Starting A Business In Thailand?

[canthai123]

Hi all, this my first post. I have been reading many posts on business start-up. But, I can't find anything on the total start up fee dealing with the Thai authorities. For eg. If I want to open my own concrete forming business. I already have land to do this. My question is how much money do I have to have to open a biz. I can start this biz for about 100,000Bt. Sorry, if this is posted somewhere else. I couldnt find a post that relates.

[bojo]

Hi all, this my first post. I have been reading many posts on business start-up. But, I can't find anything on the total start up fee dealing with the Thai authorities. For eg. If I want to open my own concrete forming business. I already have land to do this. My question is how much money do I have to have to open a biz. I can start this biz for about 100,000Bt. Sorry, if this is posted somewhere else. I couldnt find a post that relates.

If you're going to run this business yourself and you are a foreigner you will need a work permit and a company set up and the appropriate visa for the work permit. Cost of WP and company around 40-50K depending on services required by local accountancy firm.( There are monthly and annual charges, but they aren't initial set up costs and are not expensive by any means for a small business) Alot cheaper if you do it yourself but unless you can speak Thai and know your way around Thai government offices, I suggest you employ an accountant/agent. You can literally start a business like you mention in Thailand without alot of red tape, your company will give you the permission you need. Some areas have zoning but unlikely.

The most important thing IMO to consider when opening a new business here in the Kingdom, is to ask yourself the question... Who will I upset and who will be affected/jealous of my operation if it is successful? That doesn't mean to say you don't start anything up but before you invest your hard earned cash, you can ask this question and with any answers/scenarios you can come up with, you can then adjust accordingly.

I imagine in the concrete forming business local to you there will be some local suppliers somewhere. Take them into consideration . It would help if you we're married to a local lass who's family have influence.

I heard a story after I had moved away from Koh Samui about a foreigner who opened or at least tried to open a concrete supply company with his own trucks. It proved tricky with the locals and I don't know the outcome. It's a third hand story so I don't know the exact details but I don't think things worked out quite as he had expected.

Other expenses would be a truck of some kind as lost shops selling construction related materials will deliver. 4 wheel drive will give you an advantage of being able to deliver to locations where other shops cannot or will not deliver to.( eg hilly areas).

I assume your 100K you mentioned your moulds for the forming and any other miscellaneous expenses.

Depending on your market will effect your advertising and marketing budget. The skies the limit depending on whether you want to supply other construction material shops or direct to the end user. Thai or foreign will incur different costs as sales staff salaries vary as do newspaper advertisng rates. There are many variable costs which you will have to evaluate yourself.

I'm sure there are other costs which others will add.

You could of course start up without any legal set up costs as alot of Thai's do who don't want to pay tax. If you have a Thai wife/girlfriend that would be possible as she could run things on your behalf but woe betide anyone who gets caught working/helping out. See other threads on TV.

regards Bojo

[bungy007]

Hi all, this my first post. I have been reading many posts on business start-up. But, I can't find anything on the total start up fee dealing with the Thai authorities. For eg. If I want to open my own concrete forming business. I already have land to do this. My question is how much money do I have to have to open a biz. I can start this biz for about 100,000Bt. Sorry, if this is posted somewhere else. I couldnt find a post that relates.

It really is a suck it and see situation. No two people share the exact same experience out here so you must just take a gamble and hope that you can defray the costs as they occur. good luck