Bangkok: Voices from the business sector in Thailand have called for an urgent restructuring of the country's financial system to support the growth of small and medium-sized enterprises (SMEs). Amidst rising production costs, declining orders, and restricted access to funding, entrepreneurs are advocating for changes to ensure business survival.

According to Thai News Agency, Mr. Issaret Rattadilok Na Phuket, Managing Director of Ultimate Packaging Co., Ltd., highlighted the financial system's over-reliance on commercial banks as a significant obstacle for Thai entrepreneurs. With limited access to capital, many businesses find themselves in a precarious position during economic downturns when obtaining loans becomes increasingly difficult.

The lack of liquidity, as orders decrease, presents a substantial challenge to maintaining business operations. Isares emphasized that cash flow is vital for the survival of businesses, and the current economic structure exacerbates the issue. He advocates for developing alternative funding sources, such as enhancing the capital market for SMEs, introducing new financial instruments, and creating a more accessible investment support system.

In addition to financial restructuring, Isares pointed out the need for energy and economic sustainability. He suggests promoting alternative energy sources, including solar power and biodiesel, to reduce long-term energy costs. Government-to-government cooperation could also make energy equipment more affordable for the private sector.

Strategically, Isares believes leveraging Thailand's strengths in travel, health and wellness, and quality-of-life services could yield significant economic opportunities. He further stresses the importance of reducing inequality in the business system to ensure fair competition and sustainable growth for businesses of all sizes.

In conclusion, Isares urges Thailand to address structural problems beyond short-term economic measures, encompassing the financial system, energy, and competitive business structures, to foster a more resilient economic environment.