There are many great success stories of foreign nationals coming to Pattaya with a reasonable amount of cash and having the foresight to see a good business opportunity, getting started, and doing quite well. This was by way of buying an existing business and carrying out improvements, or by starting a totally new enterprise. Most of these successful business people had previous experience in a similar business in their country of origin, but surprisingly some went into a new type of business and were still successful; - so what was the common denominator that led to these success stories? Mostly it was those who thoroughly researched the local market beforehand by getting advice from professionals with local business knowledge.

Starting A New Enterprise
      High on the list of business failures in the Pattaya region are those who start some new type of business, which then fails for any one of a variety of reasons. Is it the type of business that can succeed, or is it just your own personal dream? Furthermore, it may be ok, but if it is in the wrong location, then you can pretty well forget it, as location is the most important criteria. Look around, - are there any similar business operations in the city; - if not, then ask yourself and your advisors, why not? Maybe they have been tried and failed, or maybe the law does not allow such an operation. On this point, you will find that businesses such as bars and many other entertainment facilities are limited to certain areas, so get local professionals to check the laws first before you get too excited about your new business idea. After you clear this initial hurdle, you will land yourself in a mass of ‘red tape’ involving local government regulations, licenses & legal requirements, and this is where you will find that you cannot do without very experienced local advisors of good professional standing in the community. One of the neatest maneuvers that I have heard about was a resort developer, who looked like he might have have his project blocked, until a local adviser suggested that he register the apartments as “home stay” facilities. Even though there were more than twenty apartments, they were all under the one roof, so it fitted this category of a local ‘by-law.’        

Buying An Existing Business
       Here is a great way to get into business, as you can start making profits from ‘day one,’ because you have no lead time in building up your new investment to a profitable state. However, there are traps for ‘young players’ as the business may not be as profitable as you are led to believe, as figures on paper can be false, so go and sit in on the enterprise for a week or so, to see how much genuine business they are really doing. Another good indicator is the length of time that they have been established, and most importantly the real reason why the owner is selling. Beware that there are no encumbrances or liens hanging over the business; are the rentals or staff costs too high, is the profit margin too small, does the business have long term security? These are but a few of the questions that must be answered. It is only very experienced, long term, local business advisors who can answer such detailed questions, for as a relative newcomer to the Patty business world, you cannot be expected to have access to such information.  

Seeking Finance From Others
      This is a difficult problem that may be best solved by taking on board a partner, provided that it is someone that you personally know very well, as an unknown quantity can be a big “X” in both terms of finance and success. This is where a good independent advisor can be a really big help by way of ‘due diligence’ reports, as you will be amazed at what can be uncovered with some determined investigative work into either individuals or companies. One of my associates was seeking funds of over 500 million baht from overseas, but some aspects of the contract seemed restrictive, while others bound him to a big ‘up-front’ payment. Investigation showed that this financial institution consisted of a number of defunct (‘wound-up’) companies, and the one small related company that did still exist was in debt, plus the business registration number quoted on the contract was false and did not even exist. Further independent investigation showed that the institution concerned was already ‘blacklisted’ on the register of international businesses, so their con trick was a variation  of the old tried & true “Nigeria scam,” which still catches a few unwary people. A week or two of extra checking can save you a fortune, and please listen to the advice of local professional people, who have no financial interest in the business that you are about to start.

Where To  Get  Assistance
         An experienced company such as “Evans Marketing & Legal  Advisors” can be of great assistance, because not only can they give you invaluable advice from their years of experience, but they can put you in contact with their highly experienced and trustworthy in-house lawyers and accountants, who specialize in the requirements of property registration and business requirements. Partners Charles R. Evans, M.D., Atchara P. Evans, G.M. and Sathienraphong Khumnon, Attorney at Law, and their team of multi-lingual consultants are there to assist you in “Making the Right Business and Property Investment Moves in Thailand.” By calling in advance for an appointment, an initial 15-minute Company Health Check consultation is free, so bring your documents in soon, as you have nothing to lose.
      As well as offices in Bangkok and Jomtien-Pattaya, Evans Marketing & Legal Advisors and Sathienraphong-Evans Law & Accounting (a Thai-American partnership) have recently opened a specialised Legal Services, Business and Property Investment office in Rayong City. This newly opened office is headed by one of the Province’s most highly respected law experts, ‘Attorney at Law,’ Mr. Sathienraphong Khumnon, who has practiced law extensively in Chonburi Province, for over 15 years, and was a protégé of Prem Preecha Dibbiwan, who is well known as one of our region’s leading lawyers, and a past President of the Lawyers Association in the Province.

        The “Evans Marketing and Legal Advisors” and Sathienraphong-Evans Law & Accounting teams are well placed to give you the latest news on what is happening on the business, property & legal front, which is in a ‘state of flux’ at the moment, due to the proposed legislative changes, that are being put forward by the government. Call Atchara P. Evans (66 (0) 81-864-7751) or Charles R. Evans (66 (0) 81-864-7731 for an advance appointment to meet with Charles Evans, Attorney Khun Sathienraphong or one of their team of marketing and business advisors, who are always willing to assist you with complete confidentiality, and as their slogan states, - “Professionalism-Integrity-Confidentiality.” They can also be contacted by phone on (038) 301.090(-2) or by visiting their websites; also www.Evans-Marketing.com, www.PattayaInvestments.com and www.PattayaPropertyFinder.com