Entrepreneurs’ Qualifications and Business Success: A Case of Thai MSMEs Entrepreneurs in Trade Sector

Abstract

           MSMEs played vital roles in the modern economies of many countries, particularly in Thailand. The MSMEs are known as major sources of employment, local resources maximizers, and local’s economy drivers. The objectives of this study were to investigate and analyze key success factors of the MSMEs’ entrepreneurs who are successfully established and maintain their business focusing on their qualifications. The study also aims to investigate the influence of the external factors on the MSMEs’ success. The study was quantitative research using survey questionnaire to conducts data from 400 MSMEs entrepreneurs in trading sector who their businesses were at least 3 years from the establishments. Descriptive statistics were applied to describe the respondents’ demographic profile and situation analysis whereas inferential statistics were applied to analyze the variables, test the relationships, and to test research hypothesis at statistically significant .05.
           The research results revealed that influence on the success of their business management rank from financial support, knowledge in website/platform, ability in product presentations, networks building ability, and business background, and resources respectively. According to external factors, the results revealed that economic was found to be the most important factor for the success of MSMEs business operation, followed by technology factors which this study found that the purchasing power influence the business expansion, the entrepreneurs knowledge in contemporary social and cultural factors influence the MSMEs’ business success, and political factors which the study found the MSMEs’ participants concern most is the assistance from the Thai government’s officials that affiliated to trade promotions influenced on their success, finally, legal factors had positive effect pm the success of the entrepreneurs respectively.