Resources

Riding the Wave of the E-Commerce Trend: Emerging and Expanding Business Option for MSMEs

Advances in e-commerce accessibility have greatly reduced barriers inhibiting MSMEs from building online customer bases, whilst providing more inclusive MSME opportunities. To empower MSMEs to take advantage of online resources, the project will present latest e-commerce trends, demonstrating how MSMEs can benefit from third-party selling platforms, tailored distribution services, e-finance and payment mechanisms, and evolving online consumer habits to foster business expansion opportunities. A two-day event will enable MSME owners, entrepreneurs, and policymakers to learn from and network with speakers including successful e-commerce entrepreneurs, logistics and e-commerce payment experts, third-party platform providers, and government representatives, through interactive presentations and moderated panel discussions. This project will support the business environment, market access, and internationalization priority areas by identifying what MSMEs need to better access the digital economy and increase participation in global markets, and developing recommendations and best practices for use by APEC member economies in developing policies to support MSMEs.

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Thailand’s SMEs’ Single Bookkeeping Scheme

SMEs’ Single Book Keeping Scheme” is part of the Thai government's measures to strengthen SMEs access to finance with a single set of accounts and encourage them to comply with the tax laws. SMEs that have registered capital of no more than 5 million Baht and income of no more than 30 million Baht who have registered with the Revenue Department since 15 January, 2016, till 15 March, 2016, must inform the Revenue Department that they will open an account that shows their income and financial budget to be in line with the real business situation (single account). The Revenue Department will not inspect any retrospective tax even if it is tax of a juristic entity, VAT, business tax, or revenue stamp, so in order to have knowledge and understanding relating to the correct process of bookkeeping, as well as actually work and draft an appropriate investment plan for the business.

SMEs’ Role Model: Thailand Case Studies

Thailand presented the cooperation model between the Office of SMEs Promotion and the Stock Exchange of Thailand in identifying and incubating SMEs which have high potential to raise fund and be listed in the Market for Alternative Investment (MAI) or the stock market for SMEs. It highlighted two SMEs companies in non-hi-tech sector that had got access to MAI.

These two SMEs role models represent which rose from being micro enterprise to larger firms with international presence through the opportunity to raise fund in the stock market

Thailand’s SMEs’ Single Bookkeeping Scheme

SMEs’ Single Book Keeping Scheme” is part of the Thai government's measures to strengthen SMEs access to finance with a single set of accounts and encourage them to comply with the tax laws. SMEs that have registered capital of no more than 5 million Baht and income of no more than 30 million Baht who have registered with the Revenue Department since 15 January, 2016, till 15 March, 2016, must inform the Revenue Department that they will open an account that shows their income and financial budget to be in line with the real business situation (single account). The Revenue Department will not inspect any retrospective tax even if it is tax of a juristic entity, VAT, business tax, or revenue stamp, so in order to have knowledge and understanding relating to the correct process of bookkeeping, as well as actually work and draft an appropriate investment plan for the business.

SMEs’ Role Model: Thailand Case Studies

Thailand presented the cooperation model between the Office of SMEs Promotion and the Stock Exchange of Thailand in identifying and incubating SMEs which have high potential to raise fund and be listed in the Market for Alternative Investment (MAI) or the stock market for SMEs. It highlighted two SMEs companies in non-hi-tech sector that had got access to MAI.

These two SMEs role models represent which rose from being micro enterprise to larger firms with international presence through the opportunity to raise fund in the stock market

SMEWG Financial Literacy Survey – Now and Next

Thailand presented on the results of its survey on the current state of financial literacy and proposed options for next steps to carry on the work, including to ensure SMEs in the financial literacy education programs and to continue monitoring the current level of financial literacy in economies.

Promoting Innovation Seminar: How Smart IPR Policies Can Encourage SMME Research and Development

The workshop on Promoting APEC SME Innovation through Smart IPR Policy was held on 17 – 18th September 2014 in, Bangkok, Thailand. The main objectives were to foster discussion on the needs of SMEs with regards to national IPR systems so that future policy‐making could better benefit SMEs’ innovation and growth, and to produce a list of specific recommendations of policy initiatives that governments could take to improve their IPR systems and promote SMME innovation.

Trade Barrier 1: Lack of Access to Financing

The United States discussed the compendium of top financial products available in APEC economies to help SMEs trade, which included products such as guarantees, short and long-term loans, insurance, relending and investment financing.

Discussion Guide on Venture Capital

The Venture Capital breakout session was entitled “Venture Capital: Promoting a Financing Solution for APEC SMEs.” Discussion focused on four broad problem areas confronting APEC SMEs. It was concluded that a number of activities might be designed to address these issues, including seminars on incentives for international VC investors; networking for VC investors; SMEs, and policy makers; and coaching for SMEs on successfully attracting VC.

SMEWG Financial Literacy Survey

The report focused on preliminary findings of the APEC SMEWG financial literacy survey. It pointed out strategic gaps in the areas of financial literacy education and in financial literacy policy. Recommendations for future surveys were made and member economies were invited to discuss the logical next steps.