Thailand sees more businesses registered in 2024, but less capital

The Business Development Department saw the registration of 69,686 new businesses in the first nine months of this year, the department’s chief said on Wednesday.

Oramon Sapthaweetham, the department’s director-general, told the press that 1,021 or 1.49% more businesses had registered this year compared to the same period last year.

Registered capital, however, was 285.89 billion baht or 57.83% less compared to last year, she said. The combined capital of the newly registered businesses as of September came in at 208.48 billion baht, Oramon added.

In September alone, she said, 7,867 new businesses were registered with 22.05 billion baht as registered capital.

Last month also saw 760 or 10.69% more companies register compared to September 2023, though the amount of registered capital had dropped 2.12 billion baht or 8.78% in comparison.

However, September did see the registration of the property management company Grand Residence International Co Ltd, with a capital of 1.52 billion baht.

The top three businesses registered in September were:

• Construction: 620 companies with 1.35 billion baht of capital
• Property: 531 companies with 347 billion baht of capital
• Restaurants: 374 companies with 716.75 million baht worth of capital

Oramon said the combined capital of new companies this year was less than last year because the first three quarters of 2023 saw two companies register with more than 100 billion baht worth of capital each.