Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Economic slowdown drags new business registrations down 22% in November – Full Analysis.
Business closures totalled 2,494 in November 2025, up 9% month-on-month from 2,298 in October, but down 13% year-on-year from 2,852 in November 2024.
Over the past five years (2020-2024), the ratio of new registrations to closures averaged 4:1. For January-November 2025, the ratio improved to 5:1, which the DBD said indicates an overall positive trend and sits clearly above the five-year average.
As of November 30, 2025, Thailand had 2,044,893 registered legal entities with total registered capital of 31.73 trillion baht. Of these, 970,081 entities were operating, with total registered capital of 23.32 trillion baht, comprising:
- Limited companies: 770,906 (79.47%), registered capital 17.27 trillion baht
- Limited partnerships and ordinary registered partnerships: 197,671 (20.38%), registered capital 0.43 trillion baht
- Public limited companies: 1,504 (0.15%), registered capital 5.62 trillion baht
By sector, the largest share of operating entities was in services (526,117, registered capital 13.60 trillion baht), followed by wholesale/retail (318,212, 2.62 trillion baht) and manufacturing (125,752, 7.10 trillion baht)—accounting for 54.24%, 32.80%, and 12.96%, respectively.
Poonpong added that over the past 11 months, Thailand registered more than 80,000 new businesses, and the full-year figure is expected to meet the target of around 85,000.
“Business registration is one indicator of economic conditions. This year we faced an earthquake, natural disasters, and a conflict with a neighbouring country, but keeping the economy at this level is satisfactory—though ideally, growth should be stronger,” he said.