Amended registration law to help small services acquire funds
To help enable micro and small enterprises to access funding and the government’s support measures, the Business Development Department will soon amend the Commercial Registration Act to allow small service businesses to register. The move follows the soo
Pongpun Gearaviriyapun, director-general of the department, said yesterday that although the service sector had grown continuously, many of these businesses lacked the opportunity to acquire funding as they don’t have commercial certificates. The amendment of the Commercial Registration Act will help solve this problem.
Businesses that will be focused on include computer maintenance, car and motorcycle maintenance, tailoring, and barbershops and salons.
The amendment is expected to be proposed to the Cabinet in the first quarter of the new year
In addition, the department expects about 60,000 new companies to be established next year, lower than previously forecast because of concerns over uncertain global economic growth as well as low oil prices.
The department reported that new company registrations increased slightly by 2 per cent year on year to 4,520 last month, while decreasing by 14 per cent from October’s figure because of a reduction in the number of lottery vendors after the introduction of controls on lottery prices.
Initial investment capital last month was down by 56 per cent year on year to Bt15.72 billion, as a year ago saw a high base as many businesses that registered were in financial service.
In the first 11 months of this year, 56,910 new companies were registered, while 16,771 shut down.
In November alone, business closures rose by 31 per cent year on year to 2,722.
Most of the new companies are engaged in construction, property development, restaurants and food retailing, consulting and machinery trading.
More than 620,157 companies are actively operating in the country, of which 1,110 are public companies.
