Social enterprises are organizations that apply business skills for core values rather than for profit. In Thailand, social enterprises are supported by the government, allowing the nation to have a sophisticated structure for social enterprise. In 2009, the Thai government formed the National Social Enterprise Committee to raise awareness and gain more finance. The following year, the Thai Social Enterprise Office (TSEO) was formed and $3.2m worth of funding has since been provided.
Other than the Thai government, the King is also a huge contributor of social enterprise in Thailand. Social enterprises such as Change Fusion allow the youth in Thailand to lead the social enterprise movement through social media. Moreover, in preparation for tsunamis in Thailand, social enterprises and various government agencies have gathered to anticipate such natural disasters. However, it is evident that government support is crucial for social enterprises to thrive, as the current government has failed to do so.
The prime minister, elected last June, spent less time for social enterprises than the past, demonstrating less political support for social enterprises. However, the TSEO is hallway through its five-year plan and is in a plethora of investors, leading a bright future for social enterprises in Thailand.
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