Young Entrepreneurs - Challenges and Opportunities

In the era of globalization and the 4.0 industrial revolution, young entrepreneurs play a very important role in promoting economic development and building brands for businesses. In Ca Mau province, young entrepreneurs are not only the key force in local economic development but also pioneers in innovation, start-ups and application of advanced technology in production and management.

With great potential in agriculture , aquaculture and marine economy, Ca Mau is facing great opportunities to develop strongly in the Mekong Delta region. However, this development still faces many challenges, especially for the young business community, who have the desire to innovate and create but lack experience, resources and connections in the development process.

Outstanding businesses are recognized through annual commendations.

To identify the situation and find solutions, at the end of December 2024, the Provincial Union of Science and Technology Associations in collaboration with the Young Entrepreneurs Association, the Business Association, the Provincial Investment Promotion and Enterprise Support Center organized a scientific workshop with the theme "Current situation, solutions to build and promote the role of young entrepreneurs in Ca Mau province in the new period". At the workshop, many solutions were proposed to support young entrepreneurs.

Mr. Quach Van An, Deputy Director of the Department of Science and Technology, shared that supporting the development of young entrepreneurs is one of the province's priorities. The province has implemented many programs to support businesses, especially in the fields of intellectual property, scientific research and start-up support. However, young entrepreneurs in Ca Mau still have many limitations in understanding technology and applying it to production. They need to further improve their ability to connect and cooperate to build a stronger product value chain.

Provincial and central support programs play an important role, but young entrepreneurs need to be more proactive in exploiting these opportunities. At the same time, they also need to improve their management skills, apply technology and seek strategic partners to expand their scale, improve product quality and increase business efficiency.

Mr. Mai Huu Chinh, Chairman of the Provincial Union of Science and Technology Associations, acknowledged: "The size of Ca Mau province is too small compared to the whole country, the level of development is very low. This is an issue that the business community should pay attention to. In the new era, Ca Mau province will become a fairly developed province in the Mekong Delta region. How can Ca Mau province develop? This mainly depends on the business community and enterprises".

According to Mr. Mai Huu Chinh, the young business community is the key for Ca Mau to develop more strongly in the future. The government has clearly identified that moving from the era of innovation to the era of growth, all policies are to be liberalized for businesses to develop, when there are problems, businesses should directly share so that the provincial leaders can promptly support them.

Young entrepreneurs often connect with each other and support each other to develop. (In the photo: Enterprises display and introduce each other's products at the 2024 year-end conference and Business Connection Forum organized by the Ca Mau Business Club).

Ms. Vu Hong Nhu Yen, Head of the Economic - Budget Committee, Provincial People's Council, acknowledged that young entrepreneurs in the province have not innovated or created much, only spontaneously on a small scale, so their operations are unstable, subject to many risks; with little experience, they will face many difficulties and challenges. Besides, in terms of resources and capital, businesses are still "swimming on their own", there is no fund to support businesses, there is no support from State resources, as well as other organizations. Regarding start-up support, the provincial budget in 2025 is only nearly 3 billion VND. Regarding the application of information technology, the support source is also not much.

Therefore, Ms. Yen recommends that the Young Entrepreneurs Association, during its operation, should have a program to support entrepreneurs in training business skills, development skills, finance, and technology.

According to Ms. Ho Le Quyen, Deputy Director of VNPT Ca Mau, President of the Provincial Young Entrepreneurs Association, the current team of young entrepreneurs is very dynamic, creative and constantly starting up businesses. They are always ready to test new ideas and apply technology to optimize business operations. However, young entrepreneurs still face many difficulties, such as lack of investment capital, lack of management experience, difficulties in building brands and developing product consumption markets.

"In addition, young businesses also face fierce competition from large enterprises, as well as risks in maintaining and expanding production. However, with the support of organizations inside and outside the province, young entrepreneurs can overcome these challenges and create new developments for their businesses," Ms. Ho Le Quyen shared.

In the current context, the role of young entrepreneurs in Ca Mau province is more important than ever. They are not only aspiring entrepreneurs but also pioneers in innovation, brand building and enhancing the value of the province's products. However, to develop sustainably, young entrepreneurs need to make the most of support opportunities from provincial policies and central organizations, while improving their ability to connect, cooperate and apply technology in production and management. With the support of authorities and the business community, young entrepreneurs will be important factors, contributing to promoting Ca Mau's strong development in the future./.

Hong Phuong

Source: https://baocamau.vn/doanh-nhan-tre-thach-thuc-va-co-hoi-a36732.html