The Department of Business Development (DBD) says that nearly 90,000 new businesses will have been registered in 2024, marking a 2-3% year-on-year increase.
Auramon Supthaweethum, director-general of the DBD, said new business registrations in the first 11 months increased by 2.3% year-on-year to 83,219.
However, the total amount of registered capital dipped to 262.8 billion baht, a decrease of 51.9% year-on-year, due to the level of total registered capital reaching a record high in 2023. During that year, there were mergers between two businesses with over 100 billion baht of registered capital.
Despite the decline in capital, 14 businesses with registered capital exceeding 1 billion baht were established in the first 11 months, including wholesale and retail eyewear distributors and a data centre operator.
The DBD forecasts that an additional 4,000-5,000 new businesses will register in December, bringing the total for 2024 to 88,000-89,000, below the target of 90,000.
The uptick in new registrations this year can be attributed to the recovery in tourism, improved consumer spending, the establishment of new factories in various regions and ongoing government economic stimulus measures.
Furthermore, the DBD has leveraged data from business registrations to identify emerging industries as well as those that are struggling and require immediate adaptation.
The analysis considers factors such as the number of newly established businesses, performance results (profit and loss), and business closures.
It also takes into account other environmental factors, including domestic and international business trends, consumer preferences, government policies, economic indicators, the overall national economic situation, and business competition.
The findings highlight five sectors in recession that need to adapt to evolving trends for survival.
These are steel, precious metal and gemstone manufacturing, offline retail, offline media and public relations, agricultural processing, and agency services.
In contrast, there have been rising sectors this year. They are sports and fitness, tourism and entertainment, electric vehicles and electronic components, e-commerce, and film production.
