Challenges anticipated to soar

The challenging 2022 is coming to an end as the majority of domestic enterprises have not yet recovered. Some businesses that can ensure jobs for workers have now the smooth production and business activities in the success coming back, which besides the support from the State and the companionship of local authorities, the common point of these businesses is the anticipation of how to promote internal resources and cornerstone to overcome challenges.

Year 2022 is considered a difficult year for the business community in particular and the economy in general. The reason for such difficulty is that input prices of raw materials increased as a result of the epidemic while the consumption market for output products was not favorable. Facing that situation, central ministries and local authorities, besides supporting and creating conditions, have warned businesses that they need to correctly anticipate the  challenges to find ways to overcome them.

Despite being warned, many domestic enterprises with small scale and weak potential could not overcome and had to withdraw from the market. According to a report by the General Statistics Office, the country has about 11,900 businesses withdrawing from the market every month in 2022. However, the business picture is still mixed with bright colors as the number of enterprises returning to the market and registering new establishment is still higher than the number of enterprises withdrawing from the market. The report of the General Statistics Office also shows that for every 2 enterprises withdrawing from the market, 3 return to the market or register for new incorporation. In the overall picture of the domestic business community in 2022, although the number of businesses falling because of difficulties is very large, the domestic business community is not so weak. Most of the businesses that are still standing in the market are experienced units with great potentials, knowing how to promote internal resources to retain markets, and the products are well received by consumers. For those businesses that return to the market or register as a new one in the hard time, it is certainly the units that have seen the market opportunity or found their own direction.

Difficulties and challenges always come with opportunities; the more difficulties are, the greater the opportunities. Difficulties for one business, but opportunities for other businesses if they know how to predict, correctly judge the market situation and find the right direction. Those businesses that successfully overcome difficulties in 2022 are such businesses. The year 2022 closes and 2023 is opening up with new challenges and opportunities. We believe that with the experience gained in the past year, businesses will continue to find a way for the domestic business community to grow stronger.

Reported by Le Quang – Translated by Vi Bao