Over 22,000 business enterprises folded up last year

[webfact]

Over 22,000 business enterprises folded up last year



BANGKOK: -- About 22,500 business enterprises have registered to fold up their businesses last year representing an increase of 19 percent from 18,900 cases in 2014, according to the Business Development Department.

The department chief, Ms Pongphan Chienviriyaphan, said today that it was a normal practice around yearend when many operators registered with the department to fold up their business because they were reluctant to submit their financial budget to the department.

Also, she said that the tightening up of control over lottery trading had prompted many lottery traders to dissolve their businesses. Altogether 3,924 lottery traders folded up their businesses last year, including 831 cases in December alone, compared to 2,498 cases in 2014.

In December, altogether 3,237 companies and partnerships were set up, representing a decrease of three percent compared to the figures a year earlier. For the whole year, about 60,000 new companies were set up compared to 59,400 cases a year earlier.

Mrs Pongphan said that the number of new businesses was in line with global economic slowdown.

Source: http://englishnews.thaipbs.or.th/over-22000-business-enterprises-folded-up-last-year


-- Thai PBS 2016-01-14

[ggt]

Business enterprises folding up...78% of foreign investments dried up last year...but never fear dear PM...you can snooker the Thais like Obama did the US..."Thailand is in wonderful shape economically...do not let anyone tell you differently"...as the stock market tanks...wages go down...spending goes down...

[trogers]

I suspect 80% of these businesses are those used to buy properties that foreigners cannot legally owned...?

[Colabamumbai]

Business enterprises folding up...78% of foreign investments dried up last year...but never fear dear PM...you can snooker the Thais like Obama did the US..."Thailand is in wonderful shape economically...do not let anyone tell you differently"...as the stock market tanks...wages go down...spending goes down...

But we have close friends in China now....

[Krataiboy]

Are these registered businesses - or the countless thousands of unofficial businesses one can find sprouting like mushrooms in every town and city and disappearing as quickly as they appeared?

I suspect the real toll of failed enterprises is much higher, judging by the number I see go to the wall in my own backyard. Mostly, they are started by people with no business experience, a limited education and narry a clue about how to market and sell whatever it is they are offering.

In a society with virtually no social welfare safety net, it might be a good idea to provide some training for budding entrepreneurs, perhaps using the after-hours facilities of local schools where successful business people could pass on their know-how.

I'm sure local business organisations such as Rotary clubs would be happy to help.out, if asked.

[slapout]

If you mdo not want the government to know howw much money you made , laundered, skimed, etc, close your business.

good deal for the shifty ones.

The lottery vendors who were over pricing tickets may have fallen intothe aforementioneed situation. probably no great loss on most accounts as far as revenue to budget.

[wabothai]

And the excuses have been found again.

[jaywalker]

If you mdo not want the government to know howw much money you made , laundered, skimed, etc, close your business.

good deal for the shifty ones.

The lottery vendors who were over pricing tickets may have fallen intothe aforementioneed situation. probably no great loss on most accounts as far as revenue to budget.

There are a lot of companies (tour operators and construction contractors come to mind) that sell sell sell, never deliver, and just close their businesses and open up under a new name.

[Mr Money Bags]

Are these registered businesses - or the countless thousands of unofficial businesses one can find sprouting like mushrooms in every town and city and disappearing as quickly as they appeared?

If they were never properly registered in the first place, how or why could they possibly be properly wound down?

Maybe I am missing something here......

You're Welcome!!

[elgordo38]

60,000 new businesses set up. hmm really? In a year when there were obvious signs that things were heading south.

[dageurreotype]

Are these registered businesses - or the countless thousands of unofficial businesses one can find sprouting like mushrooms in every town and city and disappearing as quickly as they appeared?

I suspect the real toll of failed enterprises is much higher, judging by the number I see go to the wall in my own backyard. Mostly, they are started by people with no business experience, a limited education and narry a clue about how to market and sell whatever it is they are offering.

In a society with virtually no social welfare safety net, it might be a good idea to provide some training for budding entrepreneurs, perhaps using the after-hours facilities of local schools where successful business people could pass on their know-how.

I'm sure local business organisations such as Rotary clubs would be happy to help.out, if asked.

Heaven forefend! No, let them keep opening up massage/bewtEE/beerbars every ten meters. Whoops! Sign of the times, they've already stopped opening more and many gone to the wall.

[SOTIRIOS]

...when only the money is welcome....and not the people....it makes it extra difficult....

...trying to comply with unfair scenarios......forced to 'skirt the law'....and falling prey to local predators.....

...that's why all you hear lately is:

-bring in rich....'quality tourists'

-up the numbers.....

...blind, greedy grabbing.....giving little or nothing in return....

[fred Kubasa]

And the other 30,000 who didn't "register" ?