GRANT THORNTON INTERNATIONAL BUSINESS REPORT (IBR)

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Grant Thornton Thailand is a professional international audit firm with expertise and experience. We provide a high quality, world-class independent audit...

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In today's increasingly competitive and regulated market place, organisations - both public and private - must demonstrate that they have adequate controls and safeguards in place. The availability of qualified internal audit resources is a common challenge for many organisations.
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Headhunter, executive search and recruitment; permanent positions, interim and temp executives; HR assessment tools - We work with you to provide value-added...

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Grant Thornton's executive recruitment is the real executive search and headhunting firms in Thailand.
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Dynamic organisations need a broad range of advisory services to support their ambitions and growth. Our advisory services are designed to help you achieve...

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The environment for business is changing faster now than at any time in recent history. Forces such as globalisation and rapid technological changes are...

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From time to time, companies find themselves looking for temporary accounting resources. Often this is because of staff leaving, pressures at month-end and quarter-end, or specific short-term projects the company is undertaking.
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Japanese Business Practice (日系企業の皆様へ)

Japanese Business Practice (日系企業の皆様へ), 税務・法務, ビジネス・プロセス・ソリューション, 通訳・翻訳, アドバイザリーサービス, 監査・保証業務, エグゼクティブリクルート（ヘッドハンティング）.

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Business Process Outsourcing

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Business Process Outsourcing
Companies, large and small, need to focus on core activities. Still, non-core activities are important, and they need to be leaner and more efficient than most companies can make them sustainably. For Grant Thornton, your non-core activities are our core business. Grant Thornton’s experienced outsourcing team helps companies ensure resilience, improve performance, manage costs, and enhance agility in resourcing and skills. Who better to do this than an organisation with 73,000 accountants? At Grant Thornton we recognise that that outsourcing your F&A functions is a strategic decision and an extension of your brand. This means we take your business as seriously as we take our own.
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We provide practical digital transformation solutions anchored in business issues and opportunities. Our approach is not from technology but from business. We are particularly adept at assessing and implementing fast and iterative digital interventions which can drive high value in low complex environments. Using digital solutions, we help clients create new business value, drive efficiencies in existing processes and prepare for strategic events like mergers. We implement solutions to refresh value and create sustainable change. Our solutions help clients drive better and more insightful decisions through analytics, automate processes and make the most of artificial intelligence and machine learning. Wherever possible we will leverage your existing technologies as our interest is in solving your business problems – not in selling you more software and hardware.
Technical Accounting Solutions
The finance function is an essential part of the organisation and chief financial officer (CFO) being the leader has the responsibility to ensure financial discipline, compliance, and internal controls. As the finance function is critical in every phase of a company’s growth, the CFO role also demands attention in defining business strategy, mitigating risks, and mentoring the leadership. We offer technical accounting services to finance leaders to help them navigate complex financial and regulatory environments, such as financial reporting and accounting standards, managing compliance requirements, and event-based accounting such as dissolutions, mergers and acquisitions.
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Whether you are a local Thai company or a multinational company with a branch or head office in Thailand you are obliged to keep accounts and arrange for a qualified bookkeeper to keep and prepare accounts in accordance with accounting standards. This can be time consuming and even a little dauting making sure you conform with all the regulatory requirements in Thailand and using Thai language. We offer you complete peace of mind by looking after all your statutory accounting requirements. You will have a single point of contact to work with in our team who will be responsible for your accounts – no matter small or large. We also have one of the largest teams of Xero Certified Advisors in Thailand ensuring your accounts are maintained in a cloud-based system that you have access to too.
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We offer Staff Augmentation services where our staff, under the direction and supervision of the company’s officers, perform accounting and accounting-related work.
Payroll Services
More and more companies are beginning to realize the benefits of outsourcing their noncore activities, and the first to be outsourced is usually the payroll function. Payroll is easy to carve out from the rest of the business since it is usually independent of the other activities or functions within the Accounting Department. At Grant Thornton employees can gain access to their salary information and statutory filings through a specialised App on their phone. This cuts down dramatically on requests to HR for information by the employees and increases employee satisfaction. We also have an optional leave approval app too if required.

Business Risk Services

In the dynamic world with unprecedented events, it is imperative that organizations balance their risks, controls while capturing the opportunities in order to...

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Industries

Consumer products

Emerging markets and shifting consumer demand are creating new opportunities in this industry, with business leaders investing in new products, markets and...

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Energy & resources

Energy markets worldwide are undergoing major changes. Grant Thornton can help you understand and navigate the challenges, and make sure you have the solutions...

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Financial services

Financial services firms operate under complex and heavy regulation. Grant Thornton’s global network of member firms assists clients with asset management,...

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Healthcare

Healthcare is a rapidly changing sector. Providers and commissioners of healthcare face the challenges of rising public expectations, an ageing population,...

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Not for profit

Across the globe, not for profit organisations are increasingly expected to deliver more, while at the same time facing cuts in government funding and...

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Government and public sector

We work with all types of agencies, including central and state government, local government, donors (including bilateral and multilateral international...

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Real estate & construction

While the impact of the prolonged downturn continues to be felt, pockets of opportunity and optimism have emerged within the retail estate and construction...

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Technology, media & telecommunications

Rapid change and complexity are norms, and innovation the fuel in the technology industry. Today’s revolutions – including cloud, as-a-service, social media...

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Travel, tourism & leisure

The travel, tourism and leisure industry is undergoing dramatic change: consumers are now calling the shots. Grant Thornton’s global network of industry...

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GRANT THORNTON INTERNATIONAL BUSINESS REPORT (IBR) – Q1 2025

By:

Rattanakorn (KJ) Sutthiphongkait

25 Apr 20251 min read

Thailand’s mid-market businesses have entered 2025 with a surprising degree of confidence, maintaining solid investment intentions despite increasing global uncertainty. However, newly imposed U.S. tariffs, domestic structural risks, and intensifying regional competition threaten to challenge this optimism.

Thailand’s Mid-Market Confidence Holds — But Global Headwinds Loom Large

Bangkok, Thailand, April 2025 - The latest Grant Thornton International Business Report (IBR) for Q1 2025 reveals that although Thai mid-market business leaders remain broadly confident, they are cautious about certain growth areas when compared to ASEAN, Asia-Pacific, and global counterparts.

For context, Thailand’s real GDP expanded by 3.2% in Q4 2024, driven by a 10.6% increase in exports and strong capital inflows. Inflation stayed low at 1.0%, prompting the Bank of Thailand to adopt an easing stance by lowering its policy rate to 2.0% as of February 2025.

Against this backdrop, Thai mid-market sentiment remained remarkably optimistic, with 31% of respondents reporting they were "very confident" about economic improvement in 2025.

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GRANT THORNTON INTERNATIONAL BUSINESS REPORT (IBR) – Q1 2025

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