Your Business in DTI with Ease: Step-by-Step Guide
Learn how to easily register your business with the DTI. Our guide provides step-by-step instructions on the process, ensuring a hassle-free experience. Start growing your business today! Register Your Business in DTI with Ease: Step-by-Step Guide”
What are the steps to register a business in DTI?
The steps to register a business in DTI are as follows:
1. Visit the nearest DTI office or satellite office in your area.
2. Submit a duly accomplished application form for business name registration.
3. Pay the necessary fees for registration of your business name.
4. Receive your Certificate of Registration once your application is approved.
5. After registering your business name, apply for a Mayor’s Permit and Barangay Clearance.
6. Register with the Bureau of Internal Revenue (BIR) for tax purposes.
7. Comply with other local government requirements, such as environmental permits and zoning clearances.
8. Renew your business name registration and permits annually.
Can I register my business online with DTI?
Yes, you can now register your business online with DTI through the Business Name Registration System (BNRS). This system allows individuals and businesses to register their business name, renew their registration, and update their information online, making the process faster and more convenient.
How much does it cost to register a business name with DTI?
The registration fee for a business name with DTI is Php 200 for a single proprietorship and Php 500 for a partnership or corporation. There may be additional fees depending on the type of business and the local government requirements in your area.
Is registering with DTI necessary for all types of businesses?
The registration of business name with DTI is only required for single proprietorships or sole proprietorships. For partnerships and corporations, registration should be done with the Securities and Exchange Commission (SEC).
How long does it take to register a business name with DTI?
The processing time for business name registration with DTI typically takes 3-5 working days, depending on the volume of applications and completeness of requirements. Online registration through BNRS may take only 1-2 days.
Can I reserve a business name before registering it with DTI?
Yes, you can reserve a business name with DTI for a period of 30 days. This means no one else can register the same business name within the reservation period.
Do I need to have a business location before registering with DTI?
No, you do not need to have a business location prior to registering with DTI. You can use your home address or any other valid mailing address to register your business.
Do I need to be a Filipino citizen to register a business with DTI?
No, foreigners may also register a business with DTI as long as they have a Filipino representative who will handle the day-to-day operations of the business.
Is there a limit to the number of businesses a person can register with DTI?
Yes, an individual can only register up to three business names with DTI. If you wish to register more than three businesses, you will need to create a corporation or partnership.
What are the benefits of registering a business with DTI?
Registering a business with DTI offers several benefits such as legal recognition, protection of your business name, access to government assistance programs, and credibility for potential investors and customers. It also allows you to transact with other businesses and government agencies legally. Register Your Business in DTI with Ease: Step-by-Step Guide.