New business registrations up 14% in November

New business registrations up 14% in November

Kulanee Issadisai, the director-general of Business Development Department, expects 72,000 new businesses to be created in 2017. (File photo from Department of Business Development)
Kulanee Issadisai, the director-general of Business Development Department, expects 72,000 new businesses to be created in 2017. (File photo from Department of Business Development)

New business registrations in November rose 14% year-on-year to 6,597 - the highest monthly registration in a decade.

The combined value of investment capital of the new businesses registered last month was 64.46 billion baht, up 328% from the same month in 2016.

Kulanee Issadisai, the director-general of Business Development Department, said the top three types of  business were - 749 companies in the real estate sector, 637 in general construction, and 224 in retailing of ornaments, particularly gold shops.

For the 11-month period, a total of 68,212 juristic persons have been registered, up 14% from the same period last year. The total capital investment was 372.7 billion baht, up 74% y-o-y.

Ms Kulanee said the significant improvement of new business registrations reflected confidence in the economy, which has continuously recovered from 2016. She was of the view the government’s measures to stimulate the economy had boosted consumption with positive effects for businesses such as retailing and tourism. 

The government’s investment in infrastructure projects had benefited general construction and property businesses.

As of Tuesday, the department had accepted a total of 71,000 new business registrations so it expected a total of 72,000 this year, with the expectation of 75,000 in 2018 when one-person business registration is likely to be allowed.

There were 2,306 businesses dissolved in November, down 4% y-o-y, with registered capital investment of 7.5 billion baht.

A total of 15,682 businesses dissolved over the 11-month period of 2017, down 1%. They had combined registered capital of 73.4 billion baht.  


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