BANGKOK – The University of the Thai Chamber of Commerce (UTCC) has said that the SME competitiveness index in the last quarter of 2015 increased from the previous quarter to 49.4, due to government support.
Director of the UTCC Economic and Business Forecasting Centre Thanawat Polvichai said the index will likely increase by 0.6 points during the first quarter of 2016, after the government made assisting small and medium enterprises (SMEs) part of this year’s national agenda.
However, Mr. Thanawat also said the SME competitiveness index is susceptible to U.S. monetary policy, which ultimately affects stock market volatility, global economic recovery, and household debt.
In the last quarter of 2015, SMEs were able to increase their sales volumes due to lower fuel prices. The business sustainability index among SMEs also rose from 50.5 to 50.7, as they eased into the digital economy by investing in online marketing and human resources.
