Plan to help franchisers do businesses overseas
THE COMMERCE Ministry's Business Development Department will join forces with the Board of Investment and the Thai Credit Guarantee Corporation to help 300 Thai franchisers do business overseas and 1,000 to do business in Asean after the regional integrat
The three-year plan aims to strengthen franchisers’ ability to do business abroad.
Deputy Commerce Minister Suvit Maesincee said franchising was one of the fastest and most efficient ways to increase the number of Thai businesses overseas.
The ministry will ask the Cabinet next week for a budget of Bt187 million to support this project, he said. The plan is to support traders’ development into professional enterprises, create business security, and encourage franchising overseas.
9% annual growth
According to the department, the franchise sector is growing by about 9 per cent annually from market value worth Bt200 billion a year and is now worth about Bt200 billion.
Suvit said franchise enterprises had told the department that they want the government to help increase the opportunity for them to do business overseas and access soft loans and financial sources. They want amendments to franchise laws to facilitate their business growth.
The Board of Investment will help draw up a package to help franchise enterprises do business abroad, while the Thai Credit Guarantee Corporation will help them access soft loans.
According to the department, Thailand currently has about 1,519 franchise businesses.
Of these, 38 per cent are in retail, 28 per cent in food and beverages, 23 per cent in services, 6 per cent in education, and 5 per cent in spa and healthcare services.
