Survey finds SMEs with bleak outlook for Q4 Thai economy

[webfact]

Survey finds SMEs with bleak outlook for Q4 economy

BANGKOK, 11 November 2014 (NNT) – Most small- and medium-sized businesses are still worried about the condition of the economy during the final months of 2014, according to a survey by Dhurakij Pundit University.

Kiat-anan Luankaew, the university's assistant deputy rector for research, revealed that the survey of small- and medium- enterprises in 12 provinces found that 41.1% deemed the third quarter economic performance as being worse than expected.

This group also believed that the economy would perform similarly in the final quarter of the year. As many as 13.2% of the business operators believed their operation would experience loss.

At the same time, 48.2% of the businesses believed the economy would improve next next; on average, the survey respondents believed GDP would grow by 3.28% in 2015.

The SME operators indicated they would increase their emphasis on E-marketing and also improve on customer service. However, the survey found that most SMEs were ill-equipped to compete within the ASEAN Community, as they are lacking in language skill, business allies, capital sources and import-export risk management.


-- NNT 2014-11-11

[useronthenet]

This was always bound to be the case, that Thailand is lagging behind others in crucial areas, particularily when it comes to language skills.

[trainman34014]

The Chickens are coming home to roost in ever increasing numbers. The only 'business skill' learned by most Thai's is paying off the right connections.

[wdr]

As Thailand the HUB for everything - how can an a "Survey finds SMEs with bleak outlook for Q4 economy"

[pisico]

What a surprise that the outlook is bleak!

Let's see: 6 months of reckless protests blocking roads, blocking access to elections, occupying commercial centers and traffic nods in several parts of Bangkok.Tourists are "mysteriously murdered" or electrocuted or dying from food poisoning, bombs in malls in the South and a military coup d'etat overthrowing a democratically elected administration. The subsequent martial law that bans reading of books and eating sandwiches in public and the added bonus of summons for attitude adjustment, and many more etceteras.

How can that possibly slow down the financial revenue of small and/or medium size businesses?

This is Teflon Thailand. We are the hub of Thainess and charts. The right solution to the situation is: RAISE PRICES... There!!!!

Edited November 11, 2014 by pisico

[shirtless]

This story is optimistic at best , its time for Thainess to take a reality check

[pisico]

This story is optimistic at best , its time for Thainess to take a reality check

Reality check? Unlikely. That goes against the grain of Thainess.

They are staunchly believers in their exceptionalism unless... reality hits their pocketbooks.

Even in such case, they are prompt to blame something or somebody. Unthinkable that Thais will accept their own shortcomings.

I know that many Farangs are still in awe of this country but... Has anyone noticed the similarities with Lilliput?

[marcusd]

"The SME operators indicated they would increase their emphasis on E-marketing and also improve on customer service. However, the survey found that most SMEs were ill-equipped to compete within the ASEAN Community, as they are lacking in language skill, business allies, capital sources and import-export risk management."

Bloody hell!! Strike me down with a feather! I would never have guessed. Every time I go to Central shopping malls I see no one and hundreds of staff must be busy doing E commerce as they are always looking at their phones.

None speak English as good as any Chinese or Korean or Vietnamese so as there are hardly any of these unwanted foreigners in Thailand why the hell do they need LANGUAGE skills? And certainly as there are hardly any FARRANGS coming now only THAI is needed. Pushy bloody survey this one.

BUSINESS ALLIES? Why do they not want to give idiot Thais 51% control of the business and money? No capital needed by Thais then is there? RISK managment? Well that needs no explanation as in Thailand business there is NO RISK.

Enjoy.

[Cake Monster]

Bring back the happiness to these SME,s by just giving out even more cheap loans from the "Government".

Thais have to learn that enterprise is not a given right to large amounts of money for doing very little.

More input is required from these SME companies to make them, and Thailand competetive in a world economic climate that is shrinking, and where margins are tighter.