SME business in Thailand is the top choice for foreigners, especially in Bangkok. Many foreigners are drawn to Thailand, eager to start their own businesses. Before starting an SME company, it’s crucial to identify which business is best suited and likely to succeed in Thailand. The foreigners need to learn as much as they can about the nature of Thai people and also about Southeast Asia for expanding their business in the future.
Top 7 Promising SME Business Ideas for Foreigners in Thailand
Food & restaurants
Bangkok is the centre of food and restaurants. There are many nationalities of food: Thai, Chinese, Japanese, Indian, Western, American, etc. And there are many areas for food and restaurants: street food, truck food, market food, and restaurants. Therefore, it is a good idea to start SME business in Thailand. If you are specialised in your national food, you are able to open a restaurant in a fine area such as a building in business zone, a shopping mall, a department store, or in the area around Bangkok.
Moreover, food production or catering can be a successful business in Thailand as well. Importing or exporting fresh food is a good idea to start an SME business in Thailand because of the government’s support for the tax exception. And plenty of food will be trafficked in Thailand and other countries around Southeast Asia.
With the nature of Thai people, food is very important for their way of life. Therefore, if a foreigner is interested in starting SME business in Thailand, food and restaurants can be a good choice, which have no way to be unsuccessful with their good taste, reasonable price, and good services. Food and restaurants are a great idea to start SME business in Thailand, and you can search for more information at REPORTERLINKER
Tourism
tourism business is very popular in Thailand and many other countries around the world. Exploring new places is very interesting for people, and Asian countries are quite new places for people around the world to explore. You are able to be a part of tourism business for example.
Hotel business
There are many kinds of hotels in Thailand: hotel, hostel, guesthouse, or homestay. Foreigners starting business in Thailand will have various choices to suit the nature of tourists and their style.
Travel agency
In Thailand, booking travel is a very popular industry. There are many travel agencies in Thailand actually. The tourism industry in Thailand is expanding annually, so there is still room for more agencies in this business. Additionally, you can operate a domestic or international travel agency that caters to both Thai and foreign travellers, as both groups typically wish to see other parts of the world in addition to Thailand.
Car rental business
The car rental industry grows in tandem with the tourism industry when travel becomes more popular. Purchasing vehicles for tourists to rent is a great way to launch a small to medium-sized enterprise (SME) in Thailand. As a result, you will make significantly more money in the major tourist destinations with high visitor traffic.
Tourism is the big industry in Thailand, which foreigners are allowed to start the business in Thailand in this industry. Also, numerous tourists around the world are heading to cities in Thailand; Bangkok, Chiang Mai, or Phuket, and many other cities around Thailand, which are very impressive to tourists with various ancient places, various cultures, and various kinds of festivals. This type of business is a good chance for foreigners to start business in Thailand.
Advertising and Marketing
This business in Digital 4.0 era is much more popular and the competition in Thailand is quite interesting for joining. Starting an SME in Thailand as an advertising and marketing agency is a great idea for foreigners with expertise in the field. You can bring a fresh vision to advertising and marketing in Thailand.
Moreover, Thai people use social media a lot, which digital advertising will reach the target consumers very easily. And, the growth of this business is higher and higher every year as the statistic Therefore, being a part of this business will make you achieve your goal of starting SME business in Thailand very easily.
Jewelry
Jewelry is a good idea for foreigners who are interested to start SME business in Thailand. Thai people love to wear the jewelry and Thailand is a big market for various kinds of jewelry. You can search for the sources of materials in Thailand and run the production by your own, or you are able to be the agent for selling jewelry in Thailand and other countries around the world.
Furthermore, you are able to import good design of jewelry around the world with the government promotion support to SME business. And, you will have many channels to sell; shops beside the road, shops in the department store, shops in the hotels, and online shop in social media. With the good design and reasonable price, you can be successful in starting SME business in Thailand. The jewelry market in Thailand always opens to new investors.
Healthcare
Thai people and global populations are increasingly focused on health. Starting a business in healthcare products or healthy food is trending in Thailand. If you have expertise in health nutrition, you can start a business and export globally.
Opening a gym, fitness center, or sports club is popular in Thailand. Specializing in health or fitness can help you enter this growing market.
Healthcare and business related to people health should be the good step to start SME business in Thailand right now. You can search for the trends in Thailand as link: https://www.statista.com/outlook/313/126/fitness/thailand.
Logistics
Thailand’s shift to Thailand 4.0 is increasing the flow of people and products. The AEC project, supported by Thailand and Southeast Asia, is advancing well. The logistics sector is growing rapidly alongside this project. Logistics includes international trade, inland transportation, and local delivery, such as inter-provincial mail and express services.
Many manufacturers are located in Thailand and most of them need to export their products to other countries. The logistics business can support them to export their products and import some raw materials for production. Therefore, the logistic market is quite huge and is a good opportunity for foreigners to start SME business in Thailand.
Thai people are social media enthusiasts and prefer online shopping. Digital advertising significantly influences their choices. Consequently, SME businesses in online shopping, drop-shipping, and express delivery are rapidly growing.
The logistic business in Thailand is tended to grow up more and more in each year and assumed to be worldwide according to AEC project supported by the government.
Machinery
As the center of industrial business and manufacturing in Southeast Asia, Thailand still needs high-quality machines from professional suppliers. Despite Thailand’s long-established manufacturing sector, machinery development lags behind the advancement of consumer products.
Many manufacturers seek high-quality, affordable machinery to control costs. Foreigners can consider starting an SME as machinery distributors or producers.
Thailand’s diverse manufacturing needs specific machinery. Local institutes are developing quality machines, offering opportunities to become their distributor.
Starting SME business in Thailand as the machinery distributor will be very easy with the government policy support. Therefore, this can be your good choice, which you can study for more details amount machinery required in Thailand at EVENTSEYE.