New Business Registrations Up 8.4% in February 2023

April 3, 2023

The Department of Business Development (DBD) has reported an increase in new business registrations in February.

According to DBD Director-General Thosapone Dansuputra, the total number of new registrations was 8,537 – a 0.84% increase from January and an 18.39% increase from the same period last year. The top three industries with the most new registrations were general construction businesses with 715 registrations, followed by real estate businesses with 619 registrations, and restaurants with 409 registrations.

The total capital value of these new registrations was 19.1 billion baht, an 8.19% decrease from January and a 1.22% decrease from February 2022.

While there was a decrease in the number of businesses that deregistered in February 2023 compared to January 2023 at 869 businesses or 33%, there was an increase in the number of deregistrations compared to February 2022 at 29.90%. The top three industries with the highest number of deregistrations were general construction businesses with 89 deregistrations or at 10%, followed by real estate businesses with 45 deregistrations, and retail businesses with 25 deregistrations.

In addition, businesses related to tourism had a registration rate that was 1.1 times higher in February 2023 than in the same period in the previous year. These businesses accounted for 8.05% of all new registrations in February 2023, including travel agencies, tour leading businesses, foreign currency exchange businesses, restaurants and hotels.

This increase may be due to the improving overall economy and the increasing number of tourists visiting the country, as reflected in consumer and business confidence indices that have been consistently increasing.

Source : National news bureauof thailand