The Small and Medium Enterprise Promotion Committee yesterday approved a 1.23-billion-baht budget for fiscal 2019, up 15 million baht from the previous fiscal year.
According to Industry Minister Uttama Savanayana, the committee's meeting chaired by Prime Minister Prayut Chan-o-cha approved the funding plan, focused on promoting digital development and strengthening the export capability of small and medium-sized enterprises (SMEs) and upgrading micro SMEs.
During the past four years, more than 9,000 SMEs were developed with export capability, Mr Uttama said, generating a combined 8.8 trillion baht in revenue.
The committee yesterday also approved a 260-million-baht budget to help SMEs offset foreign exchange risk.
The committee redefined SMEs to include micro, small and medium-scale businesses in order to pave the way for the government to offer assistance more directly to very small-scale SMEs.
Micro SMEs are defined as entrepreneurs who employ five or fewer employees with annual revenue of up to 1.8 million baht. Small SMEs are those with no more than 50 employees and annual revenue of up to 100 million baht.
The definition of medium-scale enterprises varies based on the sector engaged in:
Those in the industrial sector must employ 200 or fewer employees and have annual revenue of up to 500 million baht.
Those in the service sector must employ 100 or fewer employees, with annual revenue of up to 300 million baht.
Those in the trading sector must employ 50 or fewer employees, with annual revenues of up to 300 million baht.
The committee yesterday acknowledged the operating results of the Small and Medium Enterprises Promotion Office for fiscal 2018, in which 4.19 billion baht worth of income to SMEs was generated.
