Thailand
Thailand: New firm registration to rise 14%
The Commerce Ministry is upbeat about new business registrations this year, driven by e-commerce, herbal businesses, delivery services, and businesses related to computers as consumers change their behaviour and more people work from home.
Sorada Lertharpachit, deputy director-general of the Business Development Department, said new business registrations this year are expected to grow by 13.7% to 72,000, outstripping the 63,340 last year and the department target of 65,000 to 70,000 for this year.
The increase was attributed to changing consumer behaviour and the impact of the pandemic, causing businesses to opt for more online services, delivery, work from home, herbal medicines, and IT management.
The department expects new business registrations in 2022 will stay in a range of 65,000 to 70,000, in line with an expected economic recovery after the government eased lockdown measures and the country reopened last month.
She said the tourism sector is likely to fare better next year, increasing registrations related to tourism activities.
However, Ms Sorada said the new Omicron variant warrants close monitoring.
“We expect next year’s trends to remain similar to this year, as more e-commerce shopping is anticipated, causing an expansion of the delivery, packaging, IT management, herbal and medical product segments,” she said.
The department reported yesterday new business registrations rose 15% year-on-year in the first 11 months this year to 69,253, with combined registered capital worth 212 billion baht, up by 2%.
Some 13,617 firms ceased operation, down by 9% year-on-year, with a combined registered capital of 362 billion baht, up 382%.
In November, new business registration rose 26% year-on-year to 5,642, with registered capital worth 17 billion baht, up 9%.
Source: https://www.bangkokpost.com/business/2236959/new-firm-registration-to-rise-14-