Since the economic crisis in 1997, the formerly overlooked Small and Medium Enterprises (SMEs) have been turned to as one of the main engines for sustainable economic growth. Realizing their importance and potentials, the government has initiated a package of policies, aiming to foster SMEs development by reducing various problems facing SMEs in marketing, human resources and management, technology, infrastructure and regulations, and financing.
As a result of the economic crisis in 1997, most of large companies in Thailand were overwhelmed with huge foreign debts and as well as high NPLs. With quagmire of problems in large corporations, the Thai government has turned to SMEs as an alternative engine for economic recovery and sustainable growth.