Leading business groups have teamed up with the Thai Chamber of Commerce to help small and medium-sized enterprises (SMEs) enhance their skills and raise combined sales by 5 billion baht in one year.
Recognised companies such as Boon Rawd Brewery Group, CP All Plc, Siam Cement Group and Toyota Motor Thailand are taking part in the Big Brother 50 project with the Thai Chamber of Commerce.
The project is being sponsored by the Office of Small and Medium Enterprise Promotion to help SMEs develop their skills to survive amid intense competition.
Under this project, 50 selected SMEs will be cultivated to be prepared for future expansions to Asia, said Palit Bhirombhakdi, executive vice-president of Boon Rawd Brewery Co.
"We hope each SME will see revenue rise sharply to at least 100 million baht within one year after joining this training project. The coaches will give them knowledge and expertise in all aspects to help them grow," he added.
The Big Brother 50 project, which was kicked off yesterday, has the objective to assist 50 high potential SMEs to have their combined sales exceed 5 billion baht within one year.
Mr Palit, who is also deputy secretary-general of Thai Chamber of Commerce, said this SME training project will support the government's Thailand 4.0 initiative that aims to help SMEs grow and contribute to 50% of the country's GDP within 2021, up from 42% currently.
There are more than 2.7 million SMEs across the country in all forms, registered, unregistered, as well as start-ups, according to a survey by Thai Chamber of Commerce.
There are nearly 70,000 SMEs registered with Thai Chambered of Commerce.
"Thai SMEs have good products but lack management skill, sales channels and network as well as investment budgets. The training programme will offer them essential knowledge and expertise for real development," he said.
The Big Brother 50 project will be totally different from other SMEs programmes because it will give participants two-way communications where they can react and follow their plans within the training guidelines.
Mr Palit said the participants will, at a minimum, receive tangible business plans to operate with in the future.
There are a few hundred SMEs, mostly from the food and beverage sector, registered to participate in the Big Brother 50 project.
For selection, SMEs must have at least two years of business experience and be capable of generating at least 50 million baht in revenue annually. They must have intentions and eagerness to develop and reach the international market.