Number of startups climbed in May

Number of startups climbed in May

The number of startups edged up 1% year-on-year in May, led by those in the construction and property sectors, as well as restaurants.

According to Sorada Lerttharpachit, deputy director -general of Business Development Department, the number of new business registrations totalled 5,942, compared with 5,865 in May last year.

However, on a monthly basis, the number dropped 0.03% from 5,944 in April.

The top three sectors for new business registrations in May were building and construction (530), property (371) and restaurants (164), driven by higher investment and urbanisation.

The value of registered capital surged 67% from May last year to 35.21 billion baht. On a monthly basis, the figures skyrocketed 134.78% from 15 billion baht in April.

For the first five months of this year, the number of new business registrations topped 32,636, up 5% from 31,034 in the same period last year.

Nonetheless, the value of registered capital for the period dropped 13% to 102.60 billion baht from 118.28 billion baht.

The Business Development Department’s chief predicted given the country’s economic growth prospects and seasonal trends, the new business registrations are expected to increase further in June, bringing the total number for the first six months to not fewer than 37,000.

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