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Business Start-Ups in Thailand are On the Rise – How You Can Get in on the Action

Business

Business Start-Ups in Thailand are On the Rise – How You Can Get in on the Action

While the country of Thailand may not instantly come to mind when thinking about places that are on the rise and popular with entrepreneurs and start-ups, it may be time to give it another look. Over the past few years, Thailand has managed to attract a lot more than just tourists, as investors and entrepreneurs around the world are just starting to see what an incredible business opportunity the country can offer.

Bangkok is quickly becoming one of the more innovative spots in all of Asia, making for the ideal scene for tech start-ups among other types of businesses. A report released just last year called the ‘World Bank Group’s Ease of Doing Business’ saw a massive jump for Thailand with it rising from number 48 on the list in 2017 to 26th in 2018. This is a trend that investors predict will continue.

So how as an entrepreneur can you get in on the action and start taking advantage of this trend that is taking place? Here are some Thailand specific tips that can help you break into the market.

The Emphasis is Truly on the Tech Sector

There are obviously all kinds of industries in Thailand that you can open a business in, but if you’re looking forward to taking advantage of the trends, then the tech sector is where it is at. This is where investors are seeing the most success and return on their investment; it’s also where some of the most impressive growth is taking place in the country. Statistics show that more than 50% of the country’s population is 30 years and younger, which is really helping to drive the technology trend.

Because of this trend, and the push for the tech sector to continue to grow, many universities are offering start-up courses in their curriculums, which means you’ll also have the employees to take these businesses all the way through to success.

Understand Your Target Market

This particular tip isn’t unique to Thailand, rather it’s important anytime you start up a business. Your target market needs to be clear from the start. Who is your customer, what is it that they want, why would they choose you over the competition, and how do you plan to keep customers loyal? Thailand has its own customer culture, which means you need to understand that and cater to them.

Embrace the Digital Marketing Trend

Another trend that is emerging in Thailand is the push for digital marketing tools and techniques across all sectors. It’s just another example of how the country is really embracing technology as a whole, and understanding that allows them to compete not just on a local level, but a global level if they choose. You can find professional marketing companies such as Primal which is a marketing agency online dedicated to using data-driven digital marketing tools.

Thailand Enjoys a Period of Significant Growth

So, while Thailand continues to enjoy this period of significant growth where start-ups and entrepreneurs are concerned, many would argue this is just the tip of the iceberg – the very beginning of what the country is capable of achieving.

I am the founder of Startup Today. I am the main writer and have put in many hours of work into creating this blog. If you want to find out more about me then lets get in contact.

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