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Growing International Focus of Việt Nam’s Small Businesses

Overview of the Annual Small Business Survey

HCM CITY — A recent annual small business survey conducted by CPA Australia, one of the most prominent professional accounting organizations worldwide, has revealed that Việt Nam’s small businesses are increasingly leaning toward international markets. This trend indicates a significant shift as these businesses aspire to expand their horizons beyond local boundaries.

Notable Findings from the Survey

The survey included responses from over 300 businesses, each employing fewer than 20 staff members. An eye-opening detail revealed that by 2025, 28 percent of these small enterprises expect a considerable boost in overseas sales—a significant increase from 15 percent reported in 2024. This upward trend not only reflects a burgeoning confidence among small business owners but also highlights their ambition to remain competitive globally, even amid prevailing market uncertainties.

Growth Metrics and Projections

Additionally, small businesses in Việt Nam reported impressive growth in 2024, with 82 percent indicating positive performance, a rise from 77 percent in 2023. This marks the country’s highest growth rate since 2019. Projections for 2025 are even more optimistic, forecasting that 92 percent of small businesses will experience growth—this figure exceeds expectations in all 11 markets surveyed by CPA.

A similar sense of optimism surrounds the overall economy, as 93 percent of small business owners expect economic growth next year. This statistic far surpasses the Asia-Pacific average of 67 percent and represents the highest confidence among all markets surveyed.

Factors Contributing to Optimism

Chris Freeland, CEO of CPA Australia, credits this optimistic sentiment to the youthful, tech-savvy, and innovative nature of Việt Nam’s small business sector. “Việt Nam’s small business community is characterized by dynamic entrepreneurs who actively embrace technological advancements and innovative strategies. Their agility and openness to invest in digital solutions position them as potential leaders in the region," Freeland stated.

He elaborated that Việt Nam ranks highly in various technology adoption metrics within the Asia-Pacific region. Small businesses demonstrate outstanding performance in areas such as e-commerce, social media utilization, digital payments, and consulting IT specialists, showcasing a clear commitment to technological advancement.

Access to Funding and Investment in Technology

Furthermore, the survey indicated that easier access to funding has been pivotal for growth, with 80 percent of Vietnamese small businesses seeking external financing in 2024, up significantly from 73 percent in 2023. The investments made, particularly in technology, yield high returns, with 88 percent of small businesses reporting improved profitability from their technological investments last year.

Particularly noteworthy is the doubling of investment in artificial intelligence (AI) among small businesses in Việt Nam, now standing at 44 percent in 2024. A remarkable aspect is that nearly half of these businesses are utilizing AI for operational advice, showcasing an eagerness to embrace cutting-edge technologies.

Freeland remarked, “While many other markets appear cautious about adopting AI, Việt Nam’s small businesses are setting trends by proactively investing in such technologies.”

Cybersecurity Threats Facing Small Businesses

However, the survey did point out a significant challenge: cybersecurity threats. In 2024, 60 percent of respondents reported suffering losses attributable to cyberattacks, notably exceeding the survey average of 40 percent. Furthermore, a concerning 68 percent anticipate cyber attacks this year, the highest rate among the markets surveyed.

These statistics underscore the critical importance of implementing stringent cybersecurity measures within the small business sector in Việt Nam.

The Importance of Cybersecurity

With technology being deeply intertwined with daily business operations, Freeland emphasized that cybersecurity should be a paramount concern for small businesses. “In light of Việt Nam’s extensive technology use, proactively fortifying cybersecurity practices is crucial for sustaining their growth and ensuring customer trust,” he added.

As Việt Nam’s small businesses continue to weave technology into the fabric of their operations, maintaining robust cybersecurity is vital to their ongoing success and stability.

How AI legalese decoder Can Help

In navigating the complex landscape of business regulations and legal obligations, tools like the AI legalese decoder can be invaluable. This tool helps small business owners quickly understand legal documents, contracts, and compliance requirements, reducing the risk of misunderstandings that can arise from complex legal jargon. By utilizing AI-driven technology, small business operators can focus on their core competencies—innovation and growth—while ensuring they adhere to the necessary legal frameworks to protect their interests.

As CPA Australia highlights the future success of Việt Nam’s small business sector will inevitably rely on both technological advancements and robust legal understanding, integrating tools like AI legalese decoder will serve as an essential part of sustainable growth strategies.

Conclusion

In conclusion, the landscape for small businesses in Việt Nam appears more promising than ever, characterized by robust economic confidence and an enthusiastic embrace of technology. However, addressing potential cybersecurity threats and ensuring legal compliance through innovative tools will be key factors in their continued success. With support from organizations like CPA Australia and technological advancements, Việt Nam’s small business community is poised to thrive in both local and international markets.

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