Thailand has become an increasingly popular destination for entrepreneurs looking to start their own businesses. The country's low cost of living, vibrant culture, and relatively cheap labor cost make it an attractive place to start a business. Although resources are easily accessible, starting a business in Thailand can be challenging, especially for those who are new to the country or do not have experience in the local business environment. In this article, we will be comparing starting a business on your own in Thailand and True Digital Park's Startup Booster Program
What is Startup Booster Program?
The Startup Booster Program is a 1-year program designed to help foreign startups grow and scale their businesses through mentorship, networking, and access to resources. The program provides support to help entrepreneurs overcome the challenges they face.
With Startup Booster Program, you will be granted to get SMART visa type ’S’. This visa comes with many benefits such as 1-year reporting to Immigration instead of 90 days, no work permit required, no re-entry permit required, and spouse and children granted permission to stay in Thailand for the same duration as the SMART visa holder – spouse granted permission to work.
For those who would like to apply on their own, many types of visas are available, such as non-B visas. Prices vary between different types. Take note, many visas have a reporting period of 90 days and may need to apply for a work permit. Although most visas would grant permission for spouse and children to hold the same visa type, many limitations are incurred. For example, the spouse is only allowed to stay but unable to work.
1-year co-working space is included in the Startup Booster Program while renting an office space on your own would generally cost around 90,000 THB per year.
Networking events and knowledge
Startup Booster Program offers mentoring and coaching from experienced entrepreneurs and industry experts, which can be invaluable for startups that are just starting out. In addition, the program provides access to a large network of potential partners and customers, which can help startups to grow and scale their businesses.
However, starting a business by yourself could be challenging as these sources put on an additional cost on the business owner.
Mentorship and business advice
Meeting VCs 1- on - 1 for mentorship is included in the Startup Booster Program. Not only that, business advice is given too. This advice is for company registration, accounting, and legal issues.
While advice and mentorship are provided by Startup Booster Program, starting a business without these may be a concern to think about.
In conclusion, both True Digital Park's Startup Booster Program and starting a business on your own in Thailand have their advantages and disadvantages. Ultimately, the choice
depends on the needs and goals of the entrepreneur, and their willingness to navigate the challenges of starting a business in Thailand on their own.
If you are interested in Startup Booster Program, please go to https://www.truedigitalpark.com/en/startup-support/tdpk-startup-booster