Abstract

This study explored the key factors influencing the sustainable success of herbal businesses in Sakon Nakhon Province, Thailand, amid the growing global demand for herbal products. The research focused on the economic, social, environmental, and managerial aspects affecting sustainability and competitiveness. We employed a quantitative research approach, including Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM), with a sample of 342 herbal business entrepreneurs. It was found that cultural factors, local knowledge, and social capital had the most direct effect on business success (1.271, p < .01). These were followed by external factors like government support and consumer demand (0.486, p < .05) and finally, internal factors like business strategy and management (0.126, p < .05). The study confirms that these variables are essential for developing effective business models to enhance growth, sustainability, and regional economic development. Additionally, the research identifies strategies to optimize management practices, innovation, and marketing tailored to the local herbal industry. These insights serve as valuable resources for stakeholders aiming to strengthen the sector and promote long-term success.

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