Success Factors for Small and Medium Enterprises in Thailand - Essay Example

This paper considers how three different approaches in research methodology (quantitative, qualitative, and mixed design) could be applied to the topic area ‘What is below the surface and underlying success factors for small and medium enterprises in Thailand?’ using examples from the literature. We will explain which approach is most suitable by analyzing the options, and then formulate a proposed design detailing what reliable and valid secondary data would be collected and how to address the research question.

First, a brief introduction to SMEs in Thailand is given to introduce the subject area of the proposed study. This includes what they are, their role, and important statistical facts. This is followed by a preliminary overview of some support initiatives provided to SMEs mostly by the Thai government. The identification of possible success factors helps to better focus the proposed study.

SMEs in Thailand

SMEs are an important foundation of business activity in the Thai economy. They have made an immense contribution to its economic development “as they are the resources of job creation and revenue distribution for people in general” (innovationsme.com, 2008). Significantly, they are also the driving force behind the competitiveness and globalization of Thai products. It is therefore incumbent upon the government to support SMEs.

An early study of trends of SMEs in Thailand was conducted by Wiboonchutilula (2002), which reviewed their evolution. It showed that total employment by SMEs fell during the latter part of the last century before the economic crisis of 1997, but this is largely confined to very small firms (with fewer than 10 workers) and is attributed to high economic growth. As of April 2009, the number of reported SMEs in Thailand is around 2.4 million of which 400,00 are classified as genuine according to the Thai National Statistical Office (Pongvutitham, 2009).