Investigate the factors affecting the competitiveness of Vietnam's small and medium businesses (SMEs)

Abstract

Small and medium businesses play a vital part in a country's economic development. However, the development of enterprises depends on the competitiveness of each enterprise. Enhancing competitiveness in each enterprise is indispensable in the current intense development process. This article implements a survey method for 168 SMEs in Vietnam to find out the factors affecting the competitiveness of enterprises. In this article, the author gives 3 basic factors affecting the competitiveness of enterprises, including Internal factors, Corporate Social responsibility, and Government policies. All factors have a positive impact on the competitiveness of enterprises. Research results show that the state's policy institutions have the most substantial impact on the competitiveness of enterprises. Based on the research results, the authors make policy suggestions for businesses to improve their competitiveness in the current context.