SME business will grow around 4.4-4.5% this year

BANGKOK, 17 January 2011 (NNT) – The Office of Small and Medium Enterprises Promotion (OSMEP) has estimated that SME business will grow around 4.4-4.5 percent this year, compared to last year’s figure.

The OSMEP has predicted that the growth this year would be lower than that of last year, which was at 7.9 percent, as a result of global economic slowdown.

According to the Office, future remains bright for small and medium businesses in automobile, electronic component, food and beverages, and health fields; especially in the ASEAN market.

The OSMEP further explained that the global oil price hike, currency fluctuation, interest and inflation rates were major factors affecting the industry’s performances. It said SMEs in South Korea and Indonesia were also facing the same problems as their Thai counterparts.