Small and medium enterprises (SMEs) form an overwhelming majority of all businesses in Thailand and play a vital role in driving the country’s social and economic development. Through both creating jobs and leading innovation, SMEs also serve as a crucial mechanism in distributing income and reducing inequalities particularly for Thailand’s agricultural sector and have the potential to become social businesses that deliver social, environmental, and economic value on a national scale.  

The Bio-Circular-Green (BCG) Model brings together science, technology, and innovation to deliver economic growth in an environmentally-conscious way. Combining the Bio Economy, the Circular Economy, and the Green Economy, the BCG Model is Thailand’s national strategy responding to a global effort to deliver green, inclusive, and sustainable development.  

According to The World Bank research on Understanding Poverty,  access to finance remains a key constraint to SME growth and is the second most cited challenge SMEs face to expand their businesses in emerging markets and developing countries. Lack of localization and practical approaches to national strategies at the SMEs level further serves as an additional barrier for both policy implementation and the involvement of small businesses. Public-private and civil-society collaborations can deliver the necessary capacity building and funding mechanisms for SMEs to participate effectively in Thailand’s BCG Economy.