Vietnam’s small businesses top Asia-Pacific growth rankings, survey says

The result of the survey, released on April 21, marked an improvement from 82 per cent in 2024. Momentum is forecast to continue in 2026, with 89 per cent of small businesses expecting growth, driven by a strong focus on technology, e-commerce, and improved business management.

Priya Terumalay, regional head for CPA Australia in Southeast Asia, said the survey results show that Vietnam’s strong performance in technology is a key reason why small business confidence in Vietnam’s economy remains strong.

“Vietnam’s small businesses are continuing their stellar performance from the previous year ranking at or near the top across the Asia-Pacific in all indicators of tech adoption in 2025, including e-commerce, social media use, digital payment options and consultancy from IT specialists,” Priya said.

Vietnam also recorded the strongest level of small business confidence in national economic conditions, with 85 per cent expecting the local economy to grow in 2026, well above the survey average of 65 per cent.

A key driver of technology adoption among Vietnamese small businesses is the strong and rapid profitability gains these investments are delivering. In 2025, 76 per cent of small businesses reported improved profitability from technology investments, also the highest result among all surveyed markets.

The share of Vietnamese small businesses generating more than 10 per cent of their revenue from online sales reached 83 per cent, the highest result among surveyed markets. Digital payments are also widely used, with 86 per cent of small businesses receiving more than 10 per cent of sales through digital payment platforms, the second highest across surveyed markets.

Vietnam’s small businesses are also increasingly confident in their ability to compete globally, with 30 per cent anticipating strong growth in overseas sales revenue in 2026, the second-highest result among surveyed markets.

“Despite global uncertainty from tariffs and trade restrictions, the strong results are indicative of the potential for Vietnam’s small businesses to grow into large, successful global enterprises driven by young, tech-savvy entrepreneurs eager to expand into new markets,” said Terumalay.

While demand for external finance remains strong at 91 per cent, there is a dip in the number of small businesses seeking funding for growth from 80 per cent in 2024 to 72 per cent in 2025.

While cyber risk exposure remains high with 60 per cent reporting a cyberattack in 2025, 70 per cent reviewed their protection measures, exceeding the survey average and leading all surveyed markets.

“With more Vietnamese small businesses seeking advice from IT specialists, increased priority to cyber protection measures is an expected outcome,” said Terumalay.

In 2025, 52 per cent of Vietnamese small businesses sought advice from IT consultants, nearly double the survey average and a continuing upward trend from previous years, pointing to a better understanding of the value of technology and cybersecurity management.

“While rising costs and increased competition remain key concerns, growth-oriented strategies such as deep digital adoption, an innovative mindset and improving customer satisfaction are driving Vietnam’s dynamic and young small business owners to take calculated risks that deliver better business outcomes,” said Terumalay.

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