Amid ongoing concerns over corruption that could weigh on the economy, the Securities and Exchange Commission (SEC) reported a slight decline in new corporate registrations as of the end of October. 

A total of 43,185 companies were registered, about 5 percent down from 45,624 during the same period last year.

Of the new registrants, 30,671 are stock corporations, 10,117 are non-stock corporations, and 2,397 are partnerships. Among stock corporations, 30,465 are domestic, while foreign stock corporations surged to 206—a 77.6 percent jump from 116 in the same period in 2024.

“While registrations are slightly below last year’s levels, the figures still reflect a dynamic business environment, buoyed by regulatory reforms and investor confidence,” the SEC said in a statement on Thursday. 

The total number of active corporations now stands at 578,272, with micro, small, and medium enterprises (MSMEs) accounting for 88 percent, or 420,483 companies. 

By sector, 22 percent operate in wholesale and retail trade; eight percent in real estate; and six percent each in accommodation and food services, administrative and support services, and construction.

To spur growth, the SEC said it will push for more regulatory reforms.

“The SEC is consistently looking for ways to streamline the company registration process as this is the first step entrepreneurs have to go through to expand and grow their businesses,” SEC Chairperson Francis Lim said. 

In July, the SEC issued Memorandum Circular (MC) No. 7, Series of 2025, setting strict processing timelines and a “deemed approved” policy for applications not acted on within the prescribed period.

The commission also expanded its One Day Submission and Electronic Registration of Companies – Zuper Easy Registration Online platform, increasing eligible industries from 33 to 81 and allowing foreign-owned companies to register online. By October, 32,533 applications had been processed through OneSEC.

To further support MSMEs, the SEC rolled out MC No. 8, Series of 2025, offering discounts: 20 percent off registration fees and 25 percent off filing fees for capital stock increases via amendments to articles of incorporation, effective until year-end.

The commission is also considering extending these incentives to encourage more MSMEs to formalize their operations.

“Beyond improving the registration process, we also want to ensure that maintaining their active status remains easy and accessible to support seamless and uninterrupted operations,” Lim said.