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SMES SMEs’ GDP to increase by 4.3-4.7%

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Thailand’s small and medium-sized enterprises (SMEs) will be growing alongside the economy next year, said the Office of Small and Medium Enterprises Promotion (OSMEP).

While Thailand’s GDP is expected to increase by 4.5 per cent, the GDP of SMEs is expected to grow by 4.3 – 4.7 percent, thanks to internal and external supportive factors.

Household consumption is expected to increase by 8 per cent from reduced income tax as well as the increases in the national minimum wage, it said.

The world economy is beginning to recover and Thailand is benefiting from the recovery as well. The total value of exports is expected to increase by 7.2 per cent, while that of imports by around 6 per cent.

Thailand’s SMEs are put into three main categories.

1) SMEs competitive in the regional and the global market, such as those in the food and drink industry, packaged tour operators, and electronic parts makers.

2) SMEs that can grow along with large companies’ regional expansion, like those in the construction industry

3) SMEs that still need investment incentives for further growth, like those in the renewable energy business and agricultural businesses – especially biofuel.

Picture: http://thaieuro.blogspot.se/2013/12/world-bank-asked-to-map-out-thai-sme.html?m=1

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