Number of new companies set up drops in April
Records show that the number of newly registered companies in Thailand has dropped by 20 per cent month on month in April, the lowest figure in four months, according to the Business Development Department.
However, this might be because there were many public holidays last month, though the Thai economy is strong enough to help improve things later in the year, Deputy Commerce Minister Siriwat Kachornprasart said.
Last month, only 4,041 new companies were registered, compared to 5,431 in March and 5,098 last April.
Combined capital of the firms registered last month stood at Bt14.1 billion, and most were in the construction, property development and entertainment services.
On the other hand, some 797 firms shutdown operations last month, which was 13 per cent lower than in March, but 41 per cent more year on year.
Siriwat said companies shutting down was normal because most of the businesses were construction and property development firms that wrapped up operations after completing certain projects or their contracts had expired. There were only a few firms that ceased operation due to lack of liquidity or tough competition.
Currently, there are 505,922 registered companies and 925 public companies in Thailand.
