Rise in number of new businesses

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Rise in number of new businesses 
The Nation: 18 Sep 2010
Rise in number of new businesses
By PETCHANET PRATRUANGKRAI
THE NATION
Published on September 18, 2010

The number of newly registered companies significantly increased last month by 18 per cent year on year to 4,447 firms, a rise attributed to continued economic growth drawing new investors and enterprises.

The number of business shutdowns also dropped 5 per cent year on year, to 1,244 firms in August.

"The rising number of new firms and the drop in business collapses shows the country's economy is on the rise.

More new firms should be seen in the coming months, and that will help promote strong economic growth," Deputy Commerce Minister Alongkorn Ponlaboot said yesterday.

Despite concerns over fresh red-shirt protests, Alongkorn said this should not slow growth in new-business expansion in the future.

The stronger baht and clear signs of economic recovery will promote more investment, he said.

Moreover, to facilitate new-business registration, the Business Development Department will begin a single-service-point project on October 1 to provide three documents at one registration location for new entrepreneurs.

The single service point will shorten time for new-business registration from four days to 90 minutes. Compared with July, the number of new companies last month was up by 16 per cent from 3,822 firms. New-businesses registrations in August and those expected in coming months are mostly in the entertainment and recreation, construction, property development and service sectors.

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The rising number of new business means good for the future for a nation. These only not mean that a nation is recovering form the financial crisis but the business society as well. It will also mean more jobs for the peoples that has became stagnant because of the crisis.