Entrepreneurship development in Vietnam in 2014: through the approach of the global entrepreneurship monitor

Abstract

Learning about entrepreneurial opportunities and the capability to grasp these opportunities to start a business in different nations is the purpose of Global Entrepreneurship Monitor (GEM) research. Starting from 1999, in 2014, the GEM study attracted 73 participating nations and territories, accounting for 72.4% of the world’s population and 90% of the world’s GDP. 2014 was the second consecutive year when Vietnam Chamber of Commerce and Industry (VCCI) represented for Vietnam to participate in GEM study. Based on the data collected from the adult population survey in Vietnam, VCCI built GEM Vietnam Report 2014. It provided a picture of characteristics and conditions for business development in Vietnam in 2014. Comparisons among other economies, especially those in the same level of development with Vietnam, showed that business development in Vietnam in 2014 was better than in 2013; however, there were still many inadequacies influencing the process of business start-up and development in Vietnam. The report also showed that the key of success for business start-up was innovation.