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Recently, in Hanoi, F88 Business Joint Stock Company in collaboration with Dan Tri Newspaper organized a seminar "Overcoming capital and knowledge barriers, female-owned businesses take off". The seminar had the participation of guests including Ms. Le Hang - Master of Management and Marketing, Founder of GymHaus Boutique Fitness system; Ms. Nguyen Hoai - Founder of Banh Chung Nuong Bac brand, Ms. Le Quynh Trang - Director of F88 brand communications.
When women start a business
Here, the guests shared practical lessons, startup ideas, and marketing advertising processes. In addition, the seminar also provided advice on knowledge, ways to mobilize and use capital, control cash flow management, and business development for Vietnamese women who want to start a business with small projects. At the beginning of the seminar, the guests told stories about their initial problems with "business capital".
Having worked in banking for 10 years, Ms. Le Hang understands personal credit very well as she often makes credit cards for customers. However, when deciding to start a business, she chose not to borrow from the bank but instead borrowed a small amount of money from her husband, because she thought that if the business failed, it would not "go out of business".
Unlike Ms. Hang, the founder of the Nuong Bac Banh Chung brand encountered many obstacles when borrowing capital because at that time she did not have much knowledge and was still afraid of borrowing.
“I feel very sorry that I did not borrow capital when I started my business, even though everyone needs this source of capital when starting out. I think many women here have the same invisible fear as me, fear of being cheated, fear of not being able to pay back. That fear was so great that I did not dare to borrow, and therefore, my business opportunities were slower, when I had little capital and had to manage it.
Regarding loans, Ms. Le Quynh Trang - F88 Brand Communications Director also shared: “Vietnamese women always want to have cheap capital, low interest rates to be able to easily repay debts, because they often worry about the future. Therefore, they choose safe, reputable and trustworthy sources such as relatives, friends or some non-governmental lending funds. However, besides being easy to borrow, this source of capital is very limited, so to find this source, special conditions are also needed.
Banks are the second priority source because they are a formal chain system with moderate interest rates. However, to borrow from a bank, you must meet strict requirements for loan applications, with items proving personal identity, financial capacity, loan goals and repayment ability.
So many different forms of loans have appeared on the market. Each form has its own advantages and disadvantages, the easier it is to borrow, the higher the risk. Women need to learn about each loan source, see which source meets their needs, and then make appropriate choices.
To know if it is a reputable unit, customers need to find out whether the business model is in accordance with the law, the business registration license of the lending unit, public information on social networks or business location (business units with business locations are often more reputable than online units) and especially official press sources, relatives around them.
Having a steady flow of capital is considered a decisive priority for scaling and sustaining a business. However, the difficulty in borrowing capital is greatly affected in the general context. Consider researching and proactively accessing different sources of capital with appropriate interest rates to improve the efficiency of capital access.
Business Startup Support
According to the White Book on Women-Owned Small and Medium Enterprises published by the Asian Development Bank (ADB) in collaboration with the Ministry of Planning and Investment in 2024, 20% of SMEs in Vietnam are owned by women.
According to the Central Institute for Economic Management (CIEM), the rate of women-owned enterprises in Vietnam is ranked high in Southeast Asia. Notably, 51% of Vietnamese enterprises currently have women in their ownership structure, much higher than in other countries.
Women entrepreneurs have strengths in terms of perseverance in the face of difficulties, care for their employees, and make significant contributions to the economy and promote gender equality in society, but they also face many difficulties and challenges in terms of resources and competitiveness. Not only that, female entrepreneurs must simultaneously bear dual responsibilities and social prejudices about the role of women in business.
Particularly for disadvantaged women starting small and micro-business models, households such as cafes, restaurants, fashion stores, online businesses, etc., the two biggest barriers are the level of business management capacity and access to capital, information, and technology. These barriers make it difficult for them to develop, expand, and take off.
In order to support women, especially disadvantaged women, Ms. Trang said that F88 launched loan packages to support women starting businesses on March 8; the "Green Dream" program,... The beneficiaries are women who have no income and want to do business to improve their lives.
"Currently, understanding the needs of F88 customers, especially women doing micro-businesses, quickly, to meet the need for capital turnover, F88 also designs loan packages for self-employed women with good preferential fees.
We want to explore how these quick sources of capital can support the market. F88 aims to provide loans secured by vehicles, vehicle documents or business location documents. Customers in need can go to F88's business locations for detailed advice," Ms. Trang informed.
Through lending activities, many disadvantaged women have been able to access and know how to manage and use loans for the right purposes, and are bold in their thinking and actions. This has a strong and practical impact on poverty reduction, job creation for women and ensuring social security. In fact, more and more women are starting successful businesses in diverse fields. Experts say that if they have passion, will and creative business thinking, women should boldly embark on starting a business .
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