The Economic and Business Forecasting Center at the University of the Thai Chamber of Commerce in collaboration with the Small and Medium Enterprise Development Bank of Thailand (SME D Bank) announced the business situation index for SMEs and the competitiveness index for SMEs for the fourth quarter of 2019, based on a sample of 1,233 businesses nationwide. The survey covered three indices: 1. SMEs Situation Index, 2. SMEs Competency Index, and 3. SMEs Sustainability Index, which together provide insights into the SMEs Competitiveness Index.

       Mr. Thanawat Polwichai, President and Advisor of the Economic and Business Forecasting Center at the University of the Thai Chamber of Commerce stated that the SMEs Situation Index for Q4/2019 was at 40.8, a decrease of 0.7 points compared to the previous quarter (Q3/2019). For Q1/2020, it is expected to rise to 41.2. When categorized by customer type, the index for non-customers of SME D Bank dropped from 35.0 to 34.2, while the index for SME D Bank customers decreased from 47.0 to 46.5.

          The SMEs Competency Index for Q4/2019 was at 47.2, down 0.6 points from the previous quarter, with expectations for Q1/2020 to rise to 47.9. For non-customers of SME D Bank, the index dropped from 39.6 to 38.7, while for customers, it decreased from 56.2 to 55.9.

          The SMEs Sustainability Index for Q4/2019 was at 50.4, a decrease of 0.7 points compared to the previous quarter, with expectations for Q1/2020 to rise to 50.8. For non-customers of SME D Bank, the index fell from 43.8 to 42.7, while for customers, it decreased from 58.5 to 58.2.

  

          From these three indices, the SMEs Competitiveness Index for Q4/2019 was found to be at 46.1, a decrease of 0.8 points compared to the previous quarter, with expectations for Q1/2020 to rise to 46.6. For non-customers of SME D Bank, the competitiveness index fell from 39.5 to 38.5, while for customers, it decreased from 54.1 to 53.5.

        Regarding the survey on the need for assistance, support, or business development from the government, respondents indicated a desire for support in four areas: economic development, business promotion, loans, and taxation.

         

"The key takeaway from this survey reflects that Thai SMEs still believe that the economic and business situation for SMEs in the next three months, or Q1/2020, is likely to improve, thanks to the government’s economic stimulus measures and support for SMEs that have already been implemented and are continuously being rolled out, such as measures to enhance SME capital and investment. Additionally, government investment will play a crucial role in circulating money within the economy, helping to improve the business situation for SMEs."

 

          Mr. Samanpong Klianglayong, Deputy Managing Director of the Small and Medium Enterprise Development Bank of Thailand (SME D Bank) stated that the survey results clearly show that SME customers of SME D Bank have higher average indices across all areas compared to non-customers. This is due to SME D Bank's main policy of combining knowledge with capital. In addition to providing low-interest loans, they also focus on business development, enabling entrepreneurs to adapt and survive in the current economic situation. For example, they offer training on online marketing, business cost management, and single-entry accounting. They also help expand new markets to increase sales, such as participating in the "SME D Multiply 3" market event organized by the bank every month at no cost. This January, it will be held on January 23-24, 2020, at the multipurpose area on the first floor of the SME D Bank headquarters. They also facilitate entry into e-commerce markets through popular online shopping platforms like Thailandpostmart.com, Shopee, and Lazada.