New company registrations to rise this year, says the Business Development Department (DBD)

December 25, 2020

The Business Development Department expects to see 64,000-66,000 newly registered companies in 2021, said deputy director-general Sorada Lertarpachit.

The estimate assumes that no significant unforeseen factors will arise.

The rate at which new companies are forming is on the rise as the economy moves into recovery, she confirmed.

However, the department is evaluating the impact of the latest Covid-19 outbreak on the rate of company formation, she added.

The number of new companies in 2020 is expected to be between 63,000 and 64,000, down from 71,485 last year due to the impact of Covid-19.

The first 11 months saw 60,053 new companies registered, down 12 per cent. Their capital was Bt207.688 billion, down 32 per cent. The number of dissolved companies in the same period was 14,907, down 9 per cent, with capital of Bt75.133 billion, down 17 per cent.

A total of 4,479 business operators applied to set up companies in November, down 17 per cent from October, and with total registered capital of Bt15.599 billion. It was usual to see a relatively small number of applications for new businesses at the end of the year, Sorada said.

Source: The Nation