Vietnam’s small and medium-sized enterprises (SMEs) play a vital role in the country’s economy, accounting for 40% of the country’s GDP and employing 51% of the workforce. However, a recent survey by Epson shows that cost is the main reason why 62% of SMEs in Vietnam do not adopt innovative technologies. This can limit their competitiveness in both regional and global markets.
Here are some key takeaways:
- SMEs vital to Vietnam’s economy (40% GDP, 51% workforce)
- Cost hinders adoption of innovative tech by 62% of SMEs
- Need for sustainable business and tech adoption to enhance competitiveness and improve efficiency, brand value, growth, and stakeholder relations.
The Need for Sustainable Business Practices and Technology Adoption in SMEs
Business experts believe that it is crucial for SMEs to build sustainable businesses that can adapt to changes easily. This not only means considering the environment but also the operations of the business. Adopting innovative technologies can bring benefits to SMEs, such as increased efficiency, improved brand value, growth, and better stakeholder relations.
The Importance of SMEs in Vietnam’s Economy
As companies become more conscious of their impact on the environment and society, sustainable business practices are becoming more important. SMEs need the right tools and support to participate in the emerging digital economy and succeed in today’s competitive market.
In conclusion, for SMEs in Vietnam to thrive, they must leverage innovative technologies and adopt sustainable business practices. This will not only enhance their competitiveness but also positively impact their efficiency, brand value, growth, and stakeholder relations.