Page 256 - Social Enterprise A New Business Paradigm for Thailand

Loopan Management Social Enterprise Co., Ltd. Among the top 10 social enterprises by net
profit, seven were established as flexibly supported spin-offs. Nearly all are based in Bangkok,
with the exception of Loopan Management. All of them are non-profit-distributing entities that

have registered for tax incentives with the Revenue Department. Most share a common social
objective, addressing social and community challenges. The one exception is Autistic Thai Social
Enterprise Co., Ltd., which focuses on creating employment opportunities for disadvantaged
groups in society.

Table 8.4 Top 10 Social Enterprises by Net Profit in 2023
Enterprise Name Net Profit (Million Baht) Percentage (%)
1. Loopan Management Social Enterprise Co., Ltd. 93.78 26.91
2. Central Tham Social Enterprise Co., Ltd. 54.53 15.65
3. Thai Digital Platform Social Enterprise Co., Ltd. 31.88 9.15
4. Chef Cares Project Co., Ltd. 22.69 6.51
5. Wongpanit International Co., Ltd. 20.55 5.90
6. Yuenyen Social Enterprise Co., Ltd. 16.48 4.73
7. Siriraj Bamrungwet Co., Ltd. 15.41 4.42
8. Autistic Thai Social Enterprise Co., Ltd. 14.80 4.25
9. Small Business Development Co., Ltd. 7.13 2.05
10. Mana Social Enterprise Co., Ltd. 6.48 1.86
Total (Top 10 Enterprises) 283.73 81.42
Source: Compiled from data provided by the Department of Business Development

8.6 Financial Performance of Social Enterprises

This section examines the financial performance of social enterprises in Thailand between 2019
and 2023 using seven key financial ratios: total income, net profit, net profit margin (NPM),
current ratio, debt-to-equity ratio (D/E), return on assets (ROA), and return on equity (ROE).
These metrics were calculated based solely on enterprises that submitted financial reports, with
the number of reporting organizations varying by year and by indicator.

As shown in Table 8.5, the number of social enterprises reporting financial data rose steadily

over the five-year period, from 174 in 2019 to 245 in 2023, reflecting an average annual growth
rate of 9%. This growth contributed to a corresponding increase in aggregate total income,
which rose from 3.58 billion baht in 2019 to 5.93 billion baht in 2023, an average annual
increase of 13%, outpacing the growth in the number of enterprises. Despite this overall
increase, average total income per enterprise changed only slightly, with most enterprises
generating approximately 20 million baht annually. However, the standard deviation was six to
seven times higher than the mean, indicating the presence of extreme outliers in the income
data. This suggests that reliance on average figures may be misleading. When examining the
trimmed mean, an average calculated after excluding the top and bottom 5% of the sample, the

figure drops significantly to around 3–4 million baht per enterprise. The median income tells a
similar story, ranging from approximately 600,000 to 1 million baht per year between 2019 and
2023.
222