Siam Commercial Bank is taking steps to enhance the competitiveness of SME entrepreneurs as they prepare to continue penetrating the market in the second half of the year. The bank organized the “SME OF THE FUTURE: How Should Thai SMEs Move Forward?” seminar, which delves into the overall picture of the Thai and global economies, examining risks and challenges from various perspectives, as well as updating trends in technology and innovation for businesses. The seminar specifically targets import-export businesses and the food and beverage (F&B) sector to pave the way for strategic adjustments suitable for the upcoming business landscape, aiming to help Thai SMEs achieve the next level of success and sustainable sales growth.

Experts in business and economics gathered to share knowledge and exchange experiences, led by:

  • Ms. Pikul Srimahan, Senior Executive Vice President, CEO of the SME Business Group; Dr. Sompravin Manprasert, Senior Executive Vice President, CEO of the Economic Intelligence Center (EIC), and Senior Executive Vice President, CEO of the Corporate Strategy Group;
  • Dr. Punyawat Srisinh, Senior Economist at EIC;
  • Ms. Chotika Chummee, Manager of the Agricultural Products and Manufacturing Cluster at EIC;
  • Mr. Patrick Pulia, Assistant Senior Manager, Financial Markets Executive at Siam Commercial Bank;
  • Mr. Theerawit Thamaphornphilas, Head of Strategy and Commercial at Digital Ventures Co., Ltd.;
  • Ms. Silinlaks Tulayanant, Chief Executive Officer of Food Equipment Co., Ltd.;
  • Ms. Nattanan Phatsasakchai, Manager of the Foreign Business Department at Tropicana Oil Co., Ltd.;
  • Mr. Mitdanai Satawornmane, Co-founder of the Plantae and CORO FIELD brands, who also served as a speaker recently at Siam Commercial Bank's headquarters.

Ms. Pikul Srimahan, Senior Executive Vice President and CEO of the SME Business Group at Siam Commercial Bank, stated that we are beginning to see signs of a continuous recovery in the Thai economy, leading to a resurgence in economic activities. Although it may take time to fully restore to previous levels, it is the bank's role to accelerate support for customers to resume normal business operations as quickly as possible. The SME business group has collaborated with the Economic Intelligence Center (EIC) to organize the seminar “SME OF THE FUTURE: How Should Thai SMEs Move Forward?”

The main goal is to support SMEs in enhancing their capabilities to adapt their strategies and business models to keep pace with changing technologies and consumer behaviors, thereby increasing their competitiveness in line with the current and future economic context. This is particularly focused on import-export businesses that are recovering alongside the economies of trading partners, as well as the food and beverage sector that must adapt to consumer demands, especially the growing trend of health foods. Esteemed speakers, including analysts from EIC, financial market executives, successful business operators, and technology experts, provided insights on four seminar topics:

1) Analyzing the future of the Thai and global economies for SMEs
2) Key considerations for import-export businesses and risk management
3) Strategy adjustments for the food and beverage sector
4) Utilizing technology as a new powerhouse to elevate businesses and reduce costs, covering essential dimensions necessary for business operations to face the future.

Dr. Sompravin Manprasert, Senior Executive Vice President and CEO of the Economic Intelligence Center (EIC) and Senior Executive Vice President, Corporate Strategy Group at Siam Commercial Bank, remarked, “The overall global economic situation is showing signs of slowing down due to various factors, including the increased risk of recession in the U.S. economy from inflation and tight monetary policy, as well as energy supply risks in Europe. In ASEAN, the economy has shown stronger growth in Q2, driven by positive factors from reopening and continuous export growth. For Thailand, the economy is expected to continue recovering after reopening.”

While inflation may impact household purchasing power, the Thai economy grew by 2.5% in Q2, driven by a surge in domestic consumption and the recovery of the service sector. In the future, tourism and services will become increasingly important engines driving the Thai economy. However, the export and investment sectors may slow down in line with the global economy. The EIC believes that SMEs should quickly adapt to the pressures affecting the economic recovery by focusing on efficient cost reduction and investing in appropriate technologies, emphasizing improvements in energy efficiency and raw material management, including sourcing suitable suppliers, finding alternative raw materials, and enhancing business flexibility to adapt quickly in crises. They should also start utilizing data analytics to understand customer needs, offer products that meet those needs, and invest in suitable technologies to enhance production efficiency and management for long-term improvements.


   

Ms. Silinlaks Tulayanant, Chief Executive Officer of Food Equipment Co., Ltd., believes that improving the ordering system by analyzing stock data obtained from the newly installed ERP program, adjusting purchases to lock in exchange rates in advance, and consulting with experts from SCB's RM and trading teams, as well as using online platforms for international money transfers, can significantly enhance cost management efficiency. This can also help stabilize prices, allowing the organization to avoid adjusting product prices for customers.

Additionally, during the COVID period, the company focused on helping all employees survive and grow with the company, which led to an influx of skilled labor through referrals.


Ms. Silinlaks Tulayanant, Chief Executive Officer of Food Equipment Co., Ltd.

Stay updated on beneficial seminar activities for businesses from Siam Commercial Bank and its partners in both the public and private sectors, as well as information about products and services for SMEs through the website: www.scb.co.th/th/sme-banking
and Facebook: www.facebook.com/groups/scbsme
or contact the SCB SME Business Call Center at 02-722-2222 for business inquiries.