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The entrepreneurial spirit is alive and well in Vietnam, with its youthful population, a growing middle class, and the strong work ethic of its people. But entrepreneurship is a challenging journey, no matter where you are in the world.
In Vietnam, the road to entrepreneurial success can be especially tough. From navigating complex regulations and securing funding to connecting with and growing a network, entrepreneurs in Vietnam face a unique set of challenges as they build their businesses:
Access to capital: Securing funding for a new business can be elusive, particularly for startups. In addition, are you familiar with the financial metrics entrepreneurs must know?
Complex regulatory and tax environment: How will your company comply without experience or experts on staff?
Talent shortage: Skilled employees are hard to find. What is your strategy for hiring the ideal team amid post-pandemic Quiet Quitting?
Increasing competition: How will you differentiate your company and its products to rise above ambitious competitors?
Establishing a network: Language barriers, cultural differences, and a disorganized startup ecosystem can make networking in Vietnam seem impossible. Where will you find like-minded entrepreneurs that you can trust?
Leverage support organizations
Vietnam has multiple support organizations to help entrepreneurs navigate these complex issues and create sustained business growth. These organizations include:
The Vietnam Chamber of Commerce and Industry (VCCI) represents the interests of entrepreneurs and promotes economic development. VCCI provides business support services and can help provide the tools to start a business in this dynamic market.
The Vietnam Angel Network (VAN) provides funding, mentorship, and networking opportunities for early-stage startups. VAN connects entrepreneurs with experienced investors and industry experts who can offer guidance.
The Saigon Innovation Hub (SIHUB) is… Read More
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