Registrations of new businesses are up 4%

[webfact]

Registrations of new businesses are up 4%
By   PETCHANET PRATRUANGKRAI

The Nation

 

BANGKOK: -- ALTHOUGH NEW business registrations declined year on year last month, new company registrations in the first nine months rose by 4 per cent to 48,987 firms, ensuring that this year the number of new companies will surge by 60,000-65,000, according to the Commerce Ministry. 

 

Banjongjitt Angsusingh, director-general of the Business Development Department, said more investors were expected to start new companies in the remaining months of this year as a result from the government’s investment-promotion measures and strong tourism growth. 

“Thailand will maintain the momentum of promoting investment under a strategy to develop the local economy and increase employment. The plan to encourage the setting up of start-ups and small and medium-sized enterprises will help increase investment,” she said.

 

Full story: http://www.nationmultimedia.com/news/business/macroeconomics/30298227

 

-- © Copyright The Nation 2016-10-24

[yellowboat]

"The department expects most of the new companies will be in the construction, property-development, restaurant, consultancy, and machinery businesses. "

 

It lacks a bit of detail.  Restaurants come and go in every country.  Is there not a surplus of housing, factory and business space ?   Consultancy ?   That is a tad vague.  Machinery sounds interesting.  Too bad they did not go into more details about that.

[Tatsujin]

9 minutes ago, yellowboat said:

"The department expects most of the new companies will be in the construction, property-development, restaurant, consultancy, and machinery businesses. "

 

It lacks a bit of detail.  Restaurants come and go in every country.  Is there not a surplus of housing, factory and business space ?   Consultancy ?   That is a tad vague.  Machinery sounds interesting.  Too bad they did not go into more details about that.

 

They can't go into detail, they haven't had time to make it up yet.

 

And TAT will be announcing within a week record numbers of arrivals also, and a 2 zillion % increase of bookings for Xmas and New Year.

[RichardColeman]

It's all very well publishing details of new start up businesses, but without showing what businesses have either gone bankrupt or stopped trading, it's hard to see if this is a plus or so negative.

[ScotBkk]

54 minutes ago, RichardColeman said:

It's all very well publishing details of new start up businesses, but without showing what businesses have either gone bankrupt or stopped trading, it's hard to see if this is a plus or so negative.

Ineffective Public Policy Initiative?

It's the usual deception manner that really doesn't make paradise any more shiny, clear or polished. In fact, it's downright laughable 

with all the world facing problems one way or the other and here they find a niche in the market place to exploit more business to include more inroads into tourism. It's a false sense of security and confabulation comes to mind. 

Edited October 24, 2016 by ScotBkk

[waldroj]

Some mixed messages here (with some populist politics and potentially serious future risks as well) !!!

 

The headline reads "Registrations of new businesses are up 4%", yet where told in the article that "...The number of new business registrations in September declined by 2 per cent...while initial investment capital was down 51 per cent year on year...".

 

This should be raising some red flags for the junta and its cronies, especially as they have been offering SME's the opportunity to borrow up to one million baht with no interest for seven years (https://is.gd/Ojd8mf).

 

So, the Commerce Ministry may well believe the number of new companies will surge by 60,000-65,000, especially as their plan is to encourage the setting up of start-ups and small and medium-sized enterprises.

 

However, it's questionable that this will actually help attract private investment, and the real concern should be "how many of these SME's (having borrowed Public money) will be viable and survive, AND (more importantly) be able to repay their debt" ???

[Grubster]

Its way to easy to mix numbers around constantly changing peramiters to make a positive report. Observing your local shops and markets would be much more accurate I think. I see a big slow down. You?

[Caveat Emptor]

Strong tourism growth, perhaps not the best time to be claiming this but not that it will matters because figures for the rest of the year will be positive. In fact they could probably be announced now rather than wait until the 1st January.

[baboon]

2 hours ago, RichardColeman said:

It's all very well publishing details of new start up businesses, but without showing what businesses have either gone bankrupt or stopped trading, it's hard to see if this is a plus or so negative.

Indeed. It looks to me like the usual desperately upbeat sleight of hand 'figures' employed by struggling governments when the real forecasts are gloomy...

[DuiDui48]

55 minutes ago, Grubster said:

Its way to easy to mix numbers around constantly changing peramiters to make a positive report. Observing your local shops and markets would be much more accurate I think. I see a big slow down. You?

We have had a small Restaurant in Udon-Thani for nearly 9 years now,and doing okey,not doing us rich but it's paying for a secondhand car my wife bought.The banks always tell us..."Your bankstatment/creditcards (two) very very nice,you need borrow moore money ?"-No thank you..is the answer.

But how many of our Thai friends just borrow money because they have landpapers or someone co sighning their loans,and they have now clue usually how to run a buisness at all,realy sorry to see how in many times in less then a year..it's closed...usually they closed just after 3-6 month.

 

The banks NEVER ask if they have done any research at all.do you have any experience runnig a buisness,nada..Losing face is NOT and never will be an option..and asking relevant Q:s from the bank to a possible customer,that's losing face.

[elgordo38]

4 hours ago, yellowboat said:

"The department expects most of the new companies will be in the construction, property-development, restaurant, consultancy, and machinery businesses. "

 

It lacks a bit of detail.  Restaurants come and go in every country.  Is there not a surplus of housing, factory and business space ?   Consultancy ?   That is a tad vague.  Machinery sounds interesting.  Too bad they did not go into more details about that.

Yes the devil is in the details. A tad optimistic you say yes it surely is. Government numbers are like rubber and tend to bounce all over the place. The words rise, optimism up up and way seem to be the flavor of the day. When reading the Business section of the English language newspaper you seldom see the word down or will fall or negative its all positive from the first page to the last. I guess they are all smoking the same stuff. 

[Grubster]

37 minutes ago, DuiDui48 said:

We have had a small Restaurant in Udon-Thani for nearly 9 years now,and doing okey,not doing us rich but it's paying for a secondhand car my wife bought.The banks always tell us..."Your bankstatment/creditcards (two) very very nice,you need borrow moore money ?"-No thank you..is the answer.

But how many of our Thai friends just borrow money because they have landpapers or someone co sighning their loans,and they have now clue usually how to run a buisness at all,realy sorry to see how in many times in less then a year..it's closed...usually they closed just after 3-6 month.

 

The banks NEVER ask if they have done any research at all.do you have any experience runnig a buisness,nada..Losing face is NOT and never will be an option..and asking relevant Q:s from the bank to a possible customer,that's losing face.

You are so right it makes me sick to my stomach. I know a few that won't take loans against their land but that is the exception. I see the banks and big business taking over the farming industry within 30 years. Why else would a bank tell you that they will loan you money without being asked? They know most of these people will not make a go of it. Same thing happened to the American small farmer years ago. It is far and away the cheapest way to buy the land isn't it. One surely needs to know that banks are not friendly. 

[goldenbrwn1]

4% rise in businesses, all of the apparel type. Black and white apparel.