SEC business registrations hit new record in 2024, one-person corporations saw sharp rise

February 4, 2025
3:25PM PHT

A record 52,304 new companies registered with the SEC in 2024, the highest ever, fueled by digital tools that make starting a business faster than ever.

This pushed total active SEC-registered companies past 527,000, reinforcing the Philippines’ growing business landscape.

Stock corporations led the surge, making up 75 percent of new registrations, while one-person corporations jumped 27 percent to 8,640. Metro Manila remained the top hub with nearly 40 percent of new businesses, followed by Calabarzon and Central Luzon.

The services sector dominated, with 86 percent of new registrations, including 12,479 in wholesale, retail, and vehicle repair. 

The SEC’s push for digital transformation has been key, with its OneSEC system slashing registration time to as fast as one minute.

Since launching eSPARC in 2021, the SEC has consistently broken registration records, proving that its strategy is working.  

SEC reports record-breaking 2024 registrations, led by stock corporations and booming one-person companies. 

Management’s view 

“Digital transformation has always been one of the top priorities of the SEC to improve the efficiency of our services. 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,” SEC chair Emilio B. Aquino said on Tuesday. 

“In 2025, we will capitalize on the success of our digital transformation journey and explore other strategies that will bring our services closer to the public to contribute to the further improvement of ease of doing business in the Philippines,” he added.

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