Highlights
- Thammasat University and the Office of Small and Medium Enterprises Promotion (OSMEP) have launched the “Empowering Thai SMEs for the Future” project and the “18th SME National Awards 2026” to enhance the potential of Thai entrepreneurs.
- The initiative focuses on equipping Thai SMEs to adapt and compete in the new economy, prioritizing Digital Transformation, Innovation, and International Sustainability standards.
- The project introduces a development framework built on three strategic pillars: Digital Transition, Innovation Transition, and Green Transition.
Currently, Small and Medium Enterprises (SMEs) serve as a vital engine of growth, generating substantial employment and income for the nation. However, a significant challenge lies in elevating the vast number of micro-enterprises, enhancing their competitiveness to match small and medium-sized enterprises, which constitute a powerful foundation for economic value creation.
Recently, Thammasat University, in collaboration with the Office of Small and Medium Enterprises Promotion (OSMEP), launched the “Empowering Thai SMEs for the Future” project alongside the “18th SME National Awards 2026.” This initiative aims to effectively promote and develop Thai entrepreneurs and was officially inaugurated on March 10, 2026, at the Mövenpick Hotel Sukhumvit 15, Bangkok.
The Role of SMEs in the Thai Economy
Ms. Panita Shinawatra, Deputy Director and Acting Director of OSMEP, revealed an analysis of the Thai SME landscape, noting that SMEs are the primary engine of the national economy, accounting for 99.5% of all enterprises. However, a structural challenge remains: while Micro SMEs are numerous, their revenue-generating capacity is relatively low. In contrast, the “Top of the Pyramid” (Small and Medium enterprises) represents a high-potential group that drives the majority of the revenue. Consequently, OSMEP recognizes the urgent need to scale these businesses to ensure a more robust economic foundation.
Elevating SMEs via Three Strategic Pillars
Associate Professor Dr. Orapan Khongmalai, Director of the Office of the Registrar at Thammasat University and Project Leader, stated that the primary goal is to scale businesses from Medium (M) to Large (L). The project covers key strategic sectors, including Food & Beverage, Health & Wellness, Tech & Innovation, and Services. The development framework is anchored by three essential pillars:
- Digital Transition: Enhancing competitiveness through digital technology.
- Innovation Transition: Fostering innovation in branding, products, and services.
- Green Transition: Elevating business standards to be environmentally friendly and aligned with global ESG criteria.
The project is designed to be a vital gear in building a strong Business Ecosystem, transforming Thai SMEs from “survivors” into “leaders” capable of shaping Thailand’s future economic stability.
Collaborating for Sustainable Growth
The project has established a network of national partners, including the Office of National Higher Education Science Research and Innovation Policy Council (NXPO), The Stock Exchange of Thailand (SET), UOB Bank, BizzUp, and Jay Capital Advisory Limited. This collaboration aims to provide SMEs with specialized knowledge, business opportunities, and improved access to funding.
Thammasat’s Role in Shaping the Future of SMEs
As the implementing partner assigned by OSMEP, Thammasat University translates policy into systematic action. By providing training and expertise in management, digital technology, innovation, and the green economy, the university empowers SMEs to scale from M to L. This prepares Thai entrepreneurs to compete effectively on both national and international stages, ensuring long-term sustainable growth.
SME entrepreneurs interested in joining the ‘Empowering Thai SMEs for the Future’ project can find more information and stay updated at https://empowering-sme.com
