SET continues to drive potential of Thai family businesses

Editorial Staff

SET continues to drive potential of Thai family businesses and promote ecosystem development towards sustainability

Over 250 participants attended a seminar entitled "The 1st SET International conference on family business: Family Business in the Changing World" organized by The Stock Exchange of Thailand (SET) during August 3-4, 2023.

Both local and international experts shared viewpoints on driving successful businesses and paying attention to all dimensions in order to adapt to changes is a must. The results of the event survey among participants indicated that business structure and allocation of benefits for members in family business are the core issues and tackling them are the top priorities.

SET president Pakorn Peetathawatchai said that SET, together with partners, has recently organized the conference to showcase the importance of family business to all sectors, jointly support mechanism and create a favorable environment to strengthen Thai family businesses to become the main engine of the economy.

This conference aims to be a starting point of cooperation to promote the potential of Thai family businesses. SET expects to see the synergy of relevant sectors in driving the ecosystem for further development of family businesses due to the fact that Thailand has many healthy family businesses with potential growth. Statistically, family-run firms account for 57 % of the total number of listed firms on SET.

“In the past seven years, 70 % of the newly listed firms are the firms that have grown from family-owned businesses. SET is ready to enhance Thai entrepreneurs in terms of knowledge, expertise, and various tools and services specifically developed to meet business needs and expand business opportunities to access funding sources in the capital market,” said Mr Pakorn.

The leading world-class experts and consultants in family business were invited to share their interesting perspectives and know-how to enhance potential of Thai family businesses. Prof. Dr. John A. Davis, founder and chairman of Cambridge Family Enterprise Group and director of the Family Enterprise at the MIT Sloan School of Management, the U.S., pinpointed three elements that support family enterprises to pass on their success from generation to generation.

They are 1) specifying direction of business growth (Growth), 2) the personnel both family members and professional executives (Talent), and 3) the Unity.