Roles of Thai Small and Medium Enterprises under Creative Economy
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Abstract
Most small and medium enterprises (SMEs) have acquired the status of
being either “creators” or “outsourcers”, the latter referring to SMEs that are part
of the production chain of large companies. Different roles in the production value
chain lead to business strategies that vary for each type of creative industry. Those
SMEs face many obstacles and challenges, such as an inability to meet the needs
of the consumer, reliance on large companies for the distribution or delivery of
their products to the market (The Humdrum Factor); problems adapting existing
products to suit the needs of some markets; overlooking the importance of
intellectual property (IP) registration for creative products; and not being able to
obtain adequate sources of funding, especially for those that do not have the
necessary collateral. Therefore, the following strategies have been proposed in
order to develop SMEs into becoming creative enterprises.
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