Business registrations up in June

Business registrations up in June

New business registrations rose 3% year-on-year in June, as entrepreneurs felt more confident about business prospects after the easing of lockdown measures.

The Business Development Department under the Commerce Ministry reported on Wednesday new business registrations totalled 5,731 in June, with combined registered capital worth 14.8 billion baht, down 3% from June last year.

On a monthly basis, registrations increased by 37%, and the amount of registered capital rose by 53% from May. The top three sectors for new business registrations in June were building and construction (612), real estate (217) and logistics services (188).

"Higher registrations are attributed largely to increased confidence about business prospects after the government declared the easing of its lockdown measures and introduced a raft of economic stimulus and business remedy measures," said Vuttikrai Leewiraphan, director-general of the department.

The number of businesses that ceased operation in June totalled 1,336, up 6% year-on-year and up 48% from May, with registered capital worth 5.13 billion baht, up 73% year-on-year and up 3% from May. The top three sectors ceasing operations were building and construction, real estate and management consulting services.

For the six months, the number of business registrations totalled 33,337, down 13% year-on-year, with registered capital worth 105 billion baht, a dip of 13%. For the same period, the number of businesses reporting liquidation totalled 6,227, down 7% year-on-year, with registered capital worth 26.3 billion baht, up 18%.

Mr Vuttikrai said new registrations are likely to recover gradually in the second half as the domestic impact of the coronavirus outbreak eased and the government issued stimulus measures.

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