The Securities and Exchange Commission (SEC) announced a record 52,304 new companies registered in 2024, marking a 6 percent increase from prior year. This brings the total number of active SEC-registered companies to 527,710, underscoring the agency’s success in driving corporate formalization in the Philippines.
SEC chairman Emilio B. Aquino highlighted the significance of this milestone, attributing the rise in new registrations to the agency’s ongoing digital transformation efforts. “Surpassing the 50,000 mark in company registrations demonstrates that our digital initiatives are encouraging more businesses to legitimize their operations,” Aquino said. He also said the SEC would continue building on these advancements in 2025, further enhancing service delivery to boost the ease of doing business in the country.
Stock corporations were the largest category of new registrants, accounting for 75 percent (39,146) of the total. Non-stock corporations made up 21 percent (10,782), while partnerships contributed 5 percent (2,376). One-person corporations saw significant growth, up 27 percent from 6,794 in 2023 to 8,640 in 2024.
Metro Manila led in new company registrations, contributing 40 percent of the total, followed by Calabarzon (Region IV-A) and Central Luzon (Region III), with 16 percent and 12 percent, respectively. The services sector dominated the new registrations, with 86 percent (44,872) of new companies operating in this area. Notably, wholesale and retail trade, along with the repair of motor vehicles and motorcycles, saw the highest growth, with 12,479 new companies joining the sector.
This surge in registrations continues a trend that has been building since the SEC’s digital transformation efforts began in 2020. The agency’s introduction of the SEC Electronic Simplified Processing of Application for Registration of Corporation (eSPARC) system in 2021 dramatically reduced the registration process from 34 days to just three.
As the SEC moves forward, it is poised to leverage its digital tools to further streamline company registration, making it easier and faster for businesses to formalize their operations and contribute to the Philippine economy.
