I was surprised to read in a newspaper today that one of the new guidelines of the DTI (Department of Trade and Industry) is to cancel the business name registration of new establishments that fail to operate within six months from date of registration. As a small time businessman, I don't like this rule because the truth is, I only register a business, that is get the business permits from the Mayor's Office, only when I feel that the business has potential for earning, and it usually takes six months or one year of operations before that really happens! Most small time businessman don't have enough cash to steamroll a whole year operation so by shutting it down within six months is a bit detrimental to us. Maybe they should extend it to two years, since by that time, most businessmen would already know if they have to fold up or to continue with the new business.
I hope the DTI amends this new guideline.
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