100 billion baht fund in the works for small businesses

A pay cheque might be on the way for small businesses that kept paying their employees, despite loss of business from the pandemic. An up to 100 billion baht fund, or 3 billion USD, is planned to be set up to help Thailand’s small businesses, according to Reuters.

Deputy PM Somkid Jatusripitak said assistance from the Finance Ministry will be for businesses that keep workers on their payroll, despite the stress the pandemic has put on the economy.

The outbreak has caused many businesses to close and revenues to decrease dramatically. Somkid said some businesses have struggled to keep employees on the payroll, adding that those who made sure their employees taken care of should get government assistance.

The ministry is still discussing possible aid, such as loans, for the businesses.

Somkid acknowledged that small operators still have no access to funding, “which is a worry”.

SOURCES: Reuters | Bangkok Post

Business NewsCovid-19 News

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Caitlin Ashworth

Caitlin Ashworth is a writer from the United States who has lived in Thailand since 2018. She graduated from the University of South Florida St. Petersburg with a bachelor’s degree in journalism and media studies in 2016. She was a reporter for the Daily Hampshire Gazette In Massachusetts. She also interned at the Richmond Times-Dispatch in Virginia and Sarasota Herald-Tribune in Florida.

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