Thailand: New firms rise by 8% in September

• Oct 17, 2017

The number of new businesses registered with the Commerce Ministry rose 8% in September, signalling the economy is continuing to recover, says the Business Development Department.

Director-general Kulanee Issadisai said the number of new companies and partnership companies registered with the department was 6,532 last month, up 8% from the same period last year.

The total registered capital of new companies registered in September was 31.6 billion baht, up 41% year-on-year, but around 33% lower than August.

“The number of new businesses registered in September was better than in previous months, indicating economic recovery,” said Ms Kulanee.

With the rise in September, she said the total number of new businesses registered for 2017 should rise 3-5% to more than 66,000 new companies.

Ms Kulanee attributes the increasing numbers of new business to rising confidence among business people and investors, largely due to strong export performance and the growing tourism industry.

Rising purchasing power and government investment incentives have encouraged people to start new businesses amid the recovering economy, she said.

Construction saw the highest number of newly registered businesses, followed by property development, restaurants, retail and logistics, she added.

Over the first nine months, there were 19,670 newly registered business, up 14% year-on-year, with 100.2 billion baht in registered capital, up 75% from the same period of last year.

In contrast, 1,717 companies cancelled their registration in September, a fall of 2% from last year, worth 10.5 billion baht in total capital, said Ms Kulanee.

Source: https://www.bangkokpost.com/business/news/1343795/new-firms-rise-by-8-in-september