In the past I have seen many businesses fail miserably even before their first full trading year is complete, and this has happened for a variety of reasons. An acquaintance of mine has just gone down this road of no return, where everything on the premises was confiscated; - not only the furniture, equipment and stock, but even including some of the fixtures were forcibly removed. For years he had an identical and very successful entertainment business overseas, so what went wrong, as he has been a long term visitor to Pattaya for many years. There are many factors to consider, such as cash flow, staff reliability, profitability, time spent away from the business and even personal problems with alcohol or a spouse can affect an owner’s business.

 Lack  Of  Local Knowledge
       The biggest single cause of business failure by foreign owners is thinking that they know it all, which may be true in their country of origin, but here it is a completely different ‘ball game’ with totally new rules, so throw your old ‘rule book’ away. While foreign business owners in Pattaya can give the newcomer some very valuable advice, which should always be heeded, it is trustworthy Thai professionals who would have the most knowledge of what is happening around town. More importantly they understand local regulations and by-laws much better, not to mention the fact that they would know about some pretty nifty legal short-cuts, which would take you years of research to find.

      It is sad but true that many enterprises that were 100% ‘rock solid’ and very secure when they were purchased, have literally ‘gone down the drain’ because the new owners thought that they could trade by the same methods and legal practices as they have done elsewhere in the world. Here in “Amazing Thailand” things are much different, and until a foreign expat has lived here for a few years, they cannot hope to grasp the complexities of the local situation, plus competition here is much fiercer, and you are competing against people who understand the local situation better than you. However, do not be deterred, because your strengths lie in your wider knowledge of what foreign clients require, and the use of superior technology.

 Cash  Flow  &  Staff  Problems
      The lack of ready cash will always cause immense problems in any business, because if you are slow paying suppliers and staff, then you cannot expect much co-operation from them. This can then be compounded by the fact that your staff may decide to steal some of your profits, in retribution for something that they feel you owe them. Likewise, too much time away from your business can also result in a similar scenario, with the end result being that you suddenly find your business making little or no profit. Remember the old saying, “If you have all your eggs in one basket, then look after the basket,” and in Pattaya many business owners do not heed this warning, by quite often getting too involved with the local ladies or over indulgence in alcohol.
    
     Likewise, an owner spending too much time spent away from a business is a 'recipe for disaster' as there is no substitute for having someone watching over all aspects of trading on a very regular basis. If you must be away from your business, then employ a knowledgeable family member or friend to watch over the operations on a daily basis, and further to this, you are well advised to engage a competent accountant to keep a very close watch on the financial side of things. During your first year of trading, I cannot stress enough, the absolute necessity to take this action, even if it costs you a sizeable chunk of your profit, otherwise you are very likely to go down the same road as that of many other business operations. This is because you are in a totally unfamiliar business scene, which could cost you everything if you start making too many mistakes; - 'get smart' and engage competent and highly ethical local professionals, because you will sleep a lot more soundly if you do.                                   

Where To  Get  Help                          
         To move around all of these financiers and find the best deal could take an awfully long time, not to mention the cost, and furthermore the ‘house of your dreams’ will probably be sold while you are trying to get this information together. This is where 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 or financial 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 (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 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.