Thailand approves subsidies to help SMEs keep staff employed
- Charles Chau
The subsidies of 3,000 baht (US$88.5) per month per employee will be paid out over three months, said government spokesman Thanakorn Wangboonkongchana, adding that the subsidy was proposed by the Centre for Economic Situation Administration (CESA).
Other details of the scheme, aimed at helping SMEs retain staff who otherwise may be laid off, are:
– It is open to private firms operating within the social security system with up to 200 Thai employees. They must register to join the scheme in October this year and will get three months of subsidies from November to January.
– The subsidy will be based on the actual hiring of workers and the number of employees who give monthly contributions to the Social Security Fund;
– Employers must maintain staff levels at 95% or more; otherwise, no subsidies will be provided that month. If they hire additional workers, they will receive additional subsidies based on the actual number of employees, up to a maximum 5% more than at the start of the scheme.
READ: Thailand budgets US$1.3 billion job support for small businesses
“These measures are expected to maintain the employment of Thais in 480,122 SMEs each with up to 200 employees. A total of 5,040,176 workers are expected to be on these payrolls,’’ Thanakorn said, according to the Bangkok Post.
