Survey finds most entrepreneurs still hard hit by economic slump

BANGKOK, 16 March 2016 (NNT) – A survey finds that most entrepreneurs in the country view that the Thai economy has not yet recovered. They also report that their performance in the first quarter 2016 did not improved compared to the same period last year.

Conducted by the Faculty of Economics of the Dhurakij Pundit University, the survey found that most of the respondents or 41.6% thought that their situation worsened, 36.4% thought it barely changed and 11% thought it was better.

As for the business outlook for the next six months, they said risk factors for their business included the Thai and global economies which had not yet recovered and higher competition caused by drought. These factors made them spend more carefully, reduce costs, delay investment and cancel marketing campaigns.

The faculty’s rector Kiatanant Luankaeo said the government’s financial assistance for SMEs did not cover all of them and urged the government to provide more aid.

-- NNT 2016-03-16

NNT puts a spin on it in paragraph one, suggesting there was no year-to-year improvement. Survey says: conditions are worse.

Thais we do business with in Thailand are struggling. The ones outside of Thailand are better off.

I frequently talk to many businessmen and all have said that this year will be worst than last year judging from the performance of their 1Q results. Most don't feel that there will be a turnaround for this year and next year will be worst. While the world economy take some blame, most blame the slow disbursement of government funds, bank reluctance to lend and a sluggish domestic economy.

I frequently talk to many businessmen and all have said that this year will be worst than last year judging from the performance of their 1Q results. Most don't feel that there will be a turnaround for this year and next year will be worst. While the world economy take some blame, most blame the slow disbursement of government funds, bank reluctance to lend and a sluggish domestic economy.

I hear Thai people saying things will improve when a new long term government is elected. I dont follow Thai politics myself but I hope this happens soon if it is right. I hear a lot of farmers are struggling and the middle men are making all the profits.

I frequently talk to many businessmen and all have said that this year will be worst than last year judging from the performance of their 1Q results. Most don't feel that there will be a turnaround for this year and next year will be worst. While the world economy take some blame, most blame the slow disbursement of government funds, bank reluctance to lend and a sluggish domestic economy.

I hear Thai people saying things will improve when a new long term government is elected. I dont follow Thai politics myself but I hope this happens soon if it is right. I hear a lot of farmers are struggling and the middle men are making all the profits.

There are lots of reasons why a coup junta government will never do well and this is supported by empirical studies. The obvious reasons are the non-talents in the government to manage the economy when you have military men at top leadership position. Our main trading partners are USA and Japan who have made harsh comment of the coup and will be difficult to negotiate for increase in trade. The fishing and air woes are indirect pressures from the democratic countries. We now have to turn to China, Russia and Iran for more trade and the countries are not in the best economic shape. Lastly, an elected government is answerable to the people for their performance. The motivation is greater than appointed ministers who dont have to the back to the people at the next election.

I am pleasantly surprised to learn that Thailand has a burgeoning community of entrepreneurs. Here I was thinking it was a land of monopolies and cartels