What barriers are "holding back" private enterprises in Ha Tinh?

(Baohatinh.vn) - In 9 months, Ha Tinh has had more than 800 businesses temporarily suspend operations or dissolve, showing that there are still limitations in internal capacity that businesses have not been able to overcome...

In the first 9 months of 2025, the whole province had 587 enterprises registered to temporarily suspend business (up 13% over the same period in 2024) and 219 enterprises voluntarily dissolved (up 36% over the same period).

Ha Tinh currently has more than 13,000 enterprises and affiliated units, but only about 10,562 units are actually operating in the economy . Notably, a large number of these units are still operating inefficiently. This reality shows that establishing a business is not difficult, but to operate stably, develop substantially, effectively and sustainably is a "difficult problem".

Bao An HT Service Company Limited hoped to form a production and consumption chain for organic rice on the field of bloodworms in Ha Tinh but failed (illustrative photo).

The story of Bao An HT Service Company Limited (Duc Quang commune) is a clear demonstration of the difficulties of many small and micro-sized enterprises in Ha Tinh today.

Established in 2018 with the expectation of forming a production and consumption chain of organic rice on the field of bloodworms, the enterprise once set the goal of making Ha Tinh organic rice a key commodity product. However, the results were not as expected.

Despite being a business, Bao An HT Service Company Limited still operates in the “traditional” way of a family business, with a charter capital of only 500 million VND, the workforce is mainly elderly people in rural areas, lacks a production and business strategy and cannot build a chain of links. The products do not have a stable output, the revenue is uncertain, and the funding is not enough to compensate, forcing the business to “withdraw from the game”.

Similarly, Ha Tinh Hot Asphalt Concrete Company Limited (Phu Viet Commune) also went bankrupt after a short period of operation. Mr. Le Ngoc Khoa - the former owner of this business said: "The company was established in 2023 with the goal of supplying hot asphalt concrete and commercial concrete to the market inside and outside the province. However, limited resources, insufficient investment in advanced production technology, insufficient capacity to access land policies, lack of production space... made it impossible for us to survive."

Lack of capital is a "difficult problem" for many construction businesses today.

Not only manufacturing and service enterprises, many construction enterprises in Ha Tinh have also "stopped playing" one after another due to lack of competitiveness.

Ms. NTH (Cam Xuyen commune) - a former owner of a construction business said: The construction industry requires a large amount of capital, while the registered capital of the unit is only 2 billion VND, the collateral is limited so it is almost impossible to borrow from the bank. Lack of capital, not meeting the financial requirements of partners, contracts are gradually decreasing, operations are not enough to cover operating costs and salaries, the business is forced to stop.

Through analysis from the professional sector, the difficulties of private enterprises in Ha Tinh are similar to those of many other localities across the country. Accordingly, the main barriers that the private enterprise sector in Ha Tinh is facing include: lack of capital and difficulty in accessing credit because most of them are small and micro enterprises, limited collateral while the requirements from banks are high; narrow product consumption market due to lack of distribution network, dependence on traditional output. In addition, many enterprises face difficulties in land funds, production premises to serve production and business investment; difficulties in participating in linkage chains, value chains due to fragmented operations, lack of cooperation...

In general, the difficulties that private enterprises face mainly come from the internal capacity of the enterprise. Most of the enterprises that have temporarily suspended operations or dissolved in recent times are small in scale; have thin resources; limited corporate governance capacity; lack long-term business strategies; depend on personal experience rather than a professional management system...

In addition, objective factors also put great pressure on private enterprises. In recent times, the world economy has recovered slowly, inflation has increased, monetary policy has tightened, epidemics and climate change have disrupted supply chains, pushing up input costs. While selling prices are "anchored" by market competition, many businesses are in a difficult situation. Moreover, some overlapping regulations are also the reason why businesses lose the opportunity to access support policies...

Outstanding corporate debt of Ha Tinh Banking sector currently reaches over 33,690 billion VND.

Mr. Nguyen Tien Trinh - Vice Chairman of the Provincial Business Association said: "In order for the private enterprise sector to operate substantially and effectively, contributing positively to the economy, it is necessary to change the thinking and actions of the enterprises themselves. Accordingly, enterprises must strive to innovate, proactively and flexibly adapt to the market economy, effectively mobilize investment resources for production and business, apply technology, digital transformation, and take advantage of opportunities to improve their operations domestically and internationally.

In addition to the efforts of enterprises themselves, there needs to be more drastic support from all levels and sectors in continuing to promote administrative procedure reform in a way that is favorable for business operations and avoids overlapping regulations. Supporting private enterprises in accessing credit capital, enjoying policies on land, tax, science and technology, etc., creating momentum for business development."

Ha Tinh continues to promote administrative procedure reform, creating favorable conditions for private enterprises to operate.

Regarding the state management agency, Mr. Nguyen Duc Thang - Deputy Director of the Department of Finance said: In the coming time, the unit will continue to focus on reviewing and advising competent authorities to study and simplify administrative procedures; actively advise on improving the provincial competitiveness index through solutions to improve the quality of management. The Department of Finance is actively coordinating with departments and branches to integrate the content of private economic development into the province's socio-economic development plan as well as allocating resources to support small and medium enterprises, especially those operating in the fields of digital transformation, innovation and start-ups. The goal is not only to create conditions for businesses to be established easily but also to support businesses to develop sustainably, creating long-term value for the community.

For the private sector in Ha Tinh to develop sustainably, not only does it need an open business environment, but it also requires businesses to innovate strongly. When internal and external forces resonate together, the private economic sector can become a real driving force for the province’s growth.

Source: https://baohatinh.vn/rao-can-nao-dang-kim-chan-doanh-nghiep-tu-nhan-ha-tinh-post298337.html