Nearly 2,000 Thai businesses forced to close in July

Many Thai businesses are struggling to continue operations, with 1,867 enterprises shutting up shop in July, The Nation newspaper reported.
Nearly 2,000 Thai businesses forced to close in July ảnh 1Illustrative image (Photo: The Nation)

Bangkok (VNA) - ManyThai businesses are struggling to continue operations, with 1,867 enterprises shutting up shop in July, The Nation newspaper reported.

The figure represents an18.70% increase compared to the same period last year, but in line with thetrends in business closures over the past five years, it said.

Sources at the Ministry of Commerce said some of the businesses closed due to their adjustmentsto align with changing market conditions and consumer behaviour. The closuretrends have been observed across various sectors, with general construction recording175 closures (9%), real estate 103 (6%) and hotels/restaurants 43 (2%).

The ministry also categorisedclosures based on capital ranges. Businesses with a capital of less than 1million baht (23,368 USD) accounted for 1,342 closures (71.88%). Those withcapital between 1 and 5 million baht saw 455 closures (24.37%), those withbetween 5 and 100 million baht accounted for 63 closures (3.37%), and thosewith capital exceeding 100 million baht saw 7 closures (0.37%)./.

VNA

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