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Cost Saving Strategies for Small Businesses in Thailand

March 20, 2015 | Sharon Cheong

Many entrepreneurs have learned the secret to running a successful business in Thailand. There are numerous cost-saving strategies that can increase your profit margins and the smart entrepreneur understands how to avoid the main pitfalls that lead to lower profits. Your business expenses should be trimmed to do away with wasteful spending. 

Business Goals 

Thailand is often voted best city for business by various financial organizations and it truly is a world-class city where you can establish a profitable business. Try going into your business spending a minimal amount so that you'll have adequate cash flow for the long-term. A good, well thought-out business plan features both long-term and short-term goals with contingency plans in case things don't follow along in an ideal manner. With the global economy still in recovery, business owners are eager to learn about how to save money and still produce decent products and services. This is the key to success. 

Unexpected Costs 

When it comes to getting started in a new business, remember the unexpected fees such as installing a phone system, permits and licenses, getting electricity, construction permits, furnishings and equipment. Employees are a big expense, but dependable labor can usually be found in Thailand at reasonable prices. If you are planning a new start-up, but have limited resources, then consider the convenience of serviced offices. This can help you get a luxurious office space with all the essentials such as a receptionist, IT staff, fully furnished meeting rooms, high-speed internet and good reliable phone service. 

Money-Saving Opportunities 

Thailand is a major hub for import/export in Asia. Often this business type requires space at a seaport or commercial warehouse space, but doesn't really necessitate a full suite of offices. You can get the professional services you need in order to obtain those high class clients by leasing a virtual office. This can save thousands of dollars in expenses like furniture, utility deposits, and qualified employees. Though some businesses utilize this concept at the start of their business in order to save start up costs, others continue to use virtual offices for the long term. 

Create an Upscale Presence 

Servcorp Serviced Offices provide deluxe office space conveniently located in the Central Business District. Office suites are attractively furnished with elegant décor and experienced personnel, including receptionists, IT and HR personnel. Any new start-up can benefit by utilizing these attractive, yet affordable virtual offices. A professional corporate image can be yours for a fraction of the cost with a virtual office. 

Contact Servcorp Today 

Servcorp Services Offices specialize in making it easy and affordable for entrepreneurs to set up a business, even offering advanced IT and communication technologies that can give you the clear advantage over the competition.  Meeting rooms and boardrooms are fully furnished with upmarket, comfortable furnishings.  You can enjoy all the benefits of working out of a stunning office space for far less than regular costs. Why not take advantage of these money saving ideas for your business today? Please contact us to learn more.