Thailand named best country to start business for second year running

By THE NATION

 

 

Thailand was named the best country to start a business for a second year by US News, Wuttikrai Leeveeraphan, director-general of the Commerce Ministry’s Business Development Department, said on Tuesday (August 25).

 

“US News & World Report recently released the names of best countries to start a business and Thailand topped the list for a second year running,” he said.

 

According to US News, the ranking draws from results of a global perceptions-based survey and ranks countries based on scores from nearly 6,000 business decision-makers in a compilation of five attributes: affordability, bureaucracy, low manufacturing costs, connecting with the rest of the world and easy access to capital.

 

“Starting a business in Thailand takes six days and five procedures, according to the World Bank. In 2019, Thailand made starting a business cheaper by introducing fixed registration fees,” US News said in its website.

 

Following Thailand are Malaysia, China, Singapore, India and the Philippines.

 

The list can be viewed at www.usnews.com/news/best-countries/best-start-a-business.

 

Separately, the World Bank’s 2020 Doing Business list ranked Thailand 21st for overall business practices and 47th for starting business.

 

The five procedures for starting a business in Thailand include: reserving a company name, putting capital in a bank, registering for new company, registering for value added tax and submitting employee registration.

 

Source: https://www.nationthailand.com/news/30393493

 

-- © Copyright The Nation Thailand 2020-08-25

 

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I suggest that US News attempt to start a small business in Thailand.

Then run it for one year.

10 minutes ago, webfact said:

“US News & World Report recently released the names of best countries to start a business and Thailand topped the list for a second year running,” he said.

 I knew beer bars were a smart growth industry! ????

16 minutes ago, webfact said:

five attributes: affordability, bureaucracy, low manufacturing costs, connecting with the rest of the world and easy access to capital.

Well that survey is certainly very accurate now considering that "connecting to the rest of the world and easy access to Bangkok is non existent now". Maybe the director general of the Commerce Ministry Department is unaware of this fact.

Edited August 25, 20205 yr by JusticeGB
Added to the quote

This is just so bizarre. First thing that jumps out is the 51% Thai owned part unless that's changed then not being able to own land, building etc, then immigration, police or military funds to pay into and then let's not forget if you become successful and some connected person decides they wont your business. This is just crazy. Keep a low profile especially if your rich because you never know who is jealous and watching you and the last thing you want is to end up like the Duch guy.

Edited August 25, 20205 yr by Scot123
Duck duch

Yeah sure, if you're a Sino-Thai with a rich daddy. 

The US-Thai Amity Treaty gives benefits to US citizens who want to establish business in Thailand.

 

31 minutes ago, kotsak said:

The US-Thai Amity Treaty gives benefits to US citizens who want to establish business in Thailand.

 

In the current political climate, I wonder how long that treaty will survive.

2 hours ago, webfact said:

Separately, the World Bank’s 2020 Doing Business list ranked Thailand 21st for overall business practices and 47th for starting business.

I see.

Thailand probably also is the best country to lose a business without much hassle, i.e. when your obligatory local 51% majority share holder kicks you out unceremoniously as soon as the company begins turning a stable profit.

i feel like such a loser in the land of the best. 

4 hours ago, webfact said:

“Starting a business in Thailand takes six days and five procedures, according to the World Bank. In 2019, Thailand made starting a business cheaper by introducing fixed registration fees,” US News said in its website.

 

 

Another statistic made by someone in an armchair thousands of miles away, who probably doesn't even know the difference between Thailand and Taiwan.

 

 

Number one again! 

 

Number 1 tourism. 

https://www.forbes.com/sites/alexandratalty/2019/09/04/bangkok-is-the-most-visited-city-in-the-world-again/#280bc5eb5f1b

 

Number 1 covid control.

https://www.thailand-business-news.com/health/80125-thailand-ranks-first-in-the-global-covid-19-recovery-index.html

 

thaibashers hate this news. 55555555

 

Yinn 

POTY (Most vote ever, fastest ever) 

 

Why Thailand number one again? And again?

Hmmmmm

 

Across the world, Thailand boasts the greatest percentage of women in senior management (45%)

Link

https://www.thailand-business-news.com/news/top-stories/29585-thailand-has-most-women-in-top-management.html

 

The best! 

3 hours ago, Yinn said:

Why Thailand number one again? And again?

Hmmmmm

 

Across the world, Thailand boasts the greatest percentage of women in senior management (45%)

Maybe if parliament is > 45% filled with women, especially with a female PM, maybe it's politics can get number one too. 

 

(putting lung Tu in a skirt could be a start, get in touch with his feminine side etc.)

4 hours ago, Yinn said:

Across the world, Thailand boasts the greatest percentage of women in senior management (45%)

 

Are Mammasans considered senior management?

Agreed...we need more of the following: Hair salons, massage parlors (legit or otherwise...my pen rai), convenience stores, restaurants, laundry, sell clothes, food and mobile phones.

Six days!! Actually, one of the easiest places to start a business is England. Takes about 15 minutes online.

 

More importantly, "best place to start and operate a successful business" will change the ranking considerably, I guess!

13 hours ago, webfact said:

Thailand was named the best country to start a business for a second year by US News,

Yeah, announced between ads for Mrs Miggin's Pie shop and Todd's Town Barbers

????????????????   seriously, what's the punch line to this joke.  

I thought many of the businesses were closing down .... I was with a Japanese company exec on Saturday night and he's in the process of moving his company back to Japan ....  I asked him why, his response was that Thailand's profit margin is too small and business is fading every year. His company operate elderly aged care facilities. 

Maybe that explains why so many companies are closing and relocating elsewhere...

US news received the brown envelope.

1 hour ago, steven100 said:

I thought many of the businesses were closing down .... I was with a Japanese company exec on Saturday night and he's in the process of moving his company back to Japan ....  I asked him why, his response was that Thailand's profit margin is too small and business is fading every year. His company operate elderly aged care facilities. 

 

1 hour ago, baansgr said:

Maybe that explains why so many companies are closing and relocating elsewhere...

 

Some close. 

More open. 

 

We we need more Burma, Laos, and cambodia worker. 3 million already.

12 minutes ago, Yinn said:

 

We we need more Burma, Laos, and cambodia worker. 3 million already.

IF Thais worked, you wouldn't need them.

18 hours ago, webfact said:

Thailand named best country to start business for second year running

Who said: Prayut & Co?

I do enjoy my morning laugh, and this is it for today. 

not full owner of own company + 2 million baht + work permit you have to go out of the country for + 4 lazy dudes + salaries + dead economy

19 hours ago, webfact said:

“US News & World Report recently released the names of best countries to start a business and Thailand topped the list for a second year running,” he said.

 

19 hours ago, webfact said:

Separately, the World Bank’s 2020 Doing Business list ranked Thailand 21st for overall business practices and 47th for starting business.

 

17 hours ago, kotsak said:

The US-Thai Amity Treaty gives benefits to US citizens who want to establish business in Thailand.

 

 

Yep. And the World Bank, a US government puppet, only concerns itself with what's good for the US and it's citizens.

 

 

19 hours ago, timendres said:

I suggest that US News attempt to start a small business in Thailand.

Then run it for one year.

 

They are not talking about little businesses, they are talking about billions baht factories and large multinational joint venture businesses. 

Although that said I've been involved in the startup of 2 SME businesses in Thailand with collectively 4 different companmy registrations and it wasn't difficult at all.