The Adaptation for The Survival of Small and Medium Enterprise (SMEs)

Abstract

Small and medium-sized enterprises (SMEs) are a huge business unit in Thailand and are crucial to all aspects of the economy. By creating employment, it is a source of people interested in investing in new entrepreneurs and a source of vocational training for various types of workers. Establishing connections with large enterprises or other enterprises to add value to domestic raw materials and generate income for the country. Especially from manufacturing to exports and tourism, the proportion of GDP to value of small and medium-sized enterprises. The GDP accounted for 34.2% of the GDP, but this proportion declined due to the COVID-19. Therefore, adaptation is crucial for the survival of enterprises, especially in the rapid changes of the epidemic. COVID-19, this survival adaptation requires cooperation from all departments. Entrepreneurs should increase their sales channel strategies for online products and services, study consumer needs, and change product styles. Enhance consumer confidence and reduce costs by reducing unnecessary expenses Accelerate the distribution of vaccines to quickly restore economic activity, while providing cost assistance from governments and financial institutions. As well as large entrepreneurs as partners to maintain the survival of the enterprise.