Thailand: measures taken by SMEs during COVID-19 2021

In 2021, a survey conducted among small and medium enterprises (SMEs) in Thailand found that 40.7 percent of firms had to find additional channels for income to adapt to the effects of the COVID-19 pandemic. The majority of small and medium businesses which implemented this strategy found ways to earn extra income and adapted to online channels.

Measures taken by small and medium enterprises (SMEs) to improve business operations during the COVID-19 pandemic in Thailand in 2021

Characteristic	Share of enterprises
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Release date

March 2021

More information

Region

Thailand

Survey time period

February 1 to 15, 2021

Number of respondents

660 respondents

Special properties

survey conducted among SMEs

Supplementary notes

For the types of business strategies, finding additional channels for income includes implementing ways to earn extra income, liquidating assets and selling online. Reducing costs includes pausing debt payments, laying off employees, closing stores earlier, and reducing employee salary. Finding a new business model includes collaborating with bigger brands, completely switching to a different business, and merging with other businesses.

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