FTI shows concerns over SME operators going out of business due to political conflict



BANGKOK, 16 May 2014 (NNT) - The Federation of Thai Industries (FTI) has expressed concern that a hundred thousands of SME operators can be gradually forced to close down businesses by the ongoing political turmoil by the end of this year, and that the threat is likely if no government with normalized power is in sight.

Vice President of the FTI, Kriangkrai Thiennukul, predicted that in the upcoming 3rd quarter the majority of industrial factories which rely heavily on the domestic market would have to further reduce their production capacity in line with the declining purchasing power.

He concluded the political situation had triggered a contraction in consumer spending and the situation would leave more than 100,000 SME businesses to shut down, causing mass layoff and unemployment among 150,000 newly graduated students.

Mr. Kriangkrai said the political factors have diminished nearly all of the economic indexes and badly affected the SME sector’s fluidity. Nonetheless, he said the FTI had discussed the matter with the Bank of Thailand for solutions such as extending debt payment periods for SME clients.

The FTI Vice President said his agency had also talked with the Thai Credit Guarantee Corporation on the possibility of enlarging the collateral quota for SME operators. It also encouraged SME operators to jointly hold trading caravans to promote their sales in neighboring countries.


-- NNT 2014-05-16

It seems that tourism is a bigger part of Thailand's GDP than we were led to believe!

Blame everything on the political turmoil. Blame nothing on how hard it is to do biz in Thailand, high import duties, by far the highest wages in the region, farmers being broke, tea money corruption, rice exports at zero, car sales being way down - take no responsibility for anything.

My experience in the industrial estates north of Bangkok is that companies are not going out of business; they are relocating to Cambodia and Vietnam.

What is this notion that everyone should have a job? What is this thought that because you graduated from a university you deserved to be employed and that you're somehow entitled to money because you got the sheep skin? A few of the questions I ask all of my Uni students. Ha ha ha...

I usually tell them, "You're only ever going to get what someone else is willing to pay for your services and that here are perhaps two ways to make money."

1. Doing something that no one else can do.

2. Doing something that no one else is willing to do.

they spewed this rubbish out 3 weeks ago...must be a slow day..market forces..most couldnt run a bath let alone a business...

What is this notion that everyone should have a job? What is this thought that because you graduated from a university you deserved to be employed and that you're somehow entitled to money because you got the sheep skin? A few of the questions I ask all of my Uni students. Ha ha ha...

I usually tell them, "You're only ever going to get what someone else is willing to pay for your services and that here are perhaps two ways to make money."

1. Doing something that no one else can do.

2. Doing something that no one else is willing to do.

What about patronage,I think they are all well aware of that,hence the expression "Do you know who my dad is".

What is this notion that everyone should have a job? What is this thought that because you graduated from a university you deserved to be employed and that you're somehow entitled to money because you got the sheep skin? A few of the questions I ask all of my Uni students. Ha ha ha...

I usually tell them, "You're only ever going to get what someone else is willing to pay for your services and that here are perhaps two ways to make money."

1. Doing something that no one else can do.

2. Doing something that no one else is willing to do.

What about patronage,I think they are all well aware of that,hence the expression "Do you know who my dad is".

Ah... that falls into categories 1 and 2...

Edited May 16, 201412 yr by Local Drunk

What is this notion that everyone should have a job? What is this thought that because you graduated from a university you deserved to be employed and that you're somehow entitled to money because you got the sheep skin? A few of the questions I ask all of my Uni students. Ha ha ha...

I usually tell them, "You're only ever going to get what someone else is willing to pay for your services and that here are perhaps two ways to make money."

1. Doing something that no one else can do.

2. Doing something that no one else is willing to do.

The PTP did promise that every university graduate would get 15000 a month whether they were worth it or not.

Then again they also promised everyone would be rich in six months.....

Thailand is going bust..... Great , more girls for the market... more bahts for my dollars,,, Don't ya just love it... Rock on Suthep..........

Thailand is going bust..... Great , more girls for the market... more bahts for my dollars,,, Don't ya just love it... Rock on Suthep..........

Possibly some merit to your post. However, I would not want to continue to live here if the infrastructure collapses.

Rolling power/water outages, roving bands of thugs, more corruption, a police state, anti-foreigner banking and visa rules, rising inflation, special foreigner taxes, etc. are realities in some countries that have experienced political meltdowns. Some of this sounds like Thailand at present, but it can get much worse.