Bangkok (VNA) – Thai small and medium-sized enterprises (SMEs) continued to face mounting challenges in the second quarter of 2026 as rising operating costs, growing debt burdens and tightening liquidity weighed on business performance, according to a survey released by the University of the Thai Chamber of Commerce (UTCC).
The SMEs Competitiveness Index fell to 45.1 points in the second quarter, down 0.8 points from the previous quarter and remaining below the 50-point threshold that signals a contraction in business conditions.
The survey, conducted by the Institute of Trade Strategies and the Faculty of Economics at the UTCC, covered 641 micro, small and medium-sized enterprises across Thailand's manufacturing, trade and service sectors during July.
The SMEs Situation Index stood at 43.9, the SMEs Competency Index at 46.5, and the SMEs Sustainability Index at 44.9. All three component indices remained below 50, indicating that business conditions remained difficult.
Debt and operating costs emerged as the biggest concerns among respondents. The survey showed that debt scored 37.5 points, while operating costs and expenditures registered 40.9 points. Meanwhile, 31.1% of businesses reported lower revenue than a year earlier, 35% experienced declining orders and 41.8% said their overall debt had increased.
Micro-enterprises were hit hardest, recording a business conditions index of 38.5, compared with 43.4 for small businesses and 48.2 for medium-sized firms. The smallest businesses cited declining orders, mounting debt and limited income-generating assets as their main constraints.
Technology and innovation, together with product and service quality, received relatively higher scores of 47.5 and 47.3, respectively. However, businesses continued to struggle with product differentiation, which scored only 45 points.
The survey also found that the government's Thai Help Thai Plus 60/40 support programme had benefited participating businesses. Among respondents enrolled in the scheme, 50.4% reported direct positive impacts through increased customer spending, while 28.8% experienced indirect benefits. Overall, 79.2% said the programme had delivered either direct or indirect gains./.
