New business starts hits monthly record in August

Breaking News September 14, 2017 14:31

By The Nation

August set a four-year record for the number of newly registered businesses in a month, said the Department of Business Development.

Some 7,159 new businesses registered in August, up 15 per cent compared to the same month last year. 

New company registrations for the first eight months of the year totalled 49,080, up 14 per cent compared to the same eight-month period last year.

The department predicted that the number of newly registered firms would reach 66,000 this year. The increases are being driven by higher confidence among business people due to the ongoing recovery of the Thai economy – especially in export and tourism sectors – as well as the government’s measures to stimulate SMEs and expenditures in mega infrastructure projects.

The top five categories of businesses registered in August were building construction, real estate, restaurants and food shops, transportation, and management consultancies.

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