If a country's economic system is like a human body, SMEs are like blood vessels that help nourish the body to survive. But whenever the blood vessels are clogged would inevitably affect the body system. SCB recognizes the importance of SME entrepreneurs, therefore has organized The DOTS Digital Commerce X online training program to help strengthen the potential of Thai SMEs. And have a shield against competition in a world without borders, ready to sharpen weapons with online marketing strategies to face new challenges in the digital age. MRS. PIKUN SRIMAHUNT, Senior Executive Vice President, Chief SME Banking Officer, spoke at the opening of this training program course

Why is Growth Mindset important to SMEs?

Developing new skills and knowledge in business It is something that SME entrepreneurs must constantly learn. to be able to keep up with the new world with technology as an indicator of who will win or lose in this game Khun PIKUN Said, “People who are SME entrepreneurs must have knowledge in doing business in 360 degrees and also have a Growth Mindset, especially to see opportunities. Not giving up on the obstacles that lie in front of you. Especially now that our lives are inevitable with technology. Because technology will be the main weapon that helps SMEs to survive disruption. Therefore, understanding online sales on the platform. It is very important to use technology to reduce costs and use data to know the real customers.”

How does a big person support a small person?

Based on the importance of SMEs, SCB views that the bank's main function, in addition to providing loans for business capital, still wants to become a business alliance with SMEs so that they can move on. Especially in times of crisis that needs help, if SMEs can't survive, banks can't go on either. This is the source of the training program to help SMEs to be able to walk the business game to the online platform. Through an intensive 6-week course, more than 200 trainees will adapt their thinking, methods, and strategies to enter the digital battlefield. The bank acts as an intermediary to connect each dot to form a powerful line. to lead the Thai economy through the crisis and to become a global trade arena.

Khun Pikun Said, “The Bank sees that helping SMEs become stronger in this era. The need to reduce costs effectively. As such, the bank invests in building a platform to help small people have an ecosystem to do business and be able to compete freely. Take Robinhood, for example, with the intention of helping food businesses to have an online storefront without paying any fees or GP. While ecological stakeholders such as the rider group get a job. And next year, Robinhood will expand its services to local hotel businesses. This provides a channel to sell rooms on the platform without having to pay a fee. In addition, the bank also has SCB Trade Club, a platform to help import-export business operators able to trade products in every corner of the world. as well as collecting trade information, documents, as well as being a medium for matching partners from around the world. There is also a fee-free money transfer system that helps SMEs get convenience and speed. Including joining hands with partners to introduce business assistants to SMEs such as MyClouldFullfillment. A platform to help online sellers to store, pack, deliver goods. resulting in cost savings and efficient stock management, etc. The role of the bank is not just the lender but will be like a true friend who is ready to walk beside Passing on success to Thai SMEs to grow stronger without limits.

SME 3 main keys to empowering SMEs

Khun Pikun reiterated that “As for technology, it's inevitable so must face. I would like to say that the secret that makes a business lose or win is at the cost. If SMEs know how to use technology as a helper, it will bring enormous benefits to businesses from using technology such as:

1. Reduce costs: For example, using a bookkeeping platform eliminates the need to hire an accountant and can realize the actual cost of profit on a daily basis, enabling liquidity management. Plus, manage your taxes easily, quickly, and efficiently.
   
2. Help businesses have data to better understand how their customers behave what products do they like and how many they orders? What products should be produced that meet the needs of customers? Entrepreneurs who can unlock the secrets of data will find miracles that can help increase sales, reduce expenses, and save costs for businesses, etc
   
3. Increase credit for entrepreneurs: In the future, if SMEs need capital to expand their business, one of the credit scores that banks are interested in is an online source of income. Selling on the platform will help to clarify the source of income in a systematic and verifiable way. Including allowing the bank to see the future and the opportunity that the business can grow and adapt to the digital era will increase the credit score.

The question that SME entrepreneurs have is whether the bank uses data as information for lending decisions but usually, online sellers who accept cash can not pay taxes. But when taking the income through the bank The IRS will know how much the real income is. How do the SMEs adjust? Khun Pikun replied that “Normally, customer information cannot be disclosed because it is considered confidential. But I want you to look at it in reverse. Paying taxes correctly will help SMEs to recognize the true cost of profits of the business and should not be afraid of paying taxes. Should find a solution that If you must pay tax, how to do it as little as possible? Plus, the advantages of receiving money through banks, sellers also get data that can be used for cost management or collecting statistics on product sales as well. More importantly, it will make it easier to borrow money to expand your business. because the bank saw all the data.” Finally, Khun Pikun concluded, “Today, SMEs have to adapt and have a strong passion if they want to survive. Must find an opportunity to offer the difference and your own identity. Have to change quickly and make yourself lighter.” That is the SME survival technique of this era that Khun Pikun has said.

Source: The DOTS Digital Commerce X online training program by Khun Pikun Srimahunt, Senior Executive Vice President Chief Executive Officer SME business group Siam Commercial Bank Date 28 October 2021