Mr. Luong Minh Huan, VCCI representative talked about starting a business. Photo: P.M.

Talking about the topic of “Getting Started and Managing Financial Issues of Startup Enterprises” on October 3 in Hanoi, leading to the GEM 2014 Global Startup Metrics Luong Minh Huan, Institute for Enterprise Development, Vietnam Chamber of Commerce and Industry (VCCI) said that in 2014, the fear of failure of the Vietnamese business community tended to decrease more than With 2013, but still at 50%, higher than many countries in the region.

However, the rate of business abandonment in the Vietnamese people is lower than in other countries, which in fact shows that the ability of Vietnamese businesses to stay is better (about 100 business people, only about 23 people left with Personal reasons, family reasons, financial problems, some of which are due to profitability, others because of other business opportunities).
At present, start-up enterprises in many fields in Vietnam are having favorable conditions thanks to the development of Internet and IT infrastructure, with a scale from 1 to 5, Internet infrastructure, Rated good with 3.75 points). The biggest difficulty of start-up businesses is the lack of access to many channels of capital mobilization, mainly based on self-funded sources, loans from relatives …

Regarding this issue, discussion at the seminar, Financial Officer Mai Vu Thao from the Investment Department, Viet A Bank noted that start-up businesses do not expect the newly created can call for the cap The capital was not named.

Therefore, Thao’s experience should be small, considering the possibility of “riding on the shoulders of giants” (for example, taking part in some stage of big firms instead of investing total).

Besides, he also recommended that many start-up businesses are too costly to cover such issues as renting office space, workshops, shopping facilities …
The rent of office space, large workshop, deposit up to 6 months, or buy a car to trade … easily lead to the end of the enterprise quickly capital shortly after launch industry. Therefore, investment costs need to depend on the business sector, financial capacity, and appropriate phases, “Thao noted, while emphasizing at the small stage should be limited to dark Most of the costs, select the location of the office, the workshop is just right, preferential loans than equity contribution (although bank loans have to pay interest, but startup can be proactive in terms of profits from economic efficiency The business of the business, not the shareholders dominant in turnover, profit as when mobilizing capital contribution).
“There are people who succeed because of luck, but startup business is not illusory,” expert Mai Vu Thao stressed.
According to experts, to support the Vietnamese startup community, reducing the fear of failure of this community, the state needs to improve business conditions; Build and perfect startup support and business development programs. In addition, it is necessary to carry out the program of popularizing knowledge and skills of business start-ups for individuals, especially young people.