The Ministry of Commerce has reported about 9,200 new businesses were registered across Thailand in March, marking an 8% increase from February and a 28% increase from the same period last year.
Quoting data from the Department of Business Development (DBD), Deputy Prime Minister and Commerce Minister Jurin Laksanawisit said the registered capital of these businesses was valued at nearly 300 billion baht. The top three industries are real estate, general building construction and restaurants.
In contrast, 1,100 businesses closed in March, marking a 27% increase from February and a 19% increase from March 2022. These businesses were mostly from general building construction, real estate and restaurants.
For Q1 2023, there were about 26,000 new business registrations, a 67% increase from the previous quarter and a 17% increase from the same period last year, with registered capital valued at nearly 340 billion baht. The top three industries were general building construction, real estate and restaurants, while 3,300 businesses closed during the same period in a 69% decrease from the previous quarter and a 26% increase from the same period last year, with a registered capital value of nearly 30 billion baht.
As of March 31, there were about 866,000 businesses in operation in Thailand, with a combined capital value of 21.2 trillion baht. Limited partnerships accounted for 23.33% of businesses, while private limited companies accounted for 76.51% and public limited companies accounted for just 0.16%.
The DBD predicts that there will be around 40,000-42,000 new business registrations in the first half of 2023 and around 72,000-77,000 new registrations throughout the year. (NNT)
