Việt Nam’s small businesses become more internationally focused

Việt Nam’s small businesses become more internationally focused

Việt Nam’s small businesses are becoming more internationally focused, according to an annual small business survey released by CPA Australia, one of the largest professional accounting bodies in the world.

A representative of CPA Australia at a media meeting introducing the annual small business survey.  VNS Photo Thu Ngân

The survey, conducted by CPA, which included over 300 businesses with fewer than 20 employees, reports that in 2025, 28 per cent anticipate a strong improvement in overseas sales, up from 15 per cent in 2024.

This signals growing confidence in their ability to compete globally despite global uncertainty, the report said.

Vietnamese small businesses also reported a successful 2024, with 82 per cent reporting growth, up from 77 per cent in 2023, the country’s highest result since 2019.

This momentum is expected to accelerate in 2025, with 92 per cent of small businesses experiencing grow, the highest projection among 11 markets surveyed.

Confidence in Việt Nam’s economy is equally strong, with 93 per cent of small businesses expecting economic growth in 2025, well above the Asia-Pacific survey average of 67 per cent, and the highest result among all surveyed markets.

CEO of CPA Australia Chris Freeland attributes this optimism to the country’s young, tech-savvy and entrepreneurial small business community.

“Việt Nam’s small business sector is driven by dynamic and youthful entrepreneurs that embrace technology and innovation. Their ability to adapt quickly and invest in digital solutions is positioning them as regional leaders,” Freeland said.

Freeland provided examples, noting that Việt Nam’s small businesses rank at or near the top in the Asia-Pacific accross all indicators of tech adoption, including e-commerce, social media use, digital payment options, and consulting IT specialists.

Easier access to funding has also fueled growth, with 80 per cent of Vietnamese small businesses seeking external financing in 2024, up from 73 per cent in 2023.

Technology-driven investments continue to give strong and quick returns, with 88 per cent of small businesses reporting their investment in technology last year improved their profitability. Notably, AI investment among Việt Nam’s small businesses doubled in 2024 to 44 per cent, up from 2023, with nearly half using AI for business advice.

“Việt Nam’s small businesses are increasingly willing to experiment and integrate technologies like AI into their operations,” Freeland said. “While most other markets appear to be taking a more cautious approach, Việt Nam’s small businesses are leading the way in AI investment.”

Despite their success, Vietnamese small businesses continue to face significant cyber threats. In 2024, 60 per cent reported losing time or money due to a cyberattack, well above the survey average of 40 per cent.

Cybersecurity risks are expected to persist this year, with 68 per cent anticipating cyber attacks, the highest among surveyed markets. This underscores the need for stronger cybersecurity practices.

“With Việt Nam’s widespread use of technology, cybersecurity must be a top priority for small businesses. Proactively strengthening cybersecurity practices is essential for safeguarding their growth and maintaining customer trust,” Freeland said.

As Việt Nam’s small businesses continue to integrate technology into their businesses, ensuring robust cybersecurity will be key to sustaining their success.

CPA Australia is one of the largest professional accounting bodies in the world, with nearly 170,000 members in over 100 countries and regions, including more than 21,000 members in Southeast Asia. 

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