Thai entrepreneurs able to access capital despite global woes, survey finds
Despite the global financial turbulence, Thai entrepreneurs have been able to sustain their access to business capital in the past six months. This is according to the latest Global Entrepreneur Indicator, a global survey by the Entrepreneurs' Organisati
The survey of more than 2,200 entrepreneurs worldwide revealed that all respondents from the EO Thailand Chapter indicated that their businesses’ access to capital had either increased or been maintained in the first half of the year. Globally, 90 per cent of entrepreneurs shared the same sentiments.
For the next half of the year, the entrepreneurs remain optimistic of their businesses’ ability to access capital.
About 37 per cent of those surveyed predicted that their access to capital would increase, while the remaining 63 per cent felt that it would remain the same.
The survey also found that a majority (78 per cent) of Thai enterprises were willing to start a new business in the current environment. One-third (34 per cent) of the entrepreneurs indicated that their businesses’ debt load had increased during the past six months, and a comparable percentage (31 per cent) expected it to increase in the next half-year. The figures are higher than the global average of 26 per cent.
The president of EO Thailand Chapter, Jakkrit Sirikantraporn, said the positive results showcased Thai entrepreneurs’ resilience against global economic crises and natural disasters.
“Thai economic growth has managed to continue despite slowing exports, suffering from the impact of global economic slowdown and natural disasters. Domestic demands and investments have helped entrepreneurs maintain their business growth,” he said.
“Their optimism is also reflected in the significant 66 per cent of entrepreneurs who predict an increase in net profit for the upcoming half of the year. For the past six months, 60 per cent saw an increase in their net profits.”
Preyanee Suputhiponge, EO Thailand’s communication chairwoman, added: “With the positive growth outlook, the survey also indicates that half of the enterprises plan to increase their full-time employee headcount in the next six months. Obtaining talent is key to a company’s productivity increase and business expansion, hence entrepreneurs need to adopt a strategic approach to attract and retain the talent.”
