New business registrations in 2024 up 2.3% over the previous year
Despite growth, it falls short of government’s 5% target for the year
Thailand saw a total of 83,219 new businesses being registered in the first 11 months of 2024, up 2.37% over the previous year, deputy government spokesperson Sasikarn Wattanachun said on Wednesday.
She said these new businesses have a combined registered capital of 262.85 billion baht, while the top three businesses with the most number of new operators were real estate agencies, construction contractors, and restaurants, respectively.
Sasikarn pointed out that factors supporting new business registrations in 2024 include the recovery of the tourism industry, improved consumer spending, establishment of new factories in various regions, and continued government economic stimulus measures.
The government estimates that total new business registrations in 2024 would reach 89,000 companies, up 3% year on year. This number is, however, lower than the government’s new business registration target of 5% set earlier this year.
As of November 30, there were 944,008 registered business entities in Thailand, with a combined registered capital of 22.5 trillion baht. Of them, 740,373, or 78.43%, are limited companies, 202,152 (21.41%) are limited or ordinary partnerships, and 1,483 (0.16%) are public limited companies.
