SEC company registration hits all-time high in 2024

MANILA -- More new companies registered with the Securities and Exchange Commission (SEC) in 2024 than in the previous years, the regulator said Tuesday.

In a statement, the SEC said 52,304 new companies registered with the agency last year, up 6 percent from 49,506 in 2023.

Stock corporations made up 75 percent or 39,146, of the newly registered companies. New non-stock corporations numbered at 10,782, while the remaining 2,376 were partnerships.

Almost 40 percent or 20,231, of the new registered firms were based in Metro Manila. Some 8,226 or 16 percent were in Calabarzon, while 6,141 or 12 percent were in Central Luzon. 

Some 44,872 or 86 percent of the new companies are in the service sector, while 12,479 are in the wholesale and retail trade and repair of motor vehicles and motorcycles.

The number of newly-registered one-person corporations grew to 8,640, from 6,794.

The SEC said its push for digital transformation made it easier to do business in the Philippines.

"Surpassing the 50,000-mark in company registrations serves as a testament that we are on the right track in encouraging entities to legitimize their operations through registration with the Commission,” said SEC Chairperson Emilio Aquino.

Aquino said the SEC would explore strategies to bring its services closer to the public and improve of ease of doing business in the Philippines.

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