The Business Development Department looks set to apply artificial intelligence (AI) to inspect the financial statements of companies, aiming to prevent account doctoring and promote electronic registration next year.
Thosapone Dansuputra, director-general of the department, said using AI and e-registration promotion are part of the department's urgent mission in 2021 to increase competitiveness, stimulate the local economy and promote good corporate governance.
The department has pledged to enhance good business governance and standardise the financial system by building up transparency, upgrading services with technology and innovation to eliminate business obstacles.
E-registration improves ease of doing business and cuts complicated approval procedures and time.
Mr Thosapone said the department also wants to develop and promote small and medium-sized enterprises (SMEs) and operators of Otop (One Tambon, One Product) community and agricultural products to become smart traders who can sell their products through online and offline channels.
The department reported yesterday new business registrations totalled 5,636 in September, down 19% from the same period last year. On a monthly basis, registrations increased 2% from 5,538 in August.
Registered capital totalled 12.8 billion baht in September, down 55% year-on-year and 11% from 14.3 billion in August, attributed to the impact of the pandemic.
"In September, the trend improved from the government's tourism and consumption stimulus measures. There were more new restaurants registered," said Mr Thosapone.
The top three sectors for new business registrations in September were building and construction, real estate and restaurants. The department said healthcare and cleaning businesses are also promising for newcomers.
For the first nine months, the number of business registrations totalled 50,178, down 13% year-on-year, with registered capital worth 47.9 billion baht, down 36% from the same period last year.
In 2020, the department expects total business registrations to tally 60,000 to 64,000.