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SMEs expect 3.8% growth in 2019

Dec 27. 2018
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By The Nation

SMEs expect the Thai economy to expand by 3.79 per cent with political and internal economic factors the key challenges to their business performance, according to a Thammasat University study.

About 84.2 per cent said they were not ready to undertake a digital transformation.

The ​Faculty of Economics at Thammasat University conducted a survey of 643 SMEs nationwide on issues related to their business performance and overall economic conditions this month. 

The overall growth rate of the Thai economy in 2019 was expected to be around 3.79 per cent.

​When asked about their performance in 2018 compared to what they expected at the beginning of the year, 52 per cent said their investment was lower than expected, 38 per cent on liquidity and 37 per cent on revenue. 

On the aspects that performed better than expectations were liquidity with about 21 per cent, profit with about 20 per cent and revenue and employment at about 19 per cent.

​The respondents were asked about their performance in 2019 compared to 2018. The three areas that were expected to perform less well were investment at about 56 per cent, liquidity at about 37 per cent and revenue at about 33 per cent. 

The areas that were expected to perform better were revenue with about 25 per cent, profit at about 20 per cent and liquidity at about 19 per cent. 

The three most important factors that would affect their business were the post-election political environment, the domestic economy and the world economy.

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