SME Confidence Drops in Q3 Amid Rising Costs
SME confidence in Thailand slipped in the third quarter of 2026 as rising costs and a slowing economy weighed on profits, according to a survey by SME D Bank. The bank expects a rebound in the final quarter driven by recovering domestic consumption, the tourism high season and anticipated order growth, and is preparing low-interest loans to help businesses manage expenses and adopt cleaner energy.
The survey of 400 SMEs nationwide found the overall confidence index fell to 49.9 in Q3/2026 from 51.9 in the previous quarter, reflecting concerns over higher costs and unclear government support. Micro and small enterprises remained above the 50-point threshold, while medium-sized firms dipped below; confidence was highest in the services sector at 60.1, followed by construction at 55.4 and manufacturing at 52.8. Looking ahead to Q4/2026, the index is expected to rise to 58.2 as order recovery, stronger domestic consumption, the tourism high season and expanding investment boost business outlook, although high operating costs remain a concern. Most SMEs said they need working-capital loans in Q4, with a clear increase in demand for investment financing. The survey also showed that the government’s 'Thai Helps Thai Plus' programme raised sales by 5–20% and expanded customer bases, especially for micro enterprises, with spillover benefits to other firms. In response, SME D Bank is preparing special low-interest loans to improve liquidity, cut financing costs and support a shift to clean energy for sustainable growth.
