Number of new companies increase by 3% in Feb

[webfact]

Number of new companies increase by 3% in Feb

 

BANGKOK, 14 March 2017 (NNT) - More than 5,700 new companies registered with the Ministry of Commerce in February. The ministry has expressed confidence that the continuously recovering economy will lead to an increase in new companies by more than 66,000 companies this year. 

Director General of the Department of Business Development Banchongchit Angsusing said the number of new companies registered with the ministry increased by 153 companies or 3% compared to the same period last year. Their combined registered capitals totaled more than 26 billion baht, said the official. 

The economic recovery in Thailand and the government's stimulus measures resulted in the increasing number of new companies so far this year, said Ms. Banchongchit. 

The department will launch an e-registration service for new companies on 20 March 2017. The director-general confirmed the system had security on a par with international standards and expected that 50% of new companies would register with the e-registration system each month.

 

-- nnt 2017-03-14

[kannot]

unfortunately somchai and his  noodle  store dont really count, then theres  the amount of closures..wheres  the figures for that?

As for security.....................lets  see, is the  immigration website  working again yet, 90 day reporting etc been down for 3  months now?

[Thechook]

What exactly is considered a company in Thailand, do small businesses being registered qualify?

[Emster23]

2 hours ago, kannot said:

unfortunately somchai and his  noodle  store dont really count, then theres  the amount of closures..wheres  the figures for that?

As for security.....................lets  see, is the  immigration website  working again yet, 90 day reporting etc been down for 3  months now?

Do wonder about the number of old businesses closing figures. When closing up shop, do they bother to deregister? Like when I die, I must remember to remove self from voter rolls to keep Trump happy.

[whatawonderfulday]

7 minutes ago, Emster23 said:

Do wonder about the number of old businesses closing figures. When closing up shop, do they bother to deregister? Like when I die, I must remember to remove self from voter rolls to keep Trump happy.

To close a company in Thailand is bit long winded and costs money.  After a period of time assuming there are no annual account submissions and no trading, then that company will be struck of the companies register automatically  ( without cost ). so guess what the directors of those smaller companies allow to happen ?  As a consequence there is a few years lapse between when a company last traded and when it does not exist. During that interim period of course it is still a registered company for record purposes.

[ezzra]

As usual in Thailand that ' good  news ' are quickly put out there while

not so good news are either ignored or just get swiped under the

proverbial carpet..... 

[elgordo38]

7 hours ago, webfact said:

The economic recovery in Thailand and the government's stimulus measures resulted in the increasing number of new companies so far this year, said Ms. Banchongchit. 

Any chance of knowing how many went out of business? Looking around where I live they are moving around faster than fleas on a dogs back. If they are lucky enough to be successful the greedy landlord steps in with a stiff rent increase. As my friend says if you see something you need buy 2 because you could need another one in the near future and your supply has dried up. 

[candide]

7 hours ago, Thechook said:

What exactly is considered a company in Thailand, do small businesses being registered qualify?

Such as Som Tam shops?

[Redline]

How many companies died?

[khunpa]

4 hours ago, elgordo38 said:

Any chance of knowing how many went out of business? Looking around where I live they are moving around faster than fleas on a dogs back. If they are lucky enough to be successful the greedy landlord steps in with a stiff rent increase. As my friend says if you see something you need buy 2 because you could need another one in the near future and your supply has dried up. 

Will be hard to know, since closing a company is more difficult and costly than opening one. So when you go bankrupt with a company, you are suddenly faced with even more problems to close the company officially. Thats why thousands of companies exist here, but are just dormant. 

 

If the 3% is correct, then I am happy for Thailand. But overall the economy is still only going one way... Down!. And I am pretty sure they can forget their ambitions of more foreign investment. 

[elgordo38]

1 hour ago, khunpa said:

Will be hard to know, since closing a company is more difficult and costly than opening one. So when you go bankrupt with a company, you are suddenly faced with even more problems to close the company officially. Thats why thousands of companies exist here, but are just dormant. 

 

If the 3% is correct, then I am happy for Thailand. But overall the economy is still only going one way... Down!. And I am pretty sure they can forget their ambitions of more foreign investment. 

They seem to hold out a carrot to wanna be investors but on closer inspection the carrot looks wilted not smooth to the touch and seems to have thorns attached.