Published on February 16, 2008
"Investors have gained more confidence to run a business, in particular a construction business, because they see an opportunity to grow from the government mega-projects investment," Phanit Lortragool, deputy director-general of the Business Development Department, said yesterday.
A department report said the increase in new businesses was 120.1 per cent on the month, and 13.09 per cent, or 506 enterprises, on the year.
The recovery in business starts could indicate that entrepreneurs are now upbeat after lying low last year due to the economic slowdown.
The most popular kinds of new businesses were construction, real-estate development and services.
Last month 1,199 businesses raised their capital by a combined Bt13.27 billion. Construction, property development and other services were also the leaders in increasing investment.
Businesses that shut down last month dropped by 61.05 per cent, or 2,199 firms, compared to December last year, while slightly increasing by 5.73 per cent or 76 firms year on year. Construction, other services and alcohol manufacturing companies were the main failures.
Of the 541,785 registered companies doing business, 48,883 are in construction, 21,556 are in development and 14,733 are in other services, the report said.