This is a welcome development for the business landscape of Cebu, BPLO head Andrew Borres said Friday, Feb. 17.
Borres said that because only 336 businesses retired, the numbers were easily offset by the new registrants for this year.
He also highlighted the fact that compared to last year, the BPLO has already collected more, even if the records are only for the month of January, as opposed to the 2022 record that logged less.
The 2023 data showed that for the month of January only, the BPLO already received P1.4 billion in revenue, while in the 2022 initial registration period, they recorded around P1.2 billion, Borres said.
“Maayo na gyud, it shows nga ang atong businesses nga ning-open, kuan na gyud maayo na… Daghan na kaayo ang nabayad, dako kaayo ang nabayad, nya compare nato sa last year, mas gamay siya,” Borres added.
(The opening of businesses shows that the environment is good already. Many already paid. They paid a lot compared to last year.)
Considering the circumstances from the Covid-19 pandemic to typhoon Odette (Rai), Borres said it is understandable that some may not have been able to renew their business permits.
The coronavirus disease pandemic, which prompted mobility restrictions, is now entering its third year, while typhoon Odette struck Cebu on Dec. 16, 2021 amid the health crisis.
Despite the 5,000 businesses that have not renewed their permits yet, Borres said the start of the year brings hope for the city’s business and economic progress.
Borres is confident that should new business owners think of investing in the city, the city would be able to accommodate their growth.