The sustainability of OTOP Development, Finance Aspect, on the Basis of Risk Management toward Finance of the Sufficiency Economy in Samut Prakan Province Under New Normal

Abstract

Following the COVID-19 pandemic, OTOP entrepreneurs in Samut Prakan Province faced financial and economic uncertainty, creating business risks. This study aims to assess and propose financial risk management guidelines to develop sustainable OTOP businesses through financial risk management based on the Sufficiency Economy Philosophy under the new normal lifestyle. The sample consisted of 406 OTOP entrepreneurs. Data were analyzed using descriptive statistics (percentage, mean, standard deviation) and inferential statistics (one-way ANOVA and multiple regression) at a significance level of 0.05. Results revealed that 1) most respondents were food producers in the community, certified with local identity and 4-star products, earning 100,001–500,000 baht, with low expenses, low burden, and low financial risk. 2) Income and expenses were the most significant risk factors, followed by financing, interest rates, and current inflation rates in order. 3) Entrepreneurs should produce according to customer order, reduce inventory, expand markets, and manage working capital efficiently. 4) To ensure sustainability, they should increase income, reduce costs through clear business plans, group collaboration, and maintain income-expense records.