The Thai Coup and Small Business Confidence in Bangkok

Thailand's recent coup was not received favorably in the West, but many parts of Thai society support it, including small business. The Bank of Thailand's Business Sentiment Index (BSI) has improved greatly since the coup in May. In late 2013 and early 2014, anti-government protests and pro-government reaction added to problems for Bangkok small businesses. However, the long-term issue was continuing lack of confidence that the government would help struggling small businesses, and feelings that Thailand needed drastic reorientation. BSI showed a steady downward trend during most of Thaksin's initial administrations from 2001 to 2006. After the 2006 coup, though volatile, BSI gained modestly, but collapsed when elections returned Thaksin's proxy party to power in December 2007. BSI then recovered under opposition government, but declined again once Thaksin's Pheu Thai Party took power in 2011. The coup has provided drastic reorientation. Generally, small businesses in Bangkok believe Thailand has a chance to get back on the right track now. In-depth interviews with small businesses near where one of the main protest sites operated show some details of this sort thinking among small businesses. Generally, whatever side of the color politics they may have been on, mainly they want their small businesses to succeed, and are cautiously optimistic now