Complete novice needs some SME help

[nerjaron]

My wife and I have been discussing how we may be able to help her son and his girlfriend to set up a small business (hairdressing/cutting/beauty).  Her son and his girlfriend are both working in fairly low paid jobs with little prospect for advancement and they are ready for a complete change. Neither has been in business before and neither is qualified in the work they would like to do. Both are mid 30's. They are aware that they would have to attend training courses before setting out on such a venture.

 

My wife and I are prepared to pay for their training and even build a salon on my wife's land (further down the line) near Non-sung in Korat province. The larger proportion of the outlay would naturally come from me and I am prepared to take the risk that the venture might fail and I would like some guidance from those of you who have already been down this road in Thailand so that I may avoid some of the pitfalls. Some questions which come readily to mind:-

 

1.  I am 74 (my wife is 61) - would the powers that be even contemplate allowing me to be involved in a business at this age?

2. I am aware of the 51% Thai ownership provision, and if my participation is acceptable I am thinking that my wife, her son and his girlfriend should have equal shares of 17% each and I would hold 49% - is this reasonable? I would effectively be a "sleeping partner".

3. Does the business have to be registered? If so, how and with whom?

4. Do business start-up loans exist here? How and where to apply?

5. Are there any hair cutting, nail technician or ladies hairdressing training courses in Korat?

6. Apart from providing finance and business advice would I be able to do admin work and financial control?

7.  Can anyone point me in the direction of any written or internet advice (in English) on these topics?

8. I know there will be thousands of things to consider so any additional advice would be greatly appreciated.

 

Thanks in anticipation of some constructive replies. 

 

 

 

[nerjaron]

I posted the above 5 days ago and not a single reply!

 

As I am still a comparative novice on this site I have obviously gone wrong somewhere - did I post in the wrong forum? Have I breached a Forum rule? Please someone tell me how to get my original post some comments - it is a very genuine and serious request and I would be grateful for some guidance. Many thanks.

[Trippy]

Your best bet would be to go ask a competent attorney.

Initial consultations are usually free, even in Thailand.  

Edited August 6, 2023 by Trippy