Thailand sees 23% rise in new businesses in first half
Despite the Covid-19 pandemic, the first half of 2021 saw 41,022 new businesses established, or 23 per cent more than the same period last year. In comparison, only 4,930 businesses shut down or 21 per cent fewer than last year.
The top three sectors that attracted entrepreneurs this year were construction (3,539 companies), followed by 1,844 real-estate businesses and 1,132 ventures in the logistics sector.
Of the 41,022 new businesses, 31,380 ventures had an investment of no more than a million baht, followed by 8,976 companies investing between 1-million- and 5-million-baht, 592 investing between 5 million-plus and 100 million baht, while 74 firms went beyond the 100-million-baht range.
This growth in new businesses can be attributed to several factors such as an increase in exports thanks to the recovery of the global economy and government stimulus measures.
The Bank of Thailand’s Business Confidence Index in June stood at 46.5, slightly higher than the previous month but still below 50 – an indication that most businesses are the pandemic may last longer or worsen.