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Baht/$ 33.49/52
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GOLD |
14,600
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Small and medium enterprises in the provinces are starting to feel the impact of high prices of high raw material prices, says the chairman of the Federation of Thai Industries, Santi Vilassakdanont.
Many provincial FTI members, he added, faced the extra burden of having to pay their suppliers in cash.
''Paying for goods by cash has been more common since early this month, especially rural areas,'' Mr Santi said.
He said suppliers were reluctant to give credit because of the poor business climate. Businesses are normally given two weeks to pay their suppliers.
Rural businesses are expected to be hit worse than businesses in Bangkok because of higher transport costs.Some FTI members are requesting 30% deposits from new customers and suppliers.
Most FTI members,he said, had responded by working harder to control costs and increase energy efficiency.
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