THE CPA AUSTRALIA
ASIA-PACIFIC
SMALL BUSINESS
SURVEY 2015
VIETNAM REPORT
2 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
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3 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
OVERVIEW
CPA Australia Asia-Pacific Small Business Survey 2015 is the sixth in a series of annual reports measuring small
business confidence, the drivers of confidence, technology uptake and access to finance by small businesses. The
data is compared across the eight economies included in this survey and over time.
In total, 2932 participants completed the survey, including 510 from Australia, 610 from Mainland China, 265 from
Hong Kong, 306 from Indonesia, 310 from Malaysia, 311 from New Zealand, 310 from Singapore and 310 from
Vietnam.
The online survey was conducted with a random sample of small business owners/managers between 24
September and 14 October 2015. The sample was obtained through panel providers. To qualify for the survey,
participants were required to be an owner, a senior manager (defined as being a director, a principal, a CEO, a
CFO, a senior manager or a managing director) or a qualified accountant of a business with fewer than 20
employees.
4 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
SUMMARY OF VIETNAM RESULTS
Vietnam’s small businesses are growing strongly and have a strong focus on digital
technologies.
CPA Australia’s Asia-Pacific Small Business Survey reveals that Vietnam’s small businesses have a strong focus
on innovation, e-commerce, exporting, social media and improving business management.
This focus is flowing through to business growth, with the number of small businesses from Vietnam that reported
growing in the past 12 months at 89.0 per cent, a rise of 24.8 percentage points from the last survey. This strong
growth sentiment is expected to continue in 2016, with 93.6 per cent expecting to grow in the next 12 months (well
above the survey average of 70.7 per cent).
In fact, small businesses in Vietnam are among the most confident in the region, with more small businesses in
Vietnam reporting growing in the past 12 months than the survey average (68.2 per cent), China (77.4 per cent),
Malaysia (69.0 per cent) and Singapore (58.7 per cent).
With Vietnam’s economy being impacted by a variety of factors, including slowing growth in China (which remains
very strong, however), and weak recoveries in the economies of the US, Japan and the euro area, the increase in
the number of small businesses that reported growing in the past 12 months shows the resilience of Vietnam’s
small business sector.
Such resilience and their focus on innovation, e-commerce and improving business management should mean
Vietnam’s small businesses are well placed to take advantage of emerging opportunities such as strengthening US
economy.
This strong growth is translating through to the sector being a large creator of new jobs, with 48.1 per cent of
Vietnam’s small business respondents increasing employee numbers in the past 12 months.
The survey results clearly demonstrate that there are good reasons to be confident in Vietnam’s small business
sector with Vietnam’s small businesses being more likely than the survey average to expect to undertake
innovation in the next 12 months through the definite introduction of a new product, service or process that is
unique to Vietnam or the world (26.1 per cent of Vietnamese small businesses compared with the survey average
of 22.0 per cent).
Innovation is not the only focus for Vietnam’s small businesses, which are also more likely than most to be:
 using social media for business purposes (96.5 per cent of Vietnam’s small businesses compared with the
survey average of 81.4 per cent)
 growing their e-commerce presence (33.5 per cent of Vietnam’s small businesses expect to grow their ecommerce presence to a large extent in the next 12 months, just above the survey average of 32.2 per cent)
 generating revenue from online sales (85.1 per cent of Vietnam’s small businesses earn at least some revenue
from online sales compared with the survey average of 68.9 per cent)
 improving business management (41.0 per cent of Vietnam’s small businesses reported that improved business
management had had a major positive impact on their business in the past 12 months, the highest percentage
of all markets surveyed).
This strong focus on innovation, e-commerce and improving business management means that Vietnam’s small
businesses are in a good position to outcompete their less nimble and tech-savvy competitors and remain
competitive against rivals from fast-growing neighbouring economies.
5 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
With the implementation of innovation policies such as the establishment of the National Agency for Technology
Entrepreneurship and Commercialisation and the National Innovation Technology Fund, this should further
inculcate a culture of innovation and entrepreneurship amongst Vietnam’s small businesses. Such a culture is
fundamental to Vietnam’s future prosperity.
With the survey results demonstrating that small businesses that are innovating are more likely to be growing and
creating jobs, this is clearly the right policy approach.
Vietnam’s small businesses are not only growing strongly and creating jobs – they are leading small businesses
from many other nations in the region in preparing for the future.
Other results from the survey:
ASEAN Economic Community
 A large majority of Vietnam’s small businesses (80.7 per cent) expect that the creation of the ASEAN Economic
Community will have a positive impact on their business.
Demographics
 Respondents from Vietnam were the most likely to be under 40 (79.7 per cent) with their business established
for 10 years or less (80.7 per cent).
 There is a strong correlation between younger business owners and those businesses that expect to grow, sell
online, use social media for business purposes, and innovate through the introduction of new products,
processes or services.
Access to finance
 Access to finance remained difficult for the vast majority of businesses that required external finance (only 29.7
per cent found access to finance easy or very easy, the worst reading of the markets surveyed).
 Despite difficult financing conditions, banks are by far the most important funding source for Vietnam’s small
businesses.
 Funding business growth remains the most important reason for accessing external finance.
6 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
MAJOR FINDINGS FOR VIETNAM
Vietnam’s small businesses, with their reasonably strong focus on innovation, are
well placed to grow, create jobs and export in 2016 and beyond.
With small businesses with an e-commerce presence being more likely to
be growing and creating jobs, Vietnam’s strong focus on e-commerce is a
distinct competitive advantage for its businesses and the economy.
With small businesses that expect to grow revenue from exporting
being more likely to be growing and creating jobs, more Vietnamese
small businesses should consider having a stronger focus on
exporting.
With the survey results showing a strong connection between social
media use and business growth, the very strong uptake of social
media by Vietnam’s small businesses is a competitive advantage.
Reflecting strong business conditions, two-thirds of Vietnam’s small
businesses plan to increase their headcount in 2016.
Growth prospects for Vietnam’s small businesses in 2016 are the best out
of the markets surveyed.
The ASEAN Economic Community expected to have a positive influence on small
business across the ASEAN region.
7 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
KEY SURVEY FINDINGS FOR VIETNAM
INNOVATION
Vietnam’s small businesses, with their reasonably strong focus on innovation1, are well
placed to grow, create jobs and export in 2016 and beyond.
Small businesses that in the next 12 months will definitely introduce a new product, service or
process that is new to their market or the world2
Indonesia
45.8%
China
31.6%
Malaysia
29.0%
26.1%
Vietnam
Hong Kong
17.7%
Singapore
New Zealand
Australia
1
15.2%
6.8%
5.1%
Innovation, for the purpose of the survey, is taken to be the introduction of a new product, service or process that is unique to a market or the
world.
2
All data for China excludes Hong Kong, which is shown separately.
8 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
The relationship between innovation and jobs creation, business growth and exporting
Percentage that expect to
definitely introduce a
product, service or
process that is new to
their market or the world
EMPLOYEE NUMBERS
Expecting to increase employee numbers in the next 12 months
NOT expecting to increase employee numbers in the next 12 months
BUSINESS GROWTH
Expecting to grow their business in the next 12 months
NOT expecting to grow their business in the next 12 months
EXPORTING
Expecting revenue from overseas sales to grow strongly in the next 12 months
NOT expecting to grow their revenue from overseas sales in the next 12 months
9 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
With Vietnam’s small businesses being more likely than the survey average to definitely expect to innovate in the
next 12 months, small businesses from the nation are well placed to grow and outcompete their rivals from home
and elsewhere. To maintain this advantage, more Vietnamese small businesses should be looking to innovate.
With the survey results showing innovative businesses are significantly more likely to be growing, exporting and
creating jobs, it is easy to see why Vietnam’s government is focused on promoting innovation through policies such
as the establishment of the National Agency for Technology Entrepreneurship and Commercialisation and the
National Innovation Technology Fund. As a recent OECD paper on innovation stated, ‘in the long run, it is difficult
to imagine growth without innovation’.
The OECD estimates that innovation can contribute up to 50 per cent of economic growth depending on the
3
country, the level of economic development and the phase of the economic cycle . Such an estimate highlights why
Vietnam’s government is absolutely right to have innovation as an important policy focus.
Businesses are also more likely to definitely expect to undertake innovation in the next 12 months through the
introduction of a new product, service or process that is unique to their market or the world if they:
 have a business owner/manager aged under 40
 have between 5 and 19 staff
 are in the banking, finance and insurance sector, or the manufacturing sector.
KEY FINDING
Vietnam’s small businesses, with their reasonably strong focus on innovation, are well placed to grow, create
jobs and export in 2016 and beyond. We suggest that those Vietnamese small businesses that are not
innovating should consider making innovation a part of their business strategy.
3
OECD Innovation Strategy: An Agenda for Policy Action, OECD Publishing, Paris, 2015, p. 4
10 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
E-COMMERCE
With small businesses with an e-commerce presence being more likely to be growing
and creating jobs, Vietnam’s strong focus on e-commerce is a distinct competitive
advantage for its business and the economy.
Small businesses that generated revenue from online sales – by market4
Indonesia
93.8%
China
90.1%
Vietnam
85.1%
Hong Kong
80.4%
Malaysia
73.2%
Singapore
63.6%
New Zealand
37.0%
Australia
33.0%
Small businesses that intend to grow their e-commerce presence to a large extent in the next 12
months – by market5
Indonesia
86.3%
Hong Kong
42.6%
China
36.4%
Malaysia
35.2%
Vietnam
33.5%
Singapore
New Zealand
Australia
4
5
19.4%
9.6%
8.2%
All data for China excludes Hong Kong, which is shown separately.
All data for China excludes Hong Kong, which is shown separately.
11 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
The relationship between e-commerce and business growth, jobs creation and exporting
Percentage that expect to
grow their e-commerce
presence to a large
extent
BUSINESS GROWTH
Expecting to grow their business in the next 12 months
NOT expecting to grow their business in the next 12 months
EMPLOYEE NUMBERS
Expecting to increase employee numbers in the next 12 months
NOT expecting to increase employee numbers in the next 12 months
EXPORTING
Expecting revenue from overseas sales to grow strongly over the next 12 months
NOT expecting to sell into overseas markets in the next 12 months
12 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
Small businesses from Vietnam are among the leaders in generating revenue from online sales. This advantage is
likely to be maintained as a third of Vietnam’s small businesses expect to grow their e-commerce presence strongly
in the next 12 months.
With the survey results showing that small businesses that are selling online and seeking to grow their e-commerce
presence are significantly more likely to be growing and creating jobs, it is easy to see why many of Vietnam’s
small business have a strong focus on e-commerce.
The focus on e-commerce should also assist Vietnam’s small businesses reduce the impact that rent has on their
business, as it could allow them to reduce the floor space they need, particularly in high rental locations. It could
also allow them to better connect with customers, many of whom are becoming increasingly familiar with
purchasing goods and services online.
While online sales are not relevant for all businesses, when you combine the results that show a strong connection
between e-commerce and growth, and growing digital penetration and literacy of customers, it suggests it would be
wise for all businesses to investigate establishing and growing their e-commerce presence.
Small businesses are also more likely to earn income from online sales where:




they have between 5 and 19 staff
the business has been established for less than 21 years
the respondent is aged under 40
the business is in the manufacturing sector.
KEY FINDING
The strong focus by many of Vietnam’s small businesses on e-commerce is a key competitive advantage for
those businesses and the economy. It should also allow many of Vietnam’s small businesses to better control
rent costs and connect with customers.
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SMALL BUSINESS AND EXPORTING
With small businesses that expect to grow revenue from exporting being more likely to
be growing and creating jobs, more Vietnamese small businesses should consider
having a stronger focus on exporting.
Small businesses expecting revenue from overseas sales to grow in the next 12 months – by
market6
Indonesia
China
57.8%
15.7%
Vietnam
Singapore
Malaysia
46.1%
19.7%
Hong Kong
40.6%
22.3%
17.7%
15.7%
New Zealand
7.1%
Australia
6.1%
24.2%
32.8%
15.7%
15.7%
16.4%
13.3%
Grow strongly
6
All data for China excludes Hong Kong, which is shown separately.
Grow a little
14 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
The relationship between exporting, and jobs creation and business growth
Percentage that expect
their revenue from
exporting to grow
strongly
EMPLOYEE NUMBERS
Expecting to increase employee numbers in the next 12 months
NOT expecting to increase employee numbers in the next 12 months
BUSINESS GROWTH
Expecting to grow their business in the next 12 months
NOT expecting to grow their business in the next 12 months
Vietnam’s small businesses are the third most likely of the markets surveyed to expect to grow their revenue from
exporting in the next 12 months, and the third most likely to expect revenue from exports to grow strongly over the
coming 12 months. Given the weak environment in a number of key export markets including the US, China, the
euro area and Japan, this is a good result.
With the survey results showing that small businesses that are exporting are more likely to be growing and creating
jobs, this export focus is a competitive advantage for Vietnam’s small businesses and the broader economy.
However, the advantage could be greater if more businesses had a focus on growing revenue from exports
strongly.
While an export focus does come with risks, including foreign exchange risks and the potential for downturns in key
markets, the advantages of exporting over focusing on the domestic market are significant. A focus on the
domestic market limits growth potential and increases the business’s risk exposure should the local economy slow.
It also means that the business may be less exposed to competitive pressures, which the survey results show may
have a negative impact on innovation and growth. Further, the business may be less exposed to new ideas from
other markets, which may also negatively impact innovation.
15 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
With the survey results showing a strong link between increasing revenue from exporting and business growth and
jobs creation, it is easy to see why governments across the region are taking action to support and encourage
international trade with initiatives such as the Trans-Pacific Partnership and the creation of the ASEAN Economic
Community.
Small businesses are also more likely to expect strong growth in their earnings from overseas in the next 12
markets if:




the business is in the manufacturing sector
the business has between 5 and 19 employees
the respondent is aged under 50
the business has been established for less than 21 years.
KEY FINDING
The focus of many of Vietnam’s small businesses on exporting is a competitive advantage for them and the
economy. With a strong connection between exporting and growth and jobs, more Vietnamese small businesses
should consider a greater focus on exporting as part of their business strategy.
16 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
SOCIAL MEDIA
With the survey results showing a strong connection between social media use and
business growth, the very strong uptake of social media by Vietnam’s small businesses
is a competitive advantage.
Small businesses that used social media in their business – by market7
China
97.2%
Vietnam
96.5%
Indonesia
96.0%
Hong Kong
93.2%
Malaysia
88.2%
Singapore
New Zealand
Australia
79.6%
56.5%
50.2%
With the survey results showing a connection between social media use for business purposes and business
growth, the very strong uptake of social media amongst Vietnam’s small businesses gives them a competitive
advantage, particularly over businesses from Australia and New Zealand where the number of small businesses
using social media is significantly lower.
With customers being increasingly likely to seek to communicate and transact with businesses via social media, a
robust social media presence should enhance a small business’s ability to attract, retain and transact with
customers. It could also enhance their brand reputation and assist them to grow their business.
Those that use social media use it for a variety of purposes including communicating with existing customers,
promoting their business to potential customers, and selling their products or services.
Small businesses are significantly less likely to be using social media for business purposes where:
 the respondent is aged 50 or over
 the business has been established for over 20 years
 the business has four or fewer staff.
KEY FINDING
With small businesses using social media being more likely to grow, the large-scale adoption of social media by
Vietnam’s small businesses is a competitive advantage that should help generate future growth.
7
All data for China excludes Hong Kong, which is shown separately.
17 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
JOBS AND SMALL BUSINESSES
Reflecting strong business conditions, two-thirds of Vietnam’s small businesses plan to
increase their headcount in 2016.
Small businesses that plan to increase employee numbers in the next 12 months – by market8
Indonesia
71.2%
Vietnam
66.1%
China
55.2%
Malaysia
46.8%
Hong Kong
32.8%
Singapore
New Zealand
Australia
27.7%
19.9%
16.7%
Relationship between jobs creation and business growth, innovation, exporting and e-commerce
Percentage that expect to
increase employee
numbers in the next 12
months
BUSINESS GROWTH
Expecting to grow in the coming 12 months
NOT expecting to grow in the coming 12 months
8
All data for China excludes Hong Kong, which is shown separately.
18 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
INNOVATION
Definitely expecting to introduce a new product, service or process unique to their
country or the world
NOT expecting to introduce a new product, service or process unique to their country
or the world
EXPORTING
Expect to grow export revenue strongly
NOT expecting to sell into overseas markets
E-COMMERCE
Expect to grow their e-commerce presence to a large extent
NOT expecting to grow their e-commerce presence
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The jump in the number of Vietnamese small businesses that are expecting their business to grow in 2016 from
2015 is flowing through to jobs, with 66.1 per cent of Vietnamese small businesses planning to increase employee
numbers in the next 12 months.
Other factors contributing to this healthy jobs projection include the strong focus on innovation, e-commerce and
social media by many of Vietnam’s small businesses.
Over the next 12 months, businesses that expect to increase employee numbers are also significantly more likely
to:
 intend to considerably increase their e-commerce presence
 strongly grow their revenue from overseas sales
 innovate through definitely introducing a new product, service or process.
Small businesses are also more likely to expect to increase employee numbers over the next 12 months if:
 the business is in the manufacturing, accommodation or food services industry
 the business has between 5 and 19 staff
 the respondent is aged under 40.
KEY FINDING
A stronger focus on exporting and innovation by more small businesses in Vietnam should lead to more jobs
being created.
20 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
BUSINESS AND ECONOMIC CONDITIONS
Growth prospects for Vietnam’s small businesses in 2016 are the highest of the markets
surveyed
Small businesses that grew over the past 12 months – by market9
Indonesia
57%
Vietnam
34%
63%
China
26%
70%
Malaysia
8%
55%
Hong Kong
14%
51%
Singapore
12%
49%
New Zealand
9%
41%
Australia
15%
32%
13%
Grown A Little
Grown Strongly
Small businesses that expect their business to grow in the coming 12 months, 2009 to 2015 – by
market
100%
90%
Vietnam
80%
Mainland China
Singapore
70%
New Zealand
Malaysia
60%
Indonesia
50%
Hong Kong
Australia
40%
30%
2009
9
2010
2011
2012
All data for China excludes Hong Kong, which is shown separately.
2013
2014
2015
21 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
Small businesses that expect their local economy to grow over the next 12 months, 2011 to 2015
– by market
100%
90%
Australia
80%
Hong Kong
70%
Indonesia
60%
Malaysia
New Zealand
50%
Singapore
40%
Mainland China
30%
Vietnam
20%
2011
2012
2013
2014
2015
Small businesses from Vietnam are the most likely to expect their business to grow in the next 12 months, with
over nine in ten (93.6 per cent) expecting to grow, a 14.8 percentage point increase from their forecast for 2015
and well above the survey average of 70.7 per cent.
Small businesses in Vietnam were also the most likely to expect their local economy to grow, with nine in ten
expecting Vietnam’s economy to grow in the next 12 months, a 10.3 percentage point increase from their forecast
for 2015 and well above the survey average of 61.1 per cent.
Both of these forecasts demonstrate the resilience of Vietnam’s small business sector in the face of a range of
external pressures including China’s slowing growth (although it remains very robust), uncertainty over US interest
rates, and weaker than expected recoveries in the economies of the US, Japan and the euro area.
Small businesses that expect to innovate, grow their e-commerce presence to a large extent and strongly grow
revenue from exports are significantly more likely to expect their business to grow in the next 12 months. In
addition, small businesses are more likely to expect to grow if:
 they have between 5 and 19 employees
 the respondent is aged under 50
 the business reported growing in the past 12 months.
Further, small businesses are more likely to expect their local economy to grow if:
 they have between 5 and 19 employees
 they are in the manufacturing, property or construction sector
 the respondent is aged under 40.
KEY FINDING
Confidence in Vietnam’s small business sector in 2016 is the highest of the markets included in this survey.
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ACCESSING FINANCE
Access to finance remains relatively difficult for Vietnam’s small businesses despite
strong business conditions.
Access to finance – the percentage that experienced easy to very easy financing conditions in
the previous 12 months10
2015
2014
Indonesia
60.6%
Indonesia
56.3%
China
59.3%
New Zealand
53.7%
Australia
54.3%
Australia
48.1%
New Zealand
50.0%
China
33.4%
Hong Kong
43.5%
Malaysia
32.3%
Singapore
34.1%
Vietnam
32.0%
Malaysia
31.8%
Singapore
30.9%
Vietnam
29.7%
Hong Kong
29.9%
Access to finance remained more likely to be difficult than easy for Vietnam’s small businesses that sought external
finance in the past 12 months, despite strong growth in the sector. Vietnam’s small businesses expect accessing
finance to become slightly more difficult in 2016.
These relatively difficult financing conditions may have had some impact on the demand for finance by Vietnam’s
small businesses, with 85.8 per cent of small businesses requiring funds from an external source in the past 12
months, down from 94.8 per cent from the 2014 survey. However, Vietnam’s small businesses remain significantly
more likely to seek external finance than small businesses from Australia and New Zealand who experience
significantly easier financing conditions.
Despite difficult financing conditions, banks are by far the most popular source of finance for Vietnam’s small
businesses. The next most popular source were investors.
Reflecting the very high level of business confidence, Vietnam’s small businesses were the most likely of the
markets surveyed to have sourced external finance to support business growth. Borrowing money to purchase a
capital asset was the next most popular reason.
10
All data for China excludes Hong Kong, which is shown separately.
23 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
KEY FINDING
Accessing finance remains relatively difficult for many of Vietnam’s small businesses despite high levels of
business and economic confidence.
24 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
SMALL BUSINESS AND THE ASEAN ECONOMIC
COMMUNITY
The ASEAN Economic Community expected to have a positive influence on small
business across the ASEAN region.
Expected impact of the creation of the ASEAN Economic Community on small businesses in Indonesia,
Malaysia, Singapore and Vietnam
13.4%
Very positive
50.0%
Positive
Small businesses in Indonesia, Malaysia, Singapore and Vietnam are most likely to expect the establishment of the
ASEAN Economic Community (AEC) to have a positive impact on their business. Small businesses in Indonesia
and Vietnam are especially positive about the AEC, while Singaporean small businesses were the most likely to
believe it will have no impact or that it is too early to tell.
Larger small businesses, manufacturing businesses and businesses that have been established for between five
and ten years are the most likely to see the formation of the AEC as having a positive impact on their business.
Businesses that are expecting strong growth in export revenue over the coming 12 months are also significantly
more likely to state that the AEC will have a very positive impact on their business.
Very few businesses think that the AEC will have a negative impact on their business, while some are still
undecided.
KEY FINDING
The ASEAN Economic Community is a positive initiative for businesses across the ASEAN region and should
improve business and economic performance for member nations.
25 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
APPENDICES
VIETNAM DATA SNAPSHOT
Business and economic growth
Small businesses that expect their business to
grow - Vietnam against survey average
Vietnamese small businesses that expect their
business to grow against small business growth
expectations for Vietnam's economy
90%
90%
70%
70%
50%
50%
30%
30%
2014
Survey average
2014
2015
Vietnam
Businesses that grew in the last 12 months
Businesses that expect to grow in the next 12 months
Businesses that expect the local economy to grow in the
next 12 months
2015
Expect local economy to grow
Expect their business to grow
2015
Rank
2015
2014
Rank
2014
2015 survey
average
89.0%
93.6%
2/8
1/8
64.2%
78.8%
3/8
2/8
68.2%
70.7%
90.0%
1/8
79.7%
2/8
61.1%
Rank
2015
2014
Rank
2014
2015 survey
average
48.1%
2/8
51.2%
1/8
33.1%
41.0%
1/8
N/A
N/A
25.4%
57.1%
1/8
N/A
N/A
39.0%
85.8%
29.7%
70.3%
2/8
8/8
1/8
94.8%
32.1%
64.0%
1/8
6/8
2/8
59.9%
47.6%
56.3%
Business activity over the past 12 months
2015
Increased employee numbers
Improved business management had a major positive impact
on their business
Increasing costs had a major negative impact on their
business
Required funds from an external source
Found it easy or very easy to access external finance
Sought external funds for business growth
26 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
Planned business activity over the next 12 months
Expect to increase employee numbers
Definitely expect to introduce a new product, service or
process unique to their country or the world
Expect to grow their e-commerce presence to a large extent
Expect revenue from overseas markets to grow strongly
Expect to significantly increase spending on marketing and
promotion
Expect to grow their investment in assets strongly
Definitely will seek external funds
Expect easy to very easy access to finance
Expect to seek external finance to fund growth
2015
Rank
2015
2014
Rank
2014
2015 survey
average
66.1%
2/8
64.4%
2/8
41.8%
26.1%
4/8
N/A
N/A
22.0%
33.5%
19.7%
5/8
3/8
N/A
N/A
N/A
N/A
32.2%
19.1%
37.4%
2/8
N/A
N/A
22.8%
32.3%
47.1%
32.9%
77.3%
2/8
1/8
6/8
1/8
N/A
48.7%
37.1%
68.6%
N/A
2/8
4/8
2/8
23.1%
29.2%
43.3%
59.7%
Social media and e-commerce
Earned revenue from online sales
Used social media for business purposes
2015
Rank
2015
2014
Rank
2014
2015 survey
average
85.1%
96.5%
3/8
2/8
87.1%
96.8%
3/8
2/8
68.9%
81.4%
2015
Rank
2015
2015 survey
average
80.0%
2/4
63.4%
ASEAN Economic Community
Creation of the ASEAN Economic Community will have a positive impact on
their business
Demographics
Business is 10 years old or younger
Respondent is aged 39 or younger
2015
Rank
2015
2014
Rank
2014
2015 survey
average
80.7%
79.7%
1/8
1/8
82.5%
65.1%
1/8
3/8
65.6%
53.3%
27 | THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 – VIETNAM REPORT
ABOUT THE SURVEY
The CPA Australia Asia-Pacific Small Business Survey 2015 is part of a longitudinal annual study of small business
conducted by CPA Australia since 2009. This report presents a cross-market comparison between the eight
markets surveyed and, where applicable, a comparison of results from 2009 onwards. The survey was conducted
between 24 September and 14 October 2015.
The mainland of China and Vietnam were included in the survey for the first time in 2014. Indonesia and New
Zealand were included in 2011.
The survey in the mainland of China was conducted in Beijing, Chongqing, Guangzhou and Shanghai. All data for
China excludes Hong Kong, which is shown separately.
Interview method
In each market, the online survey was conducted amongst a random sample of small business owners/managers.
The sample was obtained through online panel provider Research Now and their Asian panel partner iPanelonline.
To qualify for the survey, participants were required to be an owner, a senior manager (defined as being a director,
a principal, a CEO, a CFO, a senior manager or a managing director) or a qualified accountant of a business with
fewer than 20 employees.
Sample
In total, 2932 participants completed the survey, including 510 from Australia, 610 from the mainland of China, 265
from Hong Kong, 306 from Indonesia, 310 from Malaysia, 311 from New Zealand, 310 from Singapore and 310
from Vietnam.
Of the 610 participants from the mainland of China, 155 were from Beijing, 152 were from Chongqing, 147 were
from Guangzhou and 156 were from Shanghai.
Questioning
Questions on small business confidence, employment, social media, costs and access to finance were drawn from
previous surveys. Some slight modifications to question wording were made to a number of those repeated
questions. Questions on innovation, major influences on the business environment, e-commerce, spending on
marketing and assets and exporting are new in this survey.
Questionnaires in Australia, Singapore and New Zealand were administered in English. The Hong Kong
questionnaire was administered in traditional Chinese, the questionnaire for Malaysia was administered in both
English and Bahasa Malaysia, Indonesia’s questionnaire was administered in Bahasa Indonesia, China’s
questionnaire was administered in simplified Chinese, and Vietnam’s questionnaire was administered in
Vietnamese.
Rounding
All percentage results shown in this report have been rounded.
29
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