The article introduces a new method to predict the likelihood of small and medium enterprises in Thailand going bankrupt. By using a special statistical technique called a multivariate copula, the researchers were able to better understand the relationship between different economic sectors and how they affect insolvency. The results showed that this new method outperformed traditional models in both simulations and real-world applications. This approach helps to explain how a company's financial health can impact its chances of going bankrupt, providing valuable insights for businesses in Thailand.