100,000 SMEs at risk

business April 28, 2014 00:00

By The Nation

As many as 100,000 small and medium-sized enterprises (SMEs) may close their shops if political malaise continues for another six months, said Federation of Thai Industries (FTI) chairman.

Supant Mongkolsuthree noted that the political impasse would take a toll on businesses, particularly SMEs. He urged all to reserve cash for necessary spending. 
Still, he believes that the political situation would get better six months from now, which would restore confidence of tourists, consumers and businesses. He referred to the meeting between the Election Commission and political parties on April 30 to define the election date. 
Given strong economic fundamentals, he is convinced that huge public and private investment would be materialised then. 
To help the SMEs, he said that the FTI would discuss with the government and financial institutions for a soft loan programme. Banks will also be asked to extend debt repayment by 3-6 months.