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Job Retention SME Scheme

Job Retention SME Scheme

Thai Government has just approved a new handouts scheme for companies of all the sectors in Thailand to help small and medium-sized enterprises (SMEs) retain workers and create new jobs. The measure, named Job Retention SME, was just announced, and registration for companies starts on 20 October onwards.

Handouts will be transferred directly to company bank accounts, and will consist in Baht 3,000 multiplied for the number of staff, and will be paid 3 times, in 3 different months: November 2021, December 2021, and January 2022. Conditions are as follows:

  • Companies must maintain at least 95% of the staff from now and within this period
  • Eligible companies are the ones with a maximum of 200 staff
  • Companies must register online and send the documents support within 20 November 2021

This scheme is different than the previous handouts from social security scheme, although the amounts were also same, Baht 3,000 per staff, and this time registration must be done at Job Retention SME, on DOE (Department of Employment) website. available in Thai only:

The measure will cover 480,122 SMEs, which are expected to help retain employees and create new jobs for a total of 5.04 million workers. In a related development, the Labour Ministry reported to CESA as of Sept 28, the government has allocated a total of 91.7 billion baht to assist 11.8 million workers in 29 maximum-risk provinces.

The Bank of Thailand reported as of Sept 20 106 billion baht worth of loans had been allocated to 34,538 entrepreneurs under the central bank’s debt relief programme, with assets worth a combined 15.2 billion baht from 106 entrepreneurs transferred under the asset warehousing scheme.

We would like to thank Mr. Fernando Oca from the Spanish-Thai Chamber of Commerce and Siam Royal International Law and Accounting Associates Co., Ltd. for providing the summary of this new scheme.