The Commerce Ministry has launched a subsidy scheme for individuals seeking to purchase franchises.
The ministry has partnered with the Office of Small and Medium Enterprise Promotion (Osmep) and public and private organisations to launch the "Thai Chuay Thai: Franchise Sang Archeep Plus" scheme.
The project provides subsidies to franchise buyers for packages valued at no more than 100,000 baht, covering 50% of the package cost, up to a maximum of 10,000 baht per person.
The available franchises will operate a range of services, including food, beverages, education, beauty and spa services, and laundrettes.
The Department of Business Development has selected roughly 100 brands to participate in the scheme, according to Commerce Minister Suphajee Suthumpun.
The Thai brands include Penguin Milk Tea, Dou Soybean Milk, Popcorn Land, Wararat Meatball, and Izekimo Bingsu.
The ministry also partnered with the Small and Medium Enterprise Development Bank of Thailand, Krungthai Bank (KTB), Government Savings Bank, and the Thai Credit Guarantee Corporation to provide funding with special interest rates and loan guarantees for franchise buyers with insufficient capital, aiming to reduce barriers for individuals who want to start a business.
Osmep has allocated 100 million baht to support the project, which is expected to benefit 10,000 entrepreneurs or 10,000 families, said Napintorn Srisunpang, minister attached to the Prime Minister's Office.
This initiative enables those seeking career or additional income opportunities to start a business without having to build one from scratch, thereby reducing business risks, he said.
Meanwhile, the ministry is cooperating with CP Axtra Plc to offer six months of rent-free space at 10,000 sales locations inside 2,000 branches of Lotus's and Makro stores nationwide, seeking to reduce the financial burden on entrepreneurs during the startup phase.
Furthermore, the ministry has partnered with the Thai Fresh Market Association, which has more than 100 members, to provide rental spaces for franchise entrepreneurs.
Mrs Suphajee said the scheme connects franchise operators with KTB's Tungngern app, allowing franchise operators to participate in the co-payment scheme, increasing their business opportunities.
In separate news, Mrs Suphajee is scheduled to visit Washington, DC from July 15-17 to meet officials from the Office of the US Trade Representative, White House officials, and representatives from the US State Department, with discussions centred on reaching a deal on the Agreement on Reciprocal Trade.
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