New registrations head for record
NEW BUSINESS registrations are on track to break the decade-plus record of 70,000 this year after surging 20 per cent to 42,785 in the first seven months.
Last month alone, 6,403 new firms registered with the Business Development Department, up 14 per cent from the same month last year.
The growth in start-ups reflects increasing confidence in doing business in the country, with Asean integration and the government’s Bt2-trillion mega-project expected to propel the economy to new heights in the next few years.
July saw 602 companies entering the television and radio business because of the deadline for digital-media licences that month.
Deputy Commerce Minister Natthawut Saikuar said yesterday that business formation would continue to flourish in the following months thanks to the promising outlook for government’s projects to support the growth of many businesses, despite the expected slowdown in economic growth this year.
Property development and construction are attracting attention because of the government’s Bt2-trillion infrastructure and Bt350-billion water-management projects, reduction in machinery import duties and reduction in the corporate tax rate to help small and medium-sized enterprises.
The capital of new firms soared by 22 per cent in the first seven months to Bt251.13 billion and by 18 per cent to Bt30.72 billion in July.
