1,973 Thai businesses close shop for good in October
As many as 1,973 businesses with a total registered capital of 7.3 billion baht ceased operations last month, the Business Development Department said.
Jittakorn Wongkhetkorn, deputy director-general of the department, said on Tuesday that the top three businesses that shut down were:
• General construction: 166 firms (8% of total)
• Real estate: 125 (6%)
• Restaurants: 44 shops (2%)
He said most of the businesses that closed operations in October had a registered capital of 1 million baht or less.
The registered capital of the 1,973 companies was:
• 1 million baht or less: 1,417 (71.82%)
• 1-5 million baht: 472 (23.93%)
• 5-100 million baht: 78 (3.95%)
• Over 100 million baht: 6 (0.30%)
However, Jittakorn said, 5,911 new businesses were set up in October with a total registered capital of 34.61 billion baht.
He said the top three types of newly registered businesses in October were the same as those that closed down in the month.
• General construction: 502 companies (9%)
• Real estate: 479 (8%)
• Restaurants: 273 (5%)
As of October, 849,958 businesses with a combined registered capital of 20.56 trillion baht were still in operation, Jittakorn said.
Despite the closure of so many businesses in the month of October, the Bank of Thailand and commercial banks maintain their projection of a 3.2-3.3% economic growth in Thailand.
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