If you are a foreigner in Thailand and you want to start a business, there is a lot of restrictions set in place making the process a bit of a minefield. However, there is plenty of help available that can not only help you start your business but also to grow it into a success. If you are thinking of starting a business or already have one and you want to push it to the next level, here are some tips to help you grow it into a successful company.
You Need A Lawyer
Although you could technically set up a business and get it registered without the services of a lawyer, the process is much easier if you do have one. They will be able to take care of all the details to ensure that everything is above board, and the correct paperwork is filed. The services of a lawyer can vary quite drastically, and it can cost from anywhere between 15,000 Baht to 100,000 Baht +. Shop around for a reputable lawyer and make sure that you ask them lots of questions before choosing to go with one.
You Also Need A Knowledgeable Accountant
An accountant can also do the same job as a lawyer and help you to set up a business, and it is good to be able to use their knowledge to ensure that you set everything up correctly. They can assist you in the formation of a company, as well as the monthly running of it, submitting the necessary paperwork each month and paying your taxes. There is also various types of accounting software Thailand companies use to manage their books. However, there is so much more a reputable and qualified accountant can do for your business that you may need to consider both options.
Marketing Your Business
You will also need to consider marketing your business, no matter what industry you are in or where your target audience is located. There is a lot that you can do yourself, such as setting up a website and adding optimised content so that it gets found in the search engines. However, when it comes to digital marketing and running a business at the same time, you may get stretched. It is advisable to select a company to partner with to take care of your marketing. Having an effective marketing campaign can make or break a business, especially when it is starting.
Get Industry Advice
You may also wish to join various business forums and social media groups which can put you in contact with similar companies in your industry. Although these companies may compete with you, they can also offer valuable advice and help you avoid pitfalls that they may have encountered when starting up their company. No matter how much experience you have, or how knowledgeable you are, never be afraid to listen to what others have to say, you can learn a lot.