Navigating Entrepreneurship in Thailand: Lessons and Insights with Manuel Ferreras Moreno

In this episode of Made it in Thailand, I had the pleasure of speaking with Manuel Ferreras Moreno, a versatile entrepreneur and high school physics teacher who co-founded Ravenwing in Bangkok. Manuel shares invaluable insights into navigating the challenges of entrepreneurship in Thailand, especially for foreigners-from tackling language barriers to understanding local regulations. He highlights his philosophy of sustainable growth and fair treatment of employees, touching on the importance of trust and ethical business practices. Tune in to discover how Raven Wing is helping businesses flourish in a unique and complex market.

• ravenwing.co
• instagram.com/ravenwing
• facebook.com/ravenwingth
• linkedin.com/ravenwingth

Building entrepreneurship in Thailand requires navigating cultural shocks, regulatory hurdles, and partnership dynamics in a market full of opportunities and pitfalls. Here are five key insights from our conversation with Manuel Ferreras Moreno, each tackling common challenges for aspiring business owners here.

• Choose Compatible Partners Wisely: Manuel shares how starting ventures with friends can reveal incompatibilities, as seen in his cannabis business where differing work styles led to dissolution. Many overlook this, assuming friendships translate to business synergy, but mismatched approaches can derail progress. In my consulting work since 2012, I’ve seen partnerships fail due to untested dynamics; prioritize clear communication and shared values from the start to build resilient teams in Thailand’s relational business culture.
• Overcome Language and Regulatory Barriers: Foreigners often struggle with Thailand’s language, alphabet, and rules like the 51/49 ownership split requiring a Thai majority partner. Manuel faced this in setting up his companies, emphasizing the need for reliable guidance to avoid trust issues with local partners. From advising firms here, I know ignoring these leads to costly delays; seek expert help early to navigate bureaucracy and ensure compliance in this complex environment.
• Learn from Failures for Better Pivots: Manuel’s cannabis ventures in Spain and Thailand failed due to funding, regulations, and partnerships, but they inspired Ravenwing, a consulting firm aiding business setups. Entrepreneurs frequently quit after setbacks, missing growth opportunities. In my experience, analyzing failures refines strategies; use them to pivot wisely, especially in Thailand’s evolving sectors like cannabis or consulting.
• Adapt to Cultural and Economic Realities: Moving to Thailand during COVID brought Manuel cultural shocks, from Buddhist norms to economic disparities, requiring patience and local insights. Newcomers often underestimate these, leading to isolation or missteps. I’ve worked with businesses that thrive by immersing in local customs; build networks and adapt plans to Thailand’s diverse markets for sustainable integration.
• Prioritize Ethical Growth and Employee Well-Being: Manuel aims for slow, fair expansion at Ravenwing, focusing on happy workers through cooperative models rather than low-wage volume hiring. Many chase rapid scaling, exploiting disparities, which breeds turnover. From my years in Thailand, ethical practices foster loyalty; treat employees as partners to enhance productivity and client satisfaction in this competitive landscape.

Manuel’s journey is a reminder that passion and good intentions aren’t enough if you don’t have the right foundation. His cannabis ventures failed not because the ideas were bad, but because partnerships weren’t aligned, funding wasn’t there, and he underestimated the regulatory complexity. I’ve seen this pattern dozens of times in Thailand. People get excited about an opportunity, jump in with a friend or acquaintance, and only discover fundamental incompatibilities when money and stress enter the picture. The lesson here is brutally simple: vet your partners like you’d vet an investment. Test how you work together before committing, and make sure your goals, work ethic, and values actually match. The language and regulatory barriers are real, and they catch almost everyone off guard. Thailand’s 51/49 ownership structure forces you to trust a Thai partner with majority control, which is terrifying if you don’t have the right person. I’ve advised companies that got burned because they rushed this decision or went with the first person who seemed convenient. Manuel’s right that you need expert guidance early. Don’t try to DIY this stuff or rely on advice from random expats in Facebook groups. Pay for proper legal and accounting support from day one. What I respect most about Manuel is how he turned his failures into Ravenwing. Instead of walking away bitter, he used what he learned to help other people avoid the same mistakes. That’s the entrepreneur mindset Thailand rewards: resilience and adaptability. And his approach to growth at Ravenwing is refreshing. He’s not trying to build a sweatshop or exploit the wage gap between expats and locals. He wants to create a cooperative where employees share in the success. That’s rare here, and it’s exactly the kind of ethical business model that builds long-term loyalty and quality. Too many businesses in Thailand treat workers as disposable, and it shows in their turnover and culture. Manuel’s betting that doing right by people will differentiate him, and I think he’s absolutely correct.