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‘We know very well how important it is for businesses to help each other. And now with the government eager to help out, we are sure that Thai SMEs will only grow stronger’“Thailand has reached the point where we have lots of knowledge but can’t work together. We have good ideas that don’t turn into profitable products. We go forth in different directions. We have information but we keep it to ourselves. The establish- ment of the Federation of Thai SMEs marks the dawn of a new era where everyone works together as a team.”The event wound down with inspirational stories from two of Thailand’s most established and successful businesses, Bangkok Bank and Central Group.Chartsiri Sophonpanich, president of Bangkok Bank PCL, spoke about the company’s role in nurturing Thai SMEs.“Through 70 years of Bangkok Bank we’ve always stood by SMEs,” he said. “One good example is the major economic crisis in 1997 that affected all sectors, our bank included. We realized that for the whole industry to survive, even small businesses had to be supported. We gave them funding, low-interest loans, start-uploans and business consultations. We also established the Bualuang SME group, where members could form a community, help each other navigate crises, improve quality, reduce costs and find more markets internationally. We held many activities to build knowledge and capacity, to be smarter at business and pass on success from one generation to the next.”Tos Chirathivat, CEO of Central Group, also saw the importance of big businesses nurturing smaller ones.“As Central Retail Corporation we sell everything to everyone, and it’s a great opportunity for us to help out smaller businesses,” he said. “Many in the past grew into big, sustainable businesses that became part of our business alliances. One of them was MK Restaurant, which opened its first branch with us at Central Lat Phrao in 1986. At the time, sukiyaki was not so popular in Bangkok. My father [late founder of Central Group, Samrit Chirathivat] saw its potential and invited MK to open their first branch, subsidizing half of their budget toget them going. We supported them in every way we could. We became allies, and as you can see now MK follows Central everywhere. It is now one of Thailand’s most successful and established restaurant chains, with branches all over the country as well as overseas.”The Central group of companies dates back to 1947, when Tiang Chirathivat started a general merchan- dise store in Surawong, importing and distributing quality goods from around the world. As the store prospered, the business evolved and expanded, creating the foundation needed by Samrit, Tiang’s eldest son, to establish the first Central Departmental Store.Finally, the moderator concluded at the end that “We never forget that we, too, started as an SME. We know very well how important it is for businesses to help each other. And now with the government eager to help out, we are sure that Thai SMEs will only grow stronger.”Elite+ 13