SMEs positive about business future
Thursday, January 26,2017AsemconnectVietnam - Some 48% of 501 Vietnamese small and medium-sized enterprises (SMEs), which participated in The Future of Business survey, have positive views about the current situation.
This was revealed in findings unveiled by Facebook last week.
The survey, developed by the Organisation for Economic Cooperation and Development (OECD), World Bank and Facebook, is a source of information on SMEs looking to learn from other businesses.
This includes insights on how businesses are more confident if they trade internationally and how those that trade internationally are using digital tools at a higher rate.
The percentage is not so high but still higher than the global average of 42%, according to the survey, which was conducted last December, a month that was significant since it ended one year of the country’s economic development.
The December survey revealed some 69 % SMEs were hopeful of a positive future, 9% higher than the global average rate.
38% of SMEs said they created jobs in the past six months and 66% said they want to create jobs in the next six months.
Among the key findings for Vietnam, the survey revealed the most common challenges for business, which included attracting customers, increasing revenue and maintaining profitability.
“Some 78% of Vietnamese small businesses said they used online tools to advertise to potential new customer products and services,” according to the survey.
Facebook said 21% of small businesses surveyed engaged in international trade. This was high considering 70% of these businesses have fewer than 10 employees and are not large multinationals.
The most commonly reported challenges for small businesses engaging in international trade are finding business partners, market access limitations and different regulations in other countries, which comprised 82%, 64% and 54% of the participants, respectively.
Meanwhile, women running businesses were found to be as confident about the current and near-term outlooks of their businesses and reported facing the same challenges as male-run businesses.
Women-run businesses used digital tools for two of the six purposes included in the Future of Business survey, more than male-run businesses.
Small businesses represent more than 90% of enterprises in all economies and also constitute a majority of a country’s employment virtually worldwide. OECD, World Bank and Facebook teamed up to create an online monthly survey of small businesses to understand their sentiment, activities and challenges. Timely information about businesses provides a pulse on the current and future economic environment in which businesses operate and gives insight on ways to help businesses grow.
Nearly 6,100 Vietnamese businesses took part in the monthly surveys in 2016, according to reports.
Source: vov.vn
Businesses concerned about rising exchange rate pressure
Top 500 fastest growing enterprises 2024 announced
Petrovietnam posts 9-billion-USD revenue in Q1
Airlines requested to increase flights during upcoming holiday
Nam Viet Fisheries (ANV) targets 8-fold profit growth in 2024 despite low pangasius prices
Saigonres (SGR) continues to make ambitious plans for 2024
Nam Kim Steel (NKG) plans to increase profits sharply in 2024 and wants to mobilize VND1,579.7 billion from shareholders
BVBank (BVB): Profit target of VND200 billion, increased capital to more than VND6,400 billion, listed on HOSE
Banks record positive business indicators in Q1 2024
Vietjet offers speical promotions on its flights to Australia
OCB estimated to achieve about VND1,200 billion profit in Q1/2024
Cienco 4 (C4G) target 92% increase in profit after tax in 2024
PVTrans (PVT) plans for consolidated profit in 2024 to reach VND760 billion
MSB plans to profit VND6,800 billion and pay 30% dividend
Plan of Hai Duong province for a period of 2021 - 2030, ...
Organize space reasonably and harmoniously, focusing on connecting Hai Duong in common development space, actively contributing to the ...Plan of Hau Giang province in a period of 2021 - 2030, ...
Sustainable forestry development program in a period of ...
12th-century ancient road unearthed at My Son Sanctuary
An ancient road dating back to the 12th century has freshly been discovered in an excavation on architectural ruins at the east side of ...Efforts made to seek UNESCO’s recognition for Con Moong ...
Vietnam Art Photo Contest and Exhibition 2024 to be held ...
Bas-relief featuring talks between Uncle Ho and soldiers ...