First quarter new business registrations dominated by real estate, restaurants
Last month alone, there were more than 9,179 new business registrations with a combined capital investment of nearly 300 billion baht
Restaurants, real estate, and construction businesses saw an upswing in new registrations in the first quarter, pointing to Thailand’s steady economic recovery.
There were 26,182 new business registrations, an increase of 17% year on year, data from the Department of Business Development released by Deputy Prime Minister and Commerce Minister Jurin Laksanawisit showed.
Last month alone, there were more than 9,179 new business registrations with a combined capital investment of nearly 300 billion baht.
The data showed real estate as the top sector with 752 new business registrations, accounting for 8%, followed by construction with 699 registrations, accounting for 7%, and restaurant/hotel with 440 registrations, accounting for 5%.
Economic indicators such as the consumer confidence index and the business confidence index, along with the slowing inflation, have pointed to the steady recovery of the Thai economy.
It is estimated that the number of newly registered businesses in the first half of the year will be around 40,000-42,000 and about 72,000-77,000 for this year.
Classified by the amount of capital investment:
— 5,943 businesses (64.75%) have a registered capital of less than 1 million baht.
— 3,090 businesses (33.66%) have a registered capital between 1-5 million baht.
— 117 businesses (1.27%) have a registered capital of 5-100 million baht.
— 29 businesses (0.32%) have a registered capital exceeding 100 million baht.
Among new businesses registered in the first quarter of this year, 26,182 were limited partnerships and company registrations nationwide, compared to 22,347 in the first quarter of 2022, an increase of 3,835, or 17%.
The top three types of new business registrations were: Construction with a total of 2,118, real estate with 1,916, and restaurants/hotels with 1,228. The total value of newly established businesses was 339.595 billion baht, up from 74.397 billion baht in the first quarter of 2022, a 356% rise.
The data showed 1,102 businesses with a registered capital of 22,684.96 million baht closed down their businesses. The top three categories over the past 5 years were: 122 construction businesses, 58 real estate businesses, and 29 restaurant/food businesses.
