Bacolod is a prominent city in the Visayas region and a center for trade. In November 2021, the Philippine Chamber of Commerce and Industry (PCCI) named Bacolod the Most Business-Friendly Local Government Unit. The city was dubbed the "Best Performing LGU in Western Visayas" and "Most Competitive City in the Visayas" by the Department of Trade and Industry's Competitive Cities and Municipalities Index. The city government's assistance and encouragement of micro, small, and medium-sized enterprises (MSMEs) have also been recognized.