Sustainable Small and Medium Enterprises (SMEs) in the times of COVID-19

COVID-19 has been a learning experience for all sectors of the economy. However, small and medium enterprises (SMEs) struggled to be resilient throughout the pandemic and beyond. Therefore, this research aims to explore, understand, analyze and provide recommendations to the beneficiaries of the research. The research adopts the mixed method approach utilizing both qualitative and quantitative methods to understand the business management variables and their link with Thai SMEs. The data collection involves a survey questionnaire, key informant interviews (semi -structured) and secondary data from various published research, government reports and regulations at the national and local levels in Thailand. The data analysis provided for the quantitative method with a statistical test of multiple regression. The qualitative data is categorized into themes to implement the collected interview data under the content analysis. It was found that SMEs face similar external factors, such as a lack of government support and inadequate strategies at both government and SME levels to cope with the COVID-19 pandemic. However, the internal factors, including marketing, supply chain, human resources, financial reporting and management, and managerial accounting, were also found to be highly significant in developing a sustainable enterprise.