Vietnamese businesses are on the way to recovery after the pandemic

Vietnamese small and medium enterprises have shown many signs of improvement

According to Meta’s 2022 State of Small Business Report, the Omicron wave has caused many difficulties for small and medium-sized enterprises (SMEs) in Vietnam, when 75% of SMEs use it. Facebook says it is maintaining operations or has revenue-generating activities, down 5% from September 2021.

However, the data shows that the situation has shown signs of improvement, as 23% of SMEs in Vietnam operating on Facebook recorded a 6% increase in sales compared to the same period last year.

Concerns about cash flow as well as market demand have also improved somewhat compared to 6 months ago. Currently, 32% of SMEs active on Facebook say they may face cash flow-related challenges, and 42% are concerned about a drop in demand or lack of customers over the next few months. both are down about a third from the figures recorded in September.

Thanks to the improvement in business, the number of SMEs having to cut staff decreased by 9% compared to September 2021, to 44%. In addition, up to 55% of businesses are confident in their ability to maintain operations for at least the next 12 months, if the current situation continues, nearly double the survey in September 2021.

Up to 59% of SMEs said that sales from online sales in the past time accounted for at least 25% of total revenue, up 13% compared to the report in September last year.

In addition to the efforts of Vietnamese SMEs to overcome difficulties, the significant improvement in business situation and economic recovery in Vietnam has been achieved through the cooperation of the management agencies.

SMEs active on Facebook say they have received financial support in the form of cash grants or loans from a government source since the start of the COVID-19 pandemic, demonstrating the Government’s efforts in accompanying and encouraging the business community to overcome difficulties caused by the pandemic and recover stronger in the future.

Mixed operation is the working trend of the future

The survey also shows that SMEs are increasingly moving towards returning to the physical space while maintaining operations in the digital space.

The majority of SMEs (about 69%), intend to operate on both digital and physical platforms in parallel. Similarly, 40% of SMEs expect mixed operations to be necessary in the future.

Many small and medium enterprises plan to operate on both digital and physical platforms in parallel

According to Meta’s 2022 State of Small Business Report, a survey of nearly 24,000 small and medium-sized business (SMEs) owners across 30 countries and territories, conducted in January 2022. , 20% of businesses globally have closed, 3% higher than July 2021.

This increase is small compared to the fluctuations recorded previously, since Meta began surveying global SMEs in 2020. This number also reflects the impact of the Omicron wave in the region.

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