The Guidelines for Decreasing the Impact on Small and Medium Enterprise from the Epidemic Crisis in Thailand

Abstract

Due to the ongoing spreading of a new virus or COVID-19 in every region and its impact on social and economic systems worldwide, Small and Medium Enterprises (SME) in Thailand are also affected. This research aims to study the guidelines for decreasing the impact on SME from the epidemic crisis in Thailand. The study was carried out by dividing into 2 business groups; the small and the medium businesses, studying from 400 SME entrepreneurs in Thailand whose turnover are progressively profitable since 2018, 2019, and 2020, and collecting data by sending questionnaires and receiving them via post and using electronic media via internet network channels. The research was started in January 2021 and required 10 months.  Descriptive statistics and inferential statistics were used by determining statistical significance at 0.05. Research results showed that the 3 top guidelines for decreasing the impact used by the entrepreneurs and continue making profits for the businesses even the spreading of COVID-19 exists are 1. Leadership; a role model for wearing masks, social distancing, hand washing, regular communication to have every sector quickly and comprehensively understand the crisis, suitable work priority, 2. Marketing; communication with sympathy and adjustment of sale conditions in accordance with customer’s demand, providing advice and assistance for customers, using digital technology instead of face-to-face meeting with customers, and 3. Management; transparency and integrity-based administration, strict screening of outsiders, focusing on teamwork more than the individual. Difference comparison of the guidelines for decreasing the impact on SME from the epidemic crisis in Thailand classified by business groups found that leadership factor has no difference at 0.05 of statistical significance while marketing and management factors have differences at 0.05 of statistical significance. Small enterprises pay attention more to marketing and management than the medium ones. What entrepreneurs request from the government’s support is tax reduction or privileges, easy-to-access capital with low interest, moratorium, distribution of vaccines and necessary preventive equipment, the government’s direct communication with obviousness and scope of time, and promotion of the domestic product.