Vietnamese small businesses lead the region in investing in AI

Enterprises producing coffee products for export in Long An - Photo: NGOC HIEN

According to the annual survey of CPA Australia (Certified Public Accountants Australia), up to 82% of businesses participating in the survey (more than 300 businesses) recorded growth, up from 77% in 2023.

This is the highest level since 2019 according to the unit's annual survey of small businesses.

Revenue from foreign markets increased

This growth trend is forecast to continue in 2025, with 92% of small businesses expecting to expand operations, the highest rate among the 11 countries surveyed.

According to CPA Australia, Vietnam's economic growth expectations are also strong, with 93% of small businesses forecasting economic growth in 2025, much higher than the Asia-Pacific average of 67% and the highest among the markets surveyed.

CPA Australia says small businesses in Vietnam are focusing more on international markets.

It is expected that in 2025, revenue from foreign markets will improve strongly to 28%, up from 15% in 2024.

This move demonstrates the strong growth of Vietnamese small businesses boosting global competitiveness in the face of global economic uncertainties.

Mr. Chris Freeland - General Director of CPA Australia - said that the positive growth comes from the small business community in Vietnam as these businesses have a young workforce, are knowledgeable about technology and have a strong entrepreneurial spirit.

The Power of Small Business

According to Mr. Chris Freeland, the ability of small businesses in Vietnam to adapt quickly and invest in digital solutions is an advantage that helps them rise to the top of the region.

“Small businesses in Vietnam are at or among the top in the Asia-Pacific region in all indicators of technology adoption, including e-commerce, social media usage, digital payment methods and seeking advice from IT experts,” he said.

Investments in technology continue to pay off quickly and heavily, with 88% of small businesses improving their bottom line over the past year due to technology investments.

Notably, the rate of small businesses in Vietnam investing in artificial intelligence (AI) in 2024 will double compared to 2023, reaching 44%, with nearly half of businesses applying AI for business consulting.

“Small businesses in Vietnam are ready to experiment and integrate technology like AI into their business operations,” said Chris Freeland.

Vietnamese businesses lose time and money from cyber attacks

Small businesses in Vietnam are facing cybersecurity issues as 60% of surveyed businesses reported losing time or costs due to cyber attacks in 2024, significantly higher than the survey average of 40%.

According to the survey, 68% of businesses are concerned about becoming the target of attack, this is the highest rate among the markets surveyed.

"Given the widespread adoption of technology in Vietnam, cybersecurity needs to be a top priority for small businesses. Proactively enhancing security measures is essential to protect growth and maintain customer trust," Mr. Freeland emphasized.

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