Ministry to provide Bt5 bn in soft loans
The Commerce Ministry will seek a budget of Bt5 billion to provide soft loans to businesses affected by the flooding.
The move follows the Business Development Department’s assessment that more than 350,000 of the approximately 506,000 firms registered in Thailand were affected by the floods.
Deputy Commerce Minister Siriwat Kachornprasart said the Bt5billion fund will target small and medium-sized enterprises and micro-businesses in particular.
The department will organise a post-flood “mega-businesses fair” to promote new enterprises on December 12 at the Commerce Ministry offices on Sanambinnam Road in Nonthaburi province.
Various types of franchise businesses and e-commerce systems will be introduced at the fair to help entrepreneurs looking to set up new businesses with low initial investment capital and low risk.
Franchise enterprises will offer discounts to those interested in opening such businesses. Participating franchise businesses include Mae Oey, which sells Thai sweets, Mobile Steak, Kratum Ban noodles, Tamarind House and Wincent, an automatic bottled-water machine and postal service.
The department will set up a consulting unit to dispense advice to new enterprises. It will also organise a seminar called “Business management during crisis and plan for operating after flood” to educate flood-affected enterprises in short-term recovery strategies.
In addition, the department has relaxed its rules to give firms more time to submit their financial statements.
New businesses can register on the 14th floor of the department’s head office.
