Small businesses and the “digital divide”

Just looking at the figure of more than 80% of SMEs not having a digital transformation strategy as recently reported by the Vietnam Association of Small and Medium Enterprises, we can clearly see the challenge not only in terms of capital but also in terms of strategic vision and the will to self-innovate of enterprises.

Provincial leaders learn about the AI-integrated hand product used in the medical industry produced by VN168 Technology Joint Stock Company.

The “digital divide” that exists in SMEs is the result of a series of systemic and internal bottlenecks. The first and most obvious is the capital barrier to innovation. This problem exists in many localities, including Dak Lak , where businesses have difficulty accessing capital due to a lack of collateral. This limitation has directly eliminated the ability to invest in technology and research and development.

But the problem does not stop at funding. Many SMEs still operate under the family model, with weak management capacity and a lack of high-quality digital human resources, especially senior management teams. In addition, the lack of linkages to form value chains and inherent delays in brand building have left SMEs trapped in a vicious cycle of inefficiency.

So how to remove these "bottlenecks"? Experts and many businesses believe that a comprehensive push from the macro level is a prerequisite. The focus must be on unlocking financial resources through quickly perfecting the capital market mechanism, creating long-term capital channels for high technology and innovation. This includes building a real private capital market, perfecting the legal framework for Venture Capital Funds (VC), Private Equity Funds (PE) and especially the "Professional Investor Passport" mechanism to attract capital flows into innovation. At the same time, it is necessary to promote "Green Finance" through "Green Bonds", "Green Credit" and allow tax deductions for green investments, digital transformation, creating a dual driving force for sustainable development.

A business operating in the field of digital technology in the province.

Most notably, the need to strengthen the credit guarantee mechanism from the business side. The State needs to expand the Guarantee Fund according to the “Last resort” model, implementing targeted risk sharing to encourage commercial banks to boldly lend. However, the breakthrough factor is allowing the formation of private guarantee funds and implementing guarantees for technological risks, not just loans - something that SMEs currently cannot access.

Finally, the Government's leading role in promoting digital transformation in the public sector to set an example for the private sector cannot be ignored. Building a real innovation ecosystem and digital economy, operating under a tripartite cooperation model (State - State-owned enterprises - Private enterprises) along with establishing national digital platforms is an indispensable corridor to support SMEs.

It can be said that the digital economy is a golden opportunity for the private sector - the sector identified by the Party as the "most important driving force" to make a breakthrough in the new era. Quickly resolving difficulties and creating favorable conditions not only helps businesses grow but also contributes to building an independent, self-reliant economy based on knowledge and innovation.

Source: https://baodaklak.vn/kinh-te/202512/doanh-nghiep-nho-va-nhung-khoang-cach-so-842197e/