Many positive signals about Vietnamese small businesses in CPA Australia survey

On March 21 in Ho Chi Minh City, CPA Australia held a press conference to announce the Asia-Pacific Small Business Survey Report, after surveying businesses in 11 countries, including Vietnam. This survey has been conducted annually for the past 16 years and this is the first year CPA Australia has announced it in Vietnam.

CPA Australia Press Conference to Release Asia-Pacific Small Business Survey Report

Specifically, a survey conducted by CPA Australia with more than 300 small businesses in Vietnam showed that in 2024, 82% of businesses participating in the survey recorded growth - an increase compared to 77% in 2023 - the highest level since 2019.

CPA Australia predicts that this growth trend will continue in 2025, Vietnamese small businesses have the most development prospects in the Asia-Pacific region, leading in investment in artificial intelligence (AI) and will continue to have demand for human resources.

According to Mr. Chris Freeland - General Director of CPA Australia, the growth of Vietnamese small businesses comes from a young, tech-savvy workforce with a strong entrepreneurial spirit. Vietnamese small businesses are ready to experiment and integrate AI into their business operations.

Results of one item of the survey

The report also shows that by 2024, up to 80% of small businesses surveyed will raise capital to expand operations, 88% will improve profits from technology investments...

However, up to 60% of businesses said they lost time and money to cyber attacks and 68% were concerned about becoming the target of cyber attacks this year (the highest among the markets surveyed).

Through a survey report, CPA Australia assessed that the biggest barriers to the growth of small businesses in Vietnam are increasing competition and costs, especially transportation, storage, and staff costs.

Mr. Nam Nguyen - Chairman of Southern Regional Strategic Advisory Board, CPA Australia

To improve the competitiveness of enterprises, Mr. Nam Nguyen - Chairman of the Southern Strategic Advisory Board, CPA Australia recommends: "Vietnamese small enterprises should focus on promoting their brands and corporate governance. Because branding not only makes the market, consumers, and customers know about them, but also investors and partners know about them. And when international investors and partners want to cooperate in business, the first thing they care about is corporate governance."