The Office of Small and Medium Enterprises Promotion (OSMEP) has launched the “Pay Ten Thousand, Get Nine Thousand Back” initiative as part of its Business Development System (BDS) project called “SME WoW! Cash Return!” This campaign offers additional subsidies to MSMEs until November 30, 2023, and the first 5,000 MSMEs to participate will benefit from this fantastic offer. With a proportional subsidy of 90% or up to 10,000 baht, MSMEs of all sizes can take advantage of this unique opportunity.
Mr. Veerapong Malai, Director General of OSMEP, stated that the primary objective of this initiative is to integrate and promote MSMEs in both the public and private sectors, helping them grow and compete on a global scale. The “SME WoW! Cash Return” BDS system plays a vital role in fostering entrepreneurship and enhancing the competitiveness of MSMEs across various industries.
The Director General also explained the subsidy structure for different types of enterprises under the BDS project. To better understand the eligibility requirements and subsidy amounts, he detailed the conditions for micro, small, and medium-sized enterprises. These subsidies cap at various amounts, depending on each enterprise’s annual income and type, and provide much-needed financial relief to these growing businesses.
Mr. Malai emphasized that the “Pay Ten Thousand, Get Nine Thousand Back” campaign would provide subsidies to MSMEs of all sizes, including juristic persons and individuals registered with government agencies. This campaign intends to subsidize the first 5,000 MSMEs with a budget of 50 million baht until September 30th, 2023. To ensure legitimacy, income data will be verified through collaboration with OSMEP, the Department of Business Development, and the Revenue Department.
OSMEP is working closely with partner agencies such as the SME Thai Association and the Thai Accounting Firms Association to maximize support for MSMEs. The “Pay Ten Thousand, Get Nine Thousand Back” campaign will grant additional subsidies to 5,000 entrepreneurs in technology application services like Cloud, AI, ERP, POS, and financial accounting services, including accounting systems and management. This incentive is in addition to the twice-yearly subsidy of up to 500,000 baht per person in a fiscal year.
Currently, the BDS project has 131 Business Service Providers (BDSPs) offering 220 services on its website, with 5,475 entrepreneurs already applying for these services. So far, 660 customers have been selected, and 40.96 million baht has been allocated for subsidies. Entrepreneurs interested in the program are encouraged to register online at bds.sme.go.th and stay updated on news and benefits at www.sme.go.th as directed by the Director General of OSMEP.
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