The Department of Business Development revealed the results of new business registrations in the 3 quarters (January – September 2024) reaching 70,000, an increase of 1.5%. In September 2024 alone, 7,867 businesses were registered, an increase of 10.7%. Supporting factors came from the tourism sector, confidence in the country’s economy, and the government’s economic stimulus policies. It is expected that the entire year there will be over 90,000 new businesses established.
Mrs. Aromon Sapphathawittham, Director-General of the Department of Business Development, Ministry of Commerce, revealed that in September 2024, there were 7,867 new business registrations, an increase of 760 (10.69%) when compared to the same period last year. The registered capital was 22,048.51 million baht, a decrease of 2,122.13 million baht (8.78%). In September 2024, there was 1 juristic person with a registered capital of more than 1,000 million baht, namely Grand Residence International Company Limited with a registered capital o
f 1,520.00 million baht, engaged in the business of purchasing, acquiring, receiving, renting, hire-purchasing, leasing, owning, improving, using and otherwise managing any property, including interest on such property. The top 3 types of newly established businesses are: 1) General building construction businesses, 620 businesses, capital of 1,349.33 million baht, 2) Real estate businesses, 531 businesses, capital of 3,465.99 million baht, and 3) Restaurant businesses, 374 businesses, registered capital of 716.75 million baht, accounting for 7.88%, 6.75%, and 4.75% of the total number of business establishments in September 2024, respectively.
As a result, in the past 3 quarters (9 months: January – September), there were a total of 69,686 new business establishments, an increase of 1,021 (1.49%) from the same period last year, with a registered capital of 208,481.38 million baht, a decrease of 285,890.71 million baht (57.83%) because 2023 had the highest registered capital in history because 2 businesses w
ith a registered capital of over 100,000 million baht merged and converted. In the past 3 quarters or 9 months, the top 3 types of businesses registered were: 1) General building construction business 5,294 businesses, capital 11,743.07 million baht 2) Real estate business 5,229 businesses, capital 22,833.72 million baht and 3) Restaurant business 3,212 businesses, capital 6,526.78 million baht, accounting for 7.60%, 7.50% and 4.61%, respectively. From the number of business establishments from January to September respectively,
for 3 businesses that are worth watching because the business establishment registration rate has increased dramatically, they are: 1) Radio broadcasting business (except online) which has increased registrations by 41 times because the NBTC has radio stations apply for broadcasting licenses by December 31, 2024 to be used in applying for such licenses. 2) Coin-operated vending machines such as coin-operated car wash machines, coin-operated doll grabbing machines and vending machines
, and photo booth service machines, which have increased registrations by 3.60 times. 3) Glutinous rice farming business, which has increased registrations by 2.56 times because the Rice Department supports farmer groups to establish juristic persons to participate in the project to support reducing agricultural production costs.
For the registration forecast in the last quarter of the year, the number will increase by approximately 20,000 – 23,000 from the stimulus of government investment, such as the infrastructure construction project for fiscal year 2025, starting in the last quarter of 2024 (October 2024), which will gradually start projects. The end of the year is the tourist season, which will be a factor stimulating tourism-related business groups to become lively again. In addition, the government’s urgent policies announced in early October, such as pushing for debt restructuring, promoting and protecting the benefits of Thai entrepreneurs, stimulating the economy, promoting the tourism industry,
etc., which will help build confidence and stimulate spending in the Thai economic sector. It is expected that throughout 2024, there will be approximately 90,000 – 98,000 new business registrations.
However, in September, there were 2,254 business closures registered, an increase of 215 (10.54%). Registered capital closures were 16,611.91 million baht, a decrease of 618.06 million baht (3.59%). The top 3 types of businesses that closures were 1) general building construction businesses, 246 businesses, capital 414.55 million baht, 2) real estate businesses, 97 businesses, capital 2,350.40 million baht, and 3) restaurants/food shops, 74 businesses, capital 179.71 million baht, accounting for 10.91%, 4.31%, and 3.28%, respectively.
In September 2024, there were 2 juristic persons with registered capital that ceased operations of more than 1,000 million baht: 1) Central JD Commerce Co., Ltd. (JD CENTRAL platform), registered capital ceased at 4,959.27 million baht, engaged in retail business via electronic ch
annels; 2) Central JD Money Co., Ltd. (Dolfin Wallet platform), registered capital ceased at 2,532.00 million baht, engaged in providing electronic money services for payment of goods or services.
The cumulative number of business cessation registrations for the 9 months (January – September 2024) was 12,246, a decrease of 764 (5.87%) when compared to the same period in 2023. The accumulated registered capital ceased to be 116,005.25 million baht, an increase of 34,604.61 million baht (42.51%) when compared to the same period in 2023. In May 2024, there was 1 telecommunications and communication business with a registered capital of over 48,209.34 million baht that registered for business cessation, resulting in a higher than normal 9-month registered capital. If the aforementioned businesses are excluded, the registered capital ceased to be decreased by 13,604.73 million baht (16.71)%. When considering the proportion of business cessation in 2024, it was found that there were only 17.57% of business establi
shments, which was lower than in 2023, which accounted for 18.95% of business establishments.
As for foreign business investment, in the first 9 months there were 636 entities, the top 5 being: 1) Japan, 157 entities (25%), investing 74,091 million baht; 2) Singapore, 96 entities (15%), investing 12,222 million baht; 3) China, 89 entities (14%), investing 11,981 million baht; 4) the United States, 86 entities (13%), investing 4,147 million baht; and 5) Hong Kong, 46 entities (7%), investing 14,116 million baht. -517 – Thai News Agency
Source: Thai News Agency
