Commerce Ministry: January’s new business figure increases 12%

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BANGKOK, 17 Feb 2015, The Commerce Ministry has indicated that a total of 5,980 businesses were registered in January, an increase of 12% year-on-year. It said the number of audit companies is particularly rising as the Government has tightened tax collection measures.

Director-General of the Department of Business Development Phongpan Jiarawirayaphan said the number of new businesses last month was also a jump of 80% compared to December last year, with a registration capital of 18.6 billion baht.

According to her, the major driving force behind the rise was the Kingdom’s economic recovery. The Bank of Thailand predicted that this year the nation would be able to achieve a 4-5% economic growth

Miss Phongpan said that last month saw 1,380 companies make an exit from the market, a decrease of 3% compared to the same period last year. The business termination capital was at 3.9 billion baht.