Innovation gives small businesses confidence.

The survey indicates that small businesses in Vietnam are confident in their growth thanks to aggressive innovation and creativity.

A survey indicates that 86% of businesses predict they will experience rapid growth thanks to the strong economic growth rate.

As many as 77% of small businesses in Vietnam recorded growth in 2023, lower than only 2 out of 11 markets participating in the "Small Businesses in Asia-Pacific" survey.

Mr. Nam Nguyen FCPA - Chairman of the Southern Vietnam Regional Strategic Advisory Board of CPA Australia - stated that over 90% of Vietnamese small businesses are confident in the domestic economy and have high growth expectations. He further explained that this is partly due to a focus on innovation, which has contributed to the long-term development and enhanced competitiveness of these businesses.

Many small businesses share similar characteristics with high-growth businesses, such as access to and application of advanced technology, a focus on improving management capabilities and business strategies, and a spirit of innovation.

Some small businesses have the potential to become large, global corporations in the next few years, and access to effective funding can help fuel their growth.

According to Mr. Nam, another factor contributing to this success is that the average age of business owners or CEOs in small businesses in our country is the youngest in the region, with 65% of leaders under 40 years old compared to the regional average of 43%.

The data also shows that this group of young leaders often runs businesses that are on an upward trajectory, focusing on investing in technology and innovation.

Furthermore, the survey revealed that the majority of small businesses have strengthened their security capabilities in the past six months. This indicates that enhancing cybersecurity is more necessary than ever.

In fact, in 2023, 64% of small businesses in Vietnam "wasted time and money" dealing with network incidents, and 70% of businesses are predicted to experience more cyberattacks this year.

"Small businesses should proactively implement security measures to prevent damage from cybersecurity threats, as these can seriously impact profits, customer trust, and employee morale," advised Mr. Nam Nguyen of FCPA.

CPA Australia is considered one of the world's largest accounting associations, currently boasting over 170,000 members in more than 100 countries and regions, including over 21,000 members in Southeast Asia.

Having started operations in Vietnam in 2008, CPA Australia has two main offices located in Hanoi and Ho Chi Minh City, providing core services in education , training, professional support, and policy advice.

tuoitre.vn

Source: https://baolaocai.vn/doi-moi-sang-tao-giup-doanh-nghiep-nho-tu-tin-post384844.html