These entrepreneurs point out that the current crisis is comparable to the 1997 financial crisis. Although it may not appear as severe on the surface compared to 1997, its impacts are gradually becoming evident. This crisis began to manifest during the COVID-19 pandemic, during which businesses made significant adjustments, including cutting back on benefits and expanding their client base. However, bank loans and interest burdens from borrowing during the pandemic continue to weigh heavily on these enterprises, contributing to the current financial stagnation.

Downturns in the real estate sector directly affect related businesses upstream and downstream, potentially leading to numerous business closures. Among the entrepreneurs gathered, there are startups operating for less than 10 years to SMEs and factories operating for over 60 years with up to 500 employees. They emphasize that without urgent stimuli for the overall economy and the real estate market, layoffs will have ripple effects, impacting the nation's vital labor force, as the SME sector is Thailand's largest employer.

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To address this crisis, entrepreneurs have proposed 7 urgent stimulus measures:

1. Soft loans for real estate-related entrepreneurs: Providing soft loans as working capital to manage overdue trade receivables over an extended period.

2. Low-interest loans for first-time homebuyers: Including the removal of loan-to-value (LTV) measures for purchasing second and third homes.

3. Measures to attract purchasing power from foreign workers (foreign nationals): For instance, increasing the land ownership limit to 99 years and raising the apartment purchase limit to 75%.

4. Measures to stimulate purchasing power: Lowering costs, transfer fees, and tax exemptions.

5. Lowering import taxes for the manufacturing industry: To help reduce production costs.

6. Reducing water and electricity fees for industrial sectors: Including reductions in contributions to social security payments.

7. Establishing institutions or organizations to protect entrepreneurs: Providing assistance and advice.

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The government is considering real estate stimulus measures that entrepreneurs believe will stimulate purchasing decisions. They urge relevant departments to collaborate to address potential crises that may arise in the near future. Currently, many industry entrepreneurs have laid off large numbers of employees, with some companies reducing their workforce by more than half.

During periods of economic growth, entrepreneurs have proposed new employment ideas that could be developed while contributing to society. For example, some entrepreneurs have created job opportunities for villagers who previously relied on farming, preventing them from clearing forests and grasslands to expand agricultural land. However, the current economic slowdown is severe, forcing many workers to return to their original hometowns, potentially resuming their previous environmentally damaging occupations.

Some entrepreneurs are using accumulated funds to pay fixed costs burdens. However, if the situation does not improve, accumulated capital will be depleted, leading to massive layoffs that could significantly impact the country's purchasing power. Therefore, implementing urgent stimulus measures to support the real estate industry and its related supply chains is crucial not only for business survival but also for the broader economic recovery of the country.