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The difference: Startups & SMEs

2021 was strong with many companies known as startups. Everyone talked about being a startup, and recently, there is a company called Flash Express, which is considered the first startup unicorn in Thailand. Many people may have been confused about the difference between startups and SMEs and where the term "startup" originated.


In reality, startups have been around for a long time, but they have grown primarily in the United States in Silicon Valley, where many companies have grown from here, such as Apple, Facebook, Google, and many other brands. These companies are largely technology-related businesses that aim to improve the lives of people in various ways. So, how do we distinguish between a startup and an SME?


In terms of structure, startups and SMEs do not differ significantly because they are businesses started by a small group of people with similar ideas. However, what is crucial for startups is the need to make the company grow as quickly as possible, often referred to as "scaling up." A clear example is Facebook, which took only a few years to make people worldwide use it more for news consumption than watching TV, changing consumer behavior.


However, as mentioned earlier, since startups usually begin with a few people, it can be challenging to secure significant investment capital. Therefore, fundraising is essential to help the business grow. In the world, there are events and showcases to help startups start presenting their ideas to attract numerous investors. If you have seen the Korean series "Startup," you would know that doing a startup is not easy, and not everyone sees eye to eye with us when presenting to investors. We must acknowledge that in Thailand, the government is paying more attention to startup businesses because, in the current global landscape, relying solely on imports and exports of fruits, vegetables, or even tourism is not enough. We need to encourage more students, learners, or people with interesting ideas to start more startups to support Thailand's economy.

 

*The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any subject matter.

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