Findings of main obstacles facing Thai SMEs towards business growth sustainability
Findings of main obstacles facing Thai SMEs towards business growth sustainability
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2020
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eng
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18 pages
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ABAC ODI Journal : Vision. Action. Outcome. 7, 2 (July-December 2020), 111-128
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Abstract
This paper aims to provide insight information into main competencies thirty-four local
Small and Medium-sized Enterprises (SMEs) are lacking in order to achieve their business
performance and sustained healthy economic growth. The data was obtained from
Researchers' five day-planned productivity improvement to individual firms during the year
2017 to 2019 in Nakornpathom, Ratchaburi, Rayong, Samutprakan, and Samutsakorn
provinces, and Bangkok. The information reveals that eighteen (18) or 52.94% of both
small and medium enterprises have low entrepreneurial skills (the inability to identify and
define a viable market niche, recognizing, envisaging, and formulating strategies for taking
advantage of opportunities). This study also summarizes the lack of main management
skills or competencies of the SMEs based on the study of Mitchelmore & Rowley (2009).
The impact of these skills led to Thai SMEs' inability to: smoothly and continuously
produce and deliver quality products to customers, keep costs down and compete, and
attract and retain talent. Further studies should delve into specific entrepreneurial skills of
SMEs owner/managers, which significantly impact firm performance and sustained
growth. Consequently, current Thailand's SME promotion policies could be reviewed in
order to differentiate existing promotional programs based on the quality of SMEs for their
sustained development and effective utilization of SME's budgets.
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