Entrepreneurs around the world can be divided into two types: opportunity-based and necessity-based.
Opportunity-based entrepreneurs are entrepreneurs with high levels of human capital and entrepreneurial
competencies. Necessity-based entrepreneurs, on the other hand, are entrepreneurs with low levels of human
capital and entrepreneurial competencies. They generally lack other viable options for earning a living. As in
other developing countries, a majority of SME entrepreneurs in Thailand have been identified as necessity-based
entrepreneurs.